Two student-run businesses Sips and Bumpin’ Breakfast compete against each other to earn the maximum profit as part of their Economics class curriculum.
The two businesses are run by Mr. Arpan Chokshi’s Economics class. Chokshi guided the students throughout the process and reminded them to “think like a business.”
“My goal was for them to actually learn how to experience a business from start to finish,” Chokshi said. Overall, he is impressed by how students have executed their businesses.
The goal for each business is to win the competition in order to earn the total money earned from both businesses. Both classes brainstormed ideas to create the best business possible that would appeal to many high school students.
“Our goals are obviously to win the class competition, but also to learn about businesses before we go out into the real world. Most of us have never been a part of or run a company before so this is a great opportunity to see what that will be like one day,” said Nikki Gibbs, CEO of Bumpin’ Breakfast.
Sips is a smoothie, coffee and tea business. “The idea came about when our class wanted to make a business that would solve a problem at our school. We thought if we have good coffee at a reasonable price, it would sell,” said Peter Nelson, CEO of Sips. Sips also decided to incorporate smoothies into their business because of the popularity at the school, but they decided to sell it for less because of the “monopoly of Jamba Juice.” On the other hand, Bumpin’ Breakfast is a breakfast business.
After the first week, Bumpin’ Breakfast earned profits of $100. Sips earned $50, taking into account the cost of the upcoming week’s materials. These classes are competing against each other in the morning before school.
The students have encountered their fair share of challenges while running their businesses. “One of the biggest challenges we had to deal with was finding a way to differentiate ourselves from the other class and their business,” Gibbs said. Another challenge was motivating people at the school and in the class to be excited about the business.
“I thought it was really important to establish a brand and get people talking about it. Just peaking someone’s interest somehow can really go a long way in establishing a customer base and a brand,” Nelson said.
“Running a business is much more challenging than I thought. It’s more than just creating an idea. It’s making it happen. It takes a lot of work. That is what I have learned. Yet, I have enjoyed every part of it and gaining experience in how to run a business,” Nelson said.
