FAYETTEVILLE, N.C. (AP) - Several teams of young entrepreneurs in Fayetteville are selling beverages that they developed as part of a financial education project.
The teams of children ages 9 to 12 will sell their products Saturday at three locations, according to The Fayetteville Observer (https://bit.ly/1rYvhR0).
The project is a partnership among Fayetteville State University, the Fayetteville Regional Chamber of Commerce and Morgan Stanley and includes the involvement of Nancy Anderson, wife of FSU’s chancellor. The 82nd Airborne Division also participated.
They recruited 55 children ages 9 to 12 from three programs: the Boys & Girls Club of Cumberland County, Great Oaks Youth Development Centers and Fayetteville Urban Ministry.
Over four weeks, the children learned about money and financial responsibility by developing a business plan for a beverage such as the lemonade sold by five children who named their drink Lemon Devils.
Tiqual Washington, a fifth-grader, came up with the name. “It tastes good and sweet and sour,” he said.
Fourth-grader Arrion Wade brainstormed the advertising slogan: “Step into the underworld of flavor.” And sixth-grader Roberto Contreras provided some good advice. “I understand money because my dad owned a restaurant,” he said.
Third-graders Jessie Southern and Nick Taylor added enthusiasm.
“We’re going to get our own T-shirts and sell our lemonade,” Nick said.
Students chose their beverages, learned the cost of each element of the product, then set a sales price and presented a business plan to “bankers” from the local Morgan Stanley office to see if they could win a loan from funds put up by sponsors. All eventually did.
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Information from: The Fayetteville Observer, https://www.fayobserver.com
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