Monday, April 7, 2008

Entrepreneurs in The Making

My daughter's class sure has the entrepreneurial spirit.

At the start of this year, some children noticed that there were quite a number of their classmates who did not go down to the canteen for recess. This was due to a variety of reasons:
1. the teacher releasing them late for recess,
2. their class being located on the sixth floor, and hence it was a long walk down to the canteen, not counting the climb of 6 flights up to class after recess,
3. some children wanting to play in class during recess,
4. some children wanting to finish some of their work during recess.
5. a variety of other reasons eg dieting, the long queues in the canteen.

So, some of them offered to buy food for the others, with a service fee tagged on: an extra 10cents for every item purchased. So if someone wanted a bun and a fruit, he would have to pay extra 20 cents. This service was initially offered only to their fellow classmates. Very soon, children from the other classes heard about it and started using the service as well. They had to extend their team of buyers, and a schedule was drawn up for them to take turns to provide the service. All fees earned went into the class fund.

Some teachers heard of it and stopped it. Some of the more eloquent ones (read: our future top lawyers) then fought for the right to continue the service. You should have seen their arguments, it was so professional! The teachers had no choice but to let them continue providing the service. At the end of term 1, the class had made enough money to pay for a pizza lunch for all in the class (read: they made more than $100!!).

When term 2 started, they children decided to change their strategy. Their workload was getting heavier, and they needed time for themselves too. They decided to purchase storable food in bulk, and sold them to their schoolmates at a profit. They started a mini-canteen in their own class!! Now their profits are even more, as they buy in bulk at close to wholesale prices, and sell at a substantial profit. They have a roster for some to do the purchasing, and they take turns to do the selling. Eg. A packet of "monster noodles" purchased at a cost of 10cents is sold at 50 cents!!

I told my daughter that the pricing was too expensive as I felt that they were making too much money. But her retort was: "If the other children are willing to pay for it, why not! If we are not able to sell then we would consider revising the prices down!"

I can just imagine the size of the class coffers now!!

Who said Singaporeans had no entrepreneurial spirit? The evidence of it is right here!!

6 comments:

bp said...

Wow! Must say I'm really impressed! Kids are getting $$$marter by the day!

Are "monster noodles" the Mamee noodles with Cookie Monster on the yellow wrapper?

Jade said...

Woah! Your daugther sure knows how to meet the demand and supply of her consumers. Intelligent, indeed. =) Agree with bp, kids are just getting smarter these days.

Yan said...

That's being money smart! But hope that does not get them distracted to making money, rather than focusing on their studies!

Rachel used to "sell" her drawings to classmates during her lower form. I thought that was not right. Because the classmates are using her works as their own.

But the girl said thatmany parents are paying professional artists to draw and paint pictures for their children for better grades!

GarGies said...

Impressive! I'm awed by these new generation of people.

Stardust said...

Hi SAHM,

First visit here and I think I got a lot to learn from this blog. =) I'm astonished at kids nowadays! But I'm sure that they are evoluted for the better.

Thank you for dropping in, see you around. =)

NomadicMom said...

SMART KIDS!!!!

They will definitely survive in the real world. No need to worry about them. Your daughter knows about how supply vs demand works. Very good!