January 19, 2005 – Posted at 4:37 p.m. CST
RECTOR -- Thirty students at Rector Elementary school are business owners... at least they are for a day. Wednesday was the 15th Annual Economics Fair at the school.
It was a close look at what products the young entrepreneurs were pushing this year. The kids may be young and cute, but don't let it fool you. They know how to turn a profit. Take 9-year-old Lindsey Ford for example. She's a boutique owner.
"We sell hats, purses, totes and sunglasses at the boutique," said Ford. And even though she 's been pretty successful, she's not sure if she'd like to own her own business.
"If I decided not to it would be because there's too much pressure," said Ford.
And it's a lesson learned, Ford understands that is the way it work in the real world.
"It works real well in education that we have real life hands experience," said Ford.
And it's real world experience on a lower lever. The students had to apply and buy a business license. They also created business cards and slogans, logos, and even TV commercials. The students also learned to pay their employees--in this case it's mostly parents, and then they have to pay taxes. In the mean time, ASU professors were judging their products and talking to the business owners.
"Their comments were this is hard work but it's worth it and I can really see what goes on behind the business sense," said Patricia McLin.
"It is a very practical experience were the kids can understand what they're doing," said teacher Gail Burns, "They have to turn in their finical page which is due next week. That will tell their profit and loss and that will tell if their business was successful."