Students at the Estevan Comprehensive School are getting a taste of the business life with a couple of baked-good start-ups competing for dessert supremacy.
Both companies held board meetings on Nov. 22, inviting business leaders from the community to sit in to hear what the students have to say about their companies. Truffle Shuffle and First Class Baking are both companies started by students taking the entrepreneurial class at ECS. The teams are a little competitive, with Truffle Shuffle appropriately selling truffles and First Class Baking selling pies, cheesecakes and cookies. The companies have set high goals for their companies, expecting to sell between $13,000 and $32,000 worth of goods.
Shaylee Foord, president of Truffle Shuffle, said the company projects make up the majority of the work for the class. They decided to produce truffles because they felt it was a wide open market in the Energy City.
"We just thought that chocolate truffles were innovative. Nobody else in the community really sells homemade chocolates," said Foord. "We figured it would appeal to a wide variety of people, especially over the holiday season."
The groups came up with their business plans in October, deciding who would run different departments within the company and then elected an executive.
Truffle Shuffle, as of Nov. 22, had sold 1,346 boxes of truffles, generating $8,076 in revenue. Their goal is to sell 1,500 boxes each month, and the sales teams all get a 10 per cent commission after making their first 100 sales.
The class is taught by Josh LeBlanc who has guided the students as they formed their businesses. He said he wanted to make sure each company had a sense of social responsibility, so five per cent of the profits go to local charities. Truffle Shuffle is donating to United Way Estevan, while First Class Baking is sending a share of their profits to the Hearthstone Community Campaign.
The companies are in production, selling their products until January.
LeBlanc said the competition between the companies is a positive thing for the students.
"It's challenging. It's intense. It makes them come out of their comfort zone," he said. "There are kids here who haven't really talked to anyone outside of their friend group, so this pushes them to do that."
LeBlanc said the results the students will see are the same any business would.
"You get out of it what you put into it. That's the model I've been pushing for all of them," he added. "There are groups who have been here from 8 o'clock every morning, and by the end of the semester they'll probably put in an additional 100 hours of class time up and above what they do everyday. They definitely realize the value of hard work and what it means to run a business."
The students need to take ownership of their temporary company because they are literally owners. Each student owns a $20 share in the company, so if they don't sell their products, they will have lost their investment.
At the end of the semester, the companies will hold shareholders' meetings.
"The payout is theirs," said LeBlanc. "If they make $3 a person, that's what they get. If they make $600 a person, which is what this group is shooting for, then they'll make that too."
He said the students completed their business plans and market research, while developing their product. LeBlanc noted that they make their own product and he doesn't allow them to do any outsourcing.
"It's definitely been a learning experience," said Shaylee.
Realizing the work that goes on behind the scenes was an eye-opener for her. "What is involved in making a successful marketing campaign? How much organization it takes to keep track of sales records?" Shaylee said are some of the things she and her team have learned.
The sales teams have been out to businesses in the community to sell their products as well as setting up shop at the local farmers' market.
The final project for the companies is applying for scholarships awarded through Junior Achievement, a Canadian youth education organization.
For anybody who would like to place an order with one of the companies, you may call the school at 634-4761. The groups also have Facebook and Twitter accounts that may be contacted.
