A computer repair service, a cookie company and a lawn care operation are some of the businesses that students at Lockport Township High School recently planned from scratch.
According to economics teacher Dick Dystrup, they developed their own business plans, management structures and marketing strategies and analyzed cash flow and income statements.
The students also were told to seek business mentors. For example, the student who hopes to start a cookie company called bakeries to seek advice, then visited one business to watch the operation, Dystrup said.
“The kids really learn something first-hand about the business world. They actually meet with bankers and find out how much money they’re going to need,” he said.
“A group of two or three would stop by the bank and ask questions,” said John Soviak, chairman of Beverly Bank in Lockport, who was impressed with the students’ initiative and their practical approach.
“It was amazing,” Soviak said. “I’ve had commercial loan customers who weren’t as prepared as these kids were.”
The project also created a partnership with students from Joliet Junior College and North Central College in Naperville in which students studying the same subjects joined forces. They also worked with the Service Corps of Retired Executives and Junior Achievement.
And after nine weeks of planning, students made formal presentations to the local chamber of commerce, which voted on the most successful concepts.