Over the last three-months – in addition to rigorous academic schedules and athletic commitments - a group of entrepreneurial Central Catholic students volunteered to learn the ups and downs of starting, managing, and ultimately liquidating an actual business venture.
The real-world 13-week business competition, offered through the Junior Achievement Program of New England (JA New England), had students borrow an actual loan from a bank, establish a company, conceptualize a product, hopefully make a profit - and then ultimately close the business. Central Catholic Alumnus Radhames Nova '93 is President and CEO of JA New England.
The student team collectively decided to produce study bag/care packages called Inspodrop, where consumers could purchase one of several themed bags including stress relief or beach gear for $20. The bags were sold on a web site created specifically for Inspodrop, through social media, during pop-up shops at Junior Achievement Board meetings, and through family and friends. Students designed a logo for the product and were required to create a commercial for Inspodrop. Based on the sale of over 130 bags, with an initial stock purchase price of $10, students ultimately saw a 400% shareholder return or $41.60 a share.
In early May, the team presented their product to judges during a regional competition at Babson College (Babson Park, MA) where the students pitched, explained and defended their business operations and the motivation behind their decisions.
CCHS Junior Abigail McMahon ‘20 joined this venture to get the hands-on business experience that she believes cannot be replicated in a classroom. She is a budding entrepreneur, having started her own dessert and appetizer catering business at the age of nine, where her parents drove her to make deliveries.
“Through this program, I have improved my business skills, public speaking ability, community outreach, and I was able to explore whether or not this is something I want to continue to pursue in college,” said McMahon.
Photo Caption: Pictured here, members of the student business team Caileigh Saucier '20, Abigail McMahon '20, Alex Troisi '20, and Zuyledy Perez '19 are pitching their concept to judges at Babson College.
Congratulations to the Junior Achievement Business Competition team for their dedication to making this program a success!