Age Minimum (with Adult): 18+, Minimum Age:18+
NFTE Curriculum Lab Day - Business Financials
Volunteers are critical to every NFTE student’s learning experience.
They bring concepts and ideas to life and connect the classroom to today’s changing work environment. NFTE volunteerism is skills-based and provides opportunities to share expertise, insights and inspiration about careers, becoming an entrepreneur and what it takes to succeed.
NFTE Lab Days bring subject matter experts into the classroom to share their skillset with budding entrepreneurial thinkers. Opportunities are curriculum-aligned to ensure relevancy so that students can easily apply lessons and insights to their business concepts.
March: Business Financials
Students learn about the various expenses incurred by a business and how entrepreneurs do an analysis of profit per sale to help predict the overall profitability of the business itself. This unit teaches students how to calculate markup in a distribution channel, their profit per sale after their variable expenses, and a break-even analysis against their ongoing fixed expenses.
Students also learn how to balance cost-based pricing with other pricing approaches, including demand-based and competition-based pricing. By applying all of these strategies and financial analyses, students are able to determine a selling price and cost structure for each of their main revenue streams.
Suggested Topics Include:
· Variable v. fixed expenses
· Cost effective channels for finding customers/making sales
· Defining the unit of sale
· List cost-based pricing, competition-based pricing, and demand-based pricing
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