Why are you developing school curriculum?
Positive feedback from Whiz Biz Kids camps has been huge! Parents want to see more entrepreneurial curriculum taught in schools, so Whiz Biz Kids has decided to develop school curriculum that follows our same camp project-based model. We also have a passion for every kid to have access to entrepreneurial skills that will prepare them for life in the 21st century!
Are you a non-profit?
No, Whiz Biz Kids is a for profit business. We are in hopes to have a non-profit arm in the future.
When will I get my reward?
Rewards will be fulfilled at the conclusion of the campaign. Be on the lookout for an email from Whiz Biz Kids about where to send your individual reward!
Who produced your campaign video?
Bring Light & Sound (BL&S) produced our campaign video and we would highly recommend them! BL&S is based out of Austin, TX. For more information visit blsfilm.com or email: [email protected].
Where are Whiz Biz Kids camps?
The camps are held around North Austin, Texas at locations with a built-in flow of customers for the campers’ business.
How many kids/teens are in each session of camp?
Camps typically have 15-20 kids/teens. This size lets them work together effectively as a team and develop their leadership skills.
My child is 8 years old and really shy. Is he/she going to fit in with the older kids in his session?
Multi-age groups work really well together when they are engaged in creating one unifying business. Much of their activity is in small groups that are fluid and organic in nature. One of the functions of the camp is to develop leadership, and when kids of different ages work together, they learn to recognize their differences and look for what is great in other people.
Do the kids each do their own business project?
The most effective way for them to learn about leadership is through facing the challenges that come naturally with working together toward a common goal. So kids work together to create one unified business with one product they can sell to the public.
How does running a business teach kids about money?
Money exists in the world so that we can exchange it for things of value. That’s what business is – giving someone something they want in exchange for cash. By getting hands-on experience with supply and demand, they develop a deep understanding of this principle, and this provides them the tools for living a life of financial responsibility.
Embedded in our curriculum we also have topics of assets versus liabilities, saving to invest, creating a financial freedom savings plan, and more to educate kids on lifelong financial success.
What kind of business do they start?
Whatever they want!
Each child brings their own creative ideas, and through market research, they determine what will be the most profitable business idea. Past businesses have sold cards, duct-tape wallets, hand-painted canvas bags, loom bracelets, marble magnetics, and lavender sachets, to name a few.
How much guidance do you provide?
One of our foundational principles is that kids learn best through experience. By letting kids explore the process for themselves and make their own mistakes, they develop a much deeper understanding of the concepts.
With that in mind, we turn over as much to them as possible. We provide a safe environment and “just-in-time learning” (where we provide information as needed and answer questions as they arise), and beyond that, we let them make the decisions themselves, and therefore learn from the effects of their choices.
Do they need to bring their own money to start the business?
No, they do not need to bring anything. Just like any other business start-up, an idea has to be researched for profitability before it can be financed. Once the team is certain their business idea will make them money, they get a “loan” from the WhizBizKids Piranha (investor), which they repay from their sales revenue. They learn a valuable lesson about interest, because if they don’t repay the loan at the end of the first day, they pay interest on the balance. While this rarely happens, they are introduced to the idea early on, and they can see how this would apply if they borrow money in the future.
