Math
- The child learned about pricing and cost analysis when deciding on the prices of the beard products and calculating the expenses involved in making them.
- They practiced their understanding of percentages and profit margins by determining the markup for the products.
- They applied basic arithmetic when counting the money earned from sales and making change for customers.
- They learned about graphing and data interpretation when creating charts to track sales and revenue over time.
Encourage your child to incorporate more complex math skills into their business, such as budgeting, forecasting sales, and analyzing sales trends using statistical methods. They could also explore the concept of compound interest and how it relates to saving and investing their profits.
Book Recommendations
- How to Turn $100 into $1,000,000: Earn! Save! Invest! by James McKenna and Jeannine Glista: A guide to money management and investing for young readers.
- Math Potatoes: Mind-stretching Brain Food by Greg Tang: A collection of math puzzles and activities to reinforce arithmetic skills in a fun way.
- The Lemonade War by Jacqueline Davies: A novel about siblings who start a business and learn about entrepreneurship and math concepts through their experiences.
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