Determine how much money you will spend in creating your product if that has not been predetermined by your economics teacher. Calculate how much time you will have to make your product as well. This helps you get the most profit from your product.
Target your consumers. Even if you already have been assigned a selling venue, you still decide whether to sell your item to your classmates, younger children or adults.
Select three items that you think you can make at least 10 of each day and stay within your budget. Search the Internet and craft books for ideas for products. Check around your home for material you can use for free. Look through the clearance items in craft stores.
Make one item, a prototype, of each of the products you have chosen.
Survey a sampling of your targeted consumers. Display your prototypes with a typed survey where you have listed three prices for each item. Ask the consumer to indicate what price he thinks is reasonable. Include a section for comments. Set up the survey within your classroom or the teachers' workroom. Ask a parent to take the items and survey to work.
Read your surveys. Produce the item that will give you the most profit from your investment of time and money. Create as many items as your budget will allow.
Give your product a catchy name that relates to the function or fun your item will produce. Avoid using a copyrighted trade name.
Set up your shop in the venue. Use neatly printed, colorful large letters to make an attractive sign with the name of your shop and your product. Greet your customers and convince them you have the best item in the venue. Keep small bills and coins for change in an envelope or money box. Greet your customers with a smile.
Calculate your profit margin after your shop closes. If all your products sold as you anticipated, then your entrepreneurship worked well. If your sales brought in less money than you invested, reflect on what you could have done differently.