It is that time of year again! Pull out your wallets because Intro to Business’ Venture Out groups are ready to start selling! The 32 teams met with a panel of six judges recently to present ideas and business plans, hoping to come away with a loan agreement.
In the long review with the judges, groups lay out their entire business plan including suppliers, plans for profit, and marketing strategies to be used in promotion of the product. The panel of judges included CEOs and small business owners from the Abilene area. Up to $500 loans could be given to each individual team. Teams are able to pick an organization to give their profits to once the project is completed. Some of the charitable organizations include Habitat for Humanity, St. Jude’s Hospital, the Red Thread Movement, Locks of Love, Southern Hills Church of Christ, and Younglife.Profits range from group to group, but in the past, a group was able to donate $2,000 to an organization. Venture Out is a project that has been used for over a decade, with over $60,000 of donations given to various groups and causes. The project even contrinutes to some scholarships, including the A. Don Drennan Scholarship for students who are struggling financially. From shirts, socks, and sweatpants to hairbows, stickers, and koozies, Venture Out teams are ready to get out and start selling their products! Look for teams selling around campus and remember the good causes the proceeds will be going towards.
Dr. Monty Lynn says, “I love this project because of the hands-on nature. Students are able to see the process of a business start-up to harvest.”