MASON, Ohio – When Alex Zamojski forgets his lunch money, it’s not a problem. He can just stroll into the bank at Mason High School and withdraw the money from his savings account.
“It’s really handy to be able to get a couple of bucks for lunch or money for something I need from the school store,” said Zamojski, 16, a junior at the suburban Cincinnati school. “And it gives you more independence because you are handling your own money.”
Banks are among the latest developments in the evolution of school-based enterprises that started out as little more than tables set up in a cafeteria or hallway where students could buy pencils and loose-leaf paper. Students now can find lattes, designer jeans, candles and collectibles at school. They can make travel arrangements, copy documents and even get their bicycles fixed at student-run businesses.
Some schools – such as Southington High School in Southington, Conn., and Lebanon High School in southwest Ohio – contain full-service bank branches operated by bank employees with some students working as tellers.
The Comet Savings & Loan at Mason High, however, is run by students in partnership with Hamilton-based First Financial Bank, which supplied $2,000 in startup money, desks, teller windows and other equipment.
Any student, faculty or staff member may open a savings account or a certificate of deposit. Account holders may cash payroll or two-party checks and withdraw up to $75 in cash per day – more with advance notice. Those without accounts may get instant loans between $2 and $10 to cover lunch and purchases at the adjacent school store, the Comet Zone.
The bank, which is open during the school’s three lunch periods, accumulated $160,000 in accounts in its first year in 2002.
Michael Charnay, 17, opened an account as a freshman and now works at the bank.
“You learn a lot about banking and a lot about the importance of teamwork,” he said.
Since the bank is not a full branch, students cannot access their money outside of school. Bank and school officials are discussing ways of overcoming that problem while keeping the bank student-operated.
The increasingly sophisticated operations are an outgrowth of more creative teaching methods, increased business and marketing savvy on the part of students, technological advances and students’ desire and need for practical work experience that is close at hand and easy to fit into class schedules.
“This is a wonderful hands-on, learning experience for our marketing and business students, but it also helps other students who just have accounts there,” said Cindy Donnelly, business teacher and adviser to the bank at Mason High. “It teaches them financial literacy and how to manage their money.”
Many school-based enterprises are run by chapters of DECA Inc., an international association that assists marketing teachers and students. At least half of the 6,000 DECA member schools have some type of business, said DECA Executive Director Edward Davis.
It can cost from a few thousand dollars to tens of thousands to start a business, depending on the complexity of the enterprise. The money usually is loaned by the school system or comes from outside partners or grants. Typically, some of the money earned goes back into the operation at the end of the school year, with a portion also paying for student activities and sometimes scholarships.
Stores remain the most common of the in-school endeavors, but with a much different look from early versions. Cinnaminson High School in Cinnaminson, N.J., sells high-end Lenox giftware, tableware and collectibles and provides gift wrapping and delivery for customers such as the resident who buys about $10,000 in merchandise annually.
“It started out as the typical student store with stationery, gum and candy, but a few years ago we added designer jeans and that was so successful it led to other things,” said Fae Beth Zuckerman, marketing education teacher/coordinator. The store also sells apparel, candles and personal hygiene products and may soon add cosmetics.
Marketing and business students run the store, handling purchasing, inventory, customer service and design, among other duties.
A wider variety of classes contribute to The Hive, the school store at Enumclaw High School in Enumclaw, Wash. “The arts class makes jewelry and sometimes pottery to sell in the stores, and the agriculture department provides flower bouquets,” said marketing instructor and adviser Carol Jackson. The Hive also features a latte stand and a balloon store.
Similar merchandise and procedures are found at The Polar Market at North High School in North St. Paul, Minn. The store sells blankets, sweat shirts, shorts and book bags bearing the school colors of red and white and polar bear paw logo. Customers also can buy fresh sandwiches and popcorn.
At Cherry Creek High School in suburban Denver, the full-service label belongs to the student-run cafeteria, The Creek Cafe. “We started out with a little hole-in-the-wall place where we sold candy, but they closed one of our two cafeterias when it started losing money and our students took it over,” said Jim Konrad, marketing teacher and DECA coordinator.
“It has become a success and a popular hangout where kids can eat, do homework and visit with friends.”
The cafe brings in pizza, bagels, sandwiches and sodas from local businesses, keeping students from having to leave campus to get the type of food they usually want.
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On the Net:
DECA Inc.: http://www.deca.org
AP-ES-09-17-05 0918EDT
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