Student entrepreneurs pitch plans

Michelle Chanthakhot and Ronniesha Forrest believe they can earn more than $1,500 by selling “Bear Balm,” their specially labeled chapstick, to friends and family and customers of a student-managed store soon to open at Northside High School in Fort Smith.

The Bear Balm owners were one of 19 teams presenting their business ideas Monday morning (Dec. 5) to 12 judges from the Fort Smith area business community. The event was held at the University of Arkansas at Fort Smith. The 45 students (28 from Northside and 17 from Southside High School) are part of an entrepreneurship program that allows them to seek up to a $500 loan.

“These kids work hard at this. More than 85% of them have paid us back,” said Craig Pair, president of Fort Smith-based Control Technologies and coordinator of the program that partners with UAFS.

The program has grown in four years from 11 students seeking loans to the 45 on Monday. Money for the program was first raised through the now defunct Innovation and Entrepreneurship Center.

Other student businesses making a pitch Monday included Renee’s Hair Boutique (selling custom hair bows), Double D’s Car Supplies, Caked Cups (specialty cupcakes) and So Fresh So Clean (car and student locker air fresheners).

Some of the students participate in the two-semester version of the course. The first semester focuses on learning about the business world and creating a business plan. Students receiving loan proceeds spend the second semester running the business and, ideally, paying off the loan.

“This has grown every year,” Pair said. “And I think the (business) plans get a little better each year.”

Pair said other area schools, including Union Christian Academy, are interested in joining the entrepreneurship program.

Melinda Briscoe, business teacher at Northside, said the number of students in the entrepreneurship program totals 34, “just about double my last year’s group.”

Part of the Northside program in the 2011 fall semester has included preparing to open “Grizzly Gear,” a student-managed gift and apparel store. Briscoe was able to obtain a $40,000 grant from the Arkansas Department of Education and a loan from the Fort Smith Public School District to open and stock the store.

Briscoe said nine students have bought inventory, worked with vendors on designs and pricing for clothing, jewelry and numerous other items, set up window displays and prep the point-of-sale system. Profits from the store go back into the store and to scholarships, Briscoe said.

The store, located in the old bookstore at Northside, is set to open 2:30 p.m., Friday (Dec. 9) to the public. Briscoe said the store is a partnership with the Northside marketing department and Lori Bauer, the Northside marketing teacher.