JC students turn business lessons into reality

JC students turn business lessons into reality

BY FALON FOLKES
Staff reporter
folkesf@jamaicaobserver.com

Sunday, April 15, 2018

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OVER time students have devised various ways to get a better understanding of what they are learning, whether it was through visual aid, YouTube videos or group studies.

But, five lower sixth form students at Jamaica College collectively thought that the best way was to literally put the theory into practice. Being business students, the teen group started their own business — Electro Hype.

Electro Hype is an online phone accessories store that specialises in original Apple and Samsung products. Their product line includes power banks, chargers, screen protectors, stickers and the latest phone craze, popsockets.

The youngsters have no regret starting their business, as it has helped them to grasp business concepts they were taught in entrepreneurship, management of business and economics.

“In economics, demand supply is now easier because we as the suppliers, we have to know what the demand is. We can't oversupply the market and we don't get the demand that's necessary. So we have to find out the price the equilibrium price that persons are willing to pay for the goods. We have to supply a price that they're willing to pay and we can profit from it. So that's what we did and we applied that knowledge to it,” Terique Johnson, one of the students, told the Jamaica Observer.

Another partner in Electro Hype, Daniel Dennis, added: “In entrepreneurship, we found out that [in] this industry there are a lot of niche markets. There are products that are not being offered right now from other businesses. Right now the popsockets, that's the latest one that we're offering right now.”

The group explained that the popsockets are not the only unique products that they sell.

“We have unique cases that are not seen anywhere else in other stores. You see commonly bare cases everywhere, supreme cases. We offer the wave and palm tree collection. It's transparent and it has a design,” Navaski Hammond said.

Education was not the sole reason for starting the business. Slowly approaching manhood, the teens felt the need to be independent of their parents.

“We always wanted additional funds. normally we go out at times and we'd always want funds, but not from always constantly saving lunch money. This was a way in which we could generate funds,” Dennis explained.

The small business started with about 20 sales in the first month. But, through Instagram, Facebook and word of mouth, the business has grown to over 60 sales monthly. When asked how they balanced their studies with running their business, they explained that it was not difficult because the business is a group effort. They are aware of each other's free times and rotate their responsibilities accordingly.

Dennis's advice for teens who wish to start a business is: “Don't limit yourself. Be creative. When we just started out we had doubts. Work hard, don't give up. At times we were like, alright, we going give up and just done wid it, but we have a strong support system (the group).”

The group hopes to make enough profit to expand their business and operate from a physical space when they leave high school.


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