Part of Unit: Developing a Business Plan
Lesson Plan Overview / Details
Students will explore the business of sharing concept, research an existing rental business and develop their own business of sharing. Students will create a PowerPoint presentation for their researched rental business and their own business of sharing idea and present it to the class.
- Class Periods
- 2 Hours
California Career and Technical Education Standards
- MSS.B.B2.5 Analyze a proposed business situation and its potential market.
- MSS.B.B5.5 Know how scarcity and allocation affect small businesses.
California Academic Content Standards (Reinforced)
Objectives and Goals
Students will review the business of sharing concepts and related vocabulary. Students will identify rental businesses and develop their own busines of sharing.
Activities in this Lesson
- 1st Choice Rent to Own Commercial - Hooks / Set
The instructor shows this youtube clip on 1 st Choice Rent to Own:
to begin the discussion on the advantages of renting.
- Are You Green, Broke, and Connected? - Lecture
The instructor writes on the board:
What do you do when you are green, broke and connect? You share.
The instructor asks students to list things that they can borrow or rent instead of purchase and write the list on the whiteboard:
Some possible responses are; dvd rental, prom dresses, car rentals, tuxedos rentals, U-Haul for moving, storage space rentals, etc.
The instructor passes out the article from The Economist “The Business of Sharing”. See The Business of Sharing attachment.
The instructor calls on individual students to read one paragraph of the article in class. As students read each paragraph, the instructor comments on how renting resources can be financially advantageous in an economic downturn.
- The Business of Sharing-The Economist.docx [ Download ] null
- Business of Sharing Worksheet - Demo / Modeling
The instructor passes out the handout “The Business of Sharing” Worksheet and instructs students to define the following terms from www.dictionary.com. The definitions of the terms are below and the instructor calls on students to share out their definitions and discusses the meaning of each term in the context of the article.
Financial crisis: situation in which supply of money is outpaced by demand for money
Ossified: to become rigid or inflexible in habits, attitudes, opinions
Austerity: poor living conditions because people do not have much money
Inventory: itemized catalog or list of tangible goods or property
Broker: person who serves as trusted agent or intermediary in commercial negotiations or transactions
Mogul: an extremely powerful business person
Obsolescence: loss in utility of asset due to development of improved or superior equipment, but not due to physical deterioration
Synonymous: having the same or similar meaning
Collaborative: cooperative arrangement in which two or more parties (with or without previous relationship) work jointly towards a common goal
The instructor tells the students to answer questions 10 through 19 on the Business of Sharing worksheet.
- Student Responses to Business of Sharing - Check Understanding
Once the students finish the vocabulary and questions from the Business of Sharing worksheet, the instructor will review the worksheets with the class. At this point, the instructor will also have students read their answers and discuss student views. The responses will vary and make for interesting class discussion.
- Business of Sharing Activity - Lab / Shop
The instructor hands out the Business of Sharing Activity.
See attachment Business of Sharing Activity.
The instructor tells students to choose a current legal, rental business and sign up their choice with the instructor. The instructor does not want more than one student to choose an existing rental business. The instructor will review the Business of Sharing Activity handout and tell students that they will create a PowerPoint presentation covering their chosen rental business. The instructor also assigns students to think of their own business of sharing and create a PowerPoint presentation for their business concept. Please see the handout for the PowerPoint presentation details. The students will need approximately 2-4 class periods to complete this activity.
- Business of Sharing Activity.docx [ Download ] null
Students will individually present their PowerPoint presentations on their chosen rental business and also present their own business of sharing to the class.
Students will ask questions and give feedback after each presentation.