LA GRANGE – Lyons Township High School students recently presented product ideas to a panel of area businessmen and women and entrepreneurs in a project modeled after the television show "Shark Tank."
Students in LT’s introduction to business classes pitched their products, showed the “sharks” their prototype and explained their marketing strategies and financial components at a La Grange Business Association meeting May 10, according to an LT news release.
The winning group, sophomores Angelina Godinez and Kiley Durkin, both of La Grange, and their Plush Pillow idea won over the sharks and will receive marketing, financial and promotional support so they can sell their product, the release stated. The Corporate Identity Kit Package valued at $5,000 includes logo, business card and letterhead design, and more.
Portable Plush is a "new and improved" travel pillow, providing double the support, the release stated. The pillows, which are offered in adult and child sizes, are made of super soft anti-pill fleece and filled with royal-silk fiberfill stuffing. They are offered in numerous colors and designs. The pillow has a circular head rest connected to two neck pads to provide support on both sides, and the two neck pads connect with long stripes of velcro to allow personalized fitting. All pillows are handmade and sewn, according to the release.
The project required students to work in pairs over about five weeks and develop a business plan based on a product or service of their own design. The students’ business plans included an executive summary, company description, objective for the business, marketing plan and financial information, the release stated. The project also had to detail the cost of goods, selling price and estimated net income or net loss for the first quarter, as well as a partnership agreement.