STANDARDS

CCSS: 6.RP.A.3.B

TEKS: 7.4D

MPS: MP1, MP3, MP6

# Mikey’s Munchies

## THE KIDPRENEUR FILESMeet some amazing kids who started their own businesses!

Courtesy of Mikey’s Munchies (all images)

COOLEST MOMENT
“We took a field trip, and the place had one of my machines in it. Everybody was buying stuff out of my vending machines! They didn’t know it was one of my machines until they saw my picture on the side. I ended up making about $90 that day off that one machine.” ## Starting A Business When Mikey was 8 years old, he wanted a snack from a vending machine. His mom told him that all the money that goes into a vending machine belongs to the person who owns it. As soon as he heard that, Mikey thought, “I want a vending machine!” First, he set up a lemonade stand to start raising money to buy his first machine. Then for Christmas, he asked to receive the rest of the money he needed instead of presents. He started with two snack vending machines, and he now owns 12 snack and soda machines across St. Louis. When Mikey was 8 years old, he wanted a snack from a vending machine. His mom told him that the owner of a vending machine gets all the money people put in. As soon as he heard that, Mikey thought, “I want a vending machine!” First, he set up a lemonade stand. That helped him raise money to buy his first machine. Then he asked for the rest of the money he needed as his Christmas present. He started by buying two snack vending machines. Now he owns 12 snack and soda machines across St. Louis. ## On The Job Every Monday and Tuesday before school, Mikey goes to each of his vending machines to collect money and refill them with snacks and sodas. He has to get up early to finish his rounds before classes start! He uses a phone app synched to his machines to know what products are selling. Each weekend, he goes shopping for bulk supplies to refill his machines. Mikey’s best seller? Cheez-Its! Mikey visits each of his vending machines every Monday and Tuesday before school. He collects the money and refills them with snacks and sodas. He has to get up early to finish before classes start! He uses a phone app linked to his machines to know what products are selling. Each weekend, he goes shopping for supplies to refill his machines. Mikey’s best seller? Cheez-Its! ## Community Connection In addition to running Mikey’s Munchies, Mikey teaches business classes in St. Louis. He teaches kids how to create a realistic budget and plan to carry out their own business ideas. “I think this is important because it’ll make our world a better place,” Mikey says. “There’ll be more jobs for people.” Mikey doesn’t just run Mikey’s Munchies. He also teaches business classes in St. Louis! He teaches other kids how to make their own business ideas happen. Part of that is creating a realistic budget. “I think [starting businesses] is important because it’ll make our world a better place,” says Mikey. “There will be more jobs for people.” ## MATH BEHIND THE BUSINESS KEY MATH IDEA: Unit rate The way Mikey makes money is by buying his supplies in bulk. Once he buys the items in bulk, he finds the unit rate of each snack or drink. This helps him set its final sales price. A unit rate is an item’s cost per piece, pound, ounce, or other quantity. Once he’s figured out an item’s unit rate, Mikey usually charges 2 to 3 times the unit rate to ensure he makes enough profit to keep his business running and growing. KEY MATH IDEA: Unit rate The way Mikey makes money is by buying his supplies in bulk. Once he buys the items in bulk, he finds the unit rate of each snack or drink. This helps him set its final sales price. A unit rate is an item’s cost per piece, pound, ounce, or other quantity. Once he’s figured out an item’s unit rate, Mikey usually charges 2 to 3 times the unit rate to ensure he makes enough profit to keep his business running and growing. Here's how Mikey does it. Record your work and answers on our answer sheet. Here's how Mikey does it. Record your work and answers on our answer sheet. Mikey usually buys a box of 18 candy bars for$12.49. What’s the unit rate of price per candy bar?

Mikey usually buys a box of 18 candy bars for \$12.49. What’s the unit rate of price per candy bar?

For the candy described above, Mikey wants to sell it for around 2.5 times the unit rate. What would the sales price be?

For the candy described above, Mikey wants to sell it for around 2.5 times the unit rate. What would the sales price be?

But wait! Mikey’s machines can give change only in quarters, nickels, and dimes. He wants to minimize the change given per purchase. How much should he sell this candy bar for? Explain your reasoning.

But wait! Mikey’s machines can give change only in quarters, nickels, and dimes. He wants to minimize the change given per purchase. How much should he sell this candy bar for? Explain your reasoning.

Skills Sheets (6)
Skills Sheets (6)
Skills Sheets (6)
Skills Sheets (6)
Skills Sheets (6)
Skills Sheets (6)
Games (1)
Lesson Plan (2)
Lesson Plan (2)
Text-to-Speech