Who doesn’t love hot chocolate? On December 5, you can drink hot chocolate to your heart’s content at the Owensboro Convention Center when local elementary school students will be competing in the Hot Chocolate Challenge.
This is the second year for the Hot Chocolate Challenge, which is presented by Junior Achievement of Western Kentucky and the Owensboro Office of the Kentucky Innovation Network. The challenge takes place Saturday, Dec. 5, from 11:30 a.m. to 3:30 p.m. on the lawn of the Owensboro Convention Center.
Each team is provided a table and hot water; it’s up to the team to get a recipe, set the price and design a marketing strategy to sell their product to the public. Teams keep their earnings at the end of the day, which most teams donate back to their respective schools.
Awards will be given in two categories: the team with the highest profit margin, and the team with the most creative marketing strategy. The winning teams will receive a $100 gift card for the classroom teacher or after school coordinator and the students will win a pizza party for their classroom at school.
“In just its second year, the Hot Chocolate Challenge has continued to generate excitement and we are proud of the success of this partnership with Junior Achievement,” said Joe Berry, Vice President of Entrepreneurship at the Greater Owensboro Economic Development Corporation and Director of the Owensboro Kentucky Innovation Network office.
Berry says it’s interesting to see what the teams come up with to sell their product. Last year, one team used a QR code as a creative way to market their hot chocolate. Another team adjusted their price and found they sold more when they dropped the price. “These are all great business lessons,” Berry said.
The goal of the event is to develop a culture of entrepreneurship in the Greater Owensboro region by giving community youth an opportunity to develop, market and sell a product while providing a fun, uplifting experience that brings the community together. It rewards initiative and creativity while teaching business fundamentals, and encourages youth to dream big and take risks.
The Hot Chocolate Challenge was originally scheduled for this past Saturday, but due to the heavy rain and cold temperatures, the event was rescheduled to December 5. “The new date and time will allow for the event to complement all the other wonderful events taking place in downtown on December 5, and we hope this will translate into a great crowd to reward the hard work of the student teams,” Berry said.