Aired September 2, 2003
Why pay more for the national pastime? Families find a wallet-friendly alternative to the big leagues. Develop a business plan for a mock Minor League Baseball franchise.
Whether or not there is a Minor League team in your area, challenge groups of students to create their own teams along with business plans. First, have each group decide on an original team name and logo (the Web sites below may give groups some ideas). Next, challenge each group to outline its ideas for the profitability of the franchise. Have students consider the following questions: What items will be major expenses? How will the business generate revenue? How will the front office promote this team and entice fans to come to the park? Finally, have each group pick a site for its stadium and consider the pros and cons of that location. Have each group present its team and business plan to the class. Have the class vote on the team and plan students think has the best chance at success in a business sense.
Economics America National Standards
Standard 2 : Marginal Cost/Benefit
Students will understand that effective decision making requires comparing the additional costs of alternatives with the additional benefits.
Standard 7 : Markets - Price and Quantity Determination
Students will understand that markets exist when buyers and sellers interact.
The Economics America National Standards (http://www.ncee.net/ea/standards/) are published by the National Council on Economic Education (http://www.ncee.net/).
Official Site of Minor League Baseball (http://www.minorleaguebaseball.com/)
Financial summary & brief description of a minor-league baseball franchise (http://www.inc.com/magazine/19920101/3902.html)
Minor League Baseball, franchise, small business, venue, financing, profit and loss