Five students out of the 30 who competed placed at the 8th Annual Ogallala Commons Region Youth Entrepreneur Fair at the Cole Community Center Nov. 18.

The students presented a business plan to judges in two categories. Junior Megan Williams won first place, earning $1,000 dollars, and junior Madison Taylor won second place, earning $750, in the “In-the-Future” category. Senior Garet Wilhelm won second place, also earning $750, and sophomores Victoria Balderas and Breanne Gugenheim won third place, earning $500, in the “Ready-to-Go” category.

“Students were given the opportunity to win prize money to actually start their own business,” business teacher Marcie Cook said. “Their business plans are for an actual, viable business as opposed to just writing a business plan to meet the curriculum requirement of the school.  Students go through the process of brainstorming a business concept, writing a business plan and then having to pitch their business idea to judges.”

Cook said the students have been preparing for the fair since September after attending the Ogallala Commons Youth Engagement Day Sep. 18.

“During the Youth Engagement Day, the students toured local businesses on the square in Canyon, attended short workshops for each section of a business plan and heard from several young, local entrepreneurs,” Cook said.

The students created a written business plan which included the business’s finances, an exhibit booth and a pitch for an interview with judges for both categories.

“The ‘Ready-to-Go’ category was for those students who already own a business or whose business concept was ready to be implemented in the near future,” Cook said. “The ‘Still-in-the-Future’ category was for those business plans that would need more planning, time and resources than the student was prepared for at the time.  These plans are much more conceptual in nature and are not ready to be implemented soon.”

Williams, who created a bakery which meets certain dietary restrictions as her business, said attending the fair gave her connections and is helping her get an internship.

“It was difficult assembling the plan and making sure it was professional enough for the fair,” Williams said. “But I did enjoy the fair itself and presenting my plan to the judges one on one. I spent quite a bit of outside time working on it. It was great to hear that I won. All the work had a purpose, and it was excellent to know that it paid off.”