The Young Entrepreneur’s scheme is to give children an idea about how to run a business in a group.
We chose our groups and thought of a name and a logo for our company. We then came up with ideas of products to sell and what we would use to make them. We then got a £20 investment and went to buy the materials to make our products. Then we got to work making our proto-types and brought them in to get Mr. Hagon’s approval.
After making our products to sell we did some market research so as to get the price right. After that we made posters and put them around the school promoting the sale and our companies. We then went around classes telling them what we were selling, the price range, company names and where it was.
When it was the day of the sale we went down to the Da Vinci suite to set up our stools to decorate and show our products as we wanted.
It was then an anxious wait until the first shoppers arrived but when they did, they arrived in droves. There were shoppers and sellers everywhere it was very interesting seeing what items were selling and which items were not. Most of our items sold but some did not. From this sale we have learnt what sells and what doesn’t. We can then put this information toward our next sale in 2012 and think about how we can improve our profits further.
It has been a brilliant project so far and the sale on Tuesday was brilliant. We have all really enjoyed the opportunities it has given us and look forward to hearing how much profit we have all made and preparing for the next sale.
Louise & Sam (Year 6)