Completed during June 2019
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We made a staggering £264.20 profit which was distributed between several charities.
Class Oak took part in the Fiver Challenge, a national competition for young people aged from 5 – 11 years. This Challenge is free and run by Young Enterprise (www.fiverchallenge.org.uk) - the UK’s leading enterprise and financial education charity, bringing learning to life and help encourage future aspirations in young people. Pupils are pledged £5 and have one month to set up a mini business and create a product or service they can then sell or deliver at a profit. Pupils decide how to spend or donate their profit. It’ll be great fun too!
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The Fiver Challenge took place place for 4 weeks from Monday 3rd - Friday 28th June.
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We are all very excited about getting involved with this Challenge. We have 6 small business ideas to get our teeth into.
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See below images and videos of some of the activities that led the the final result...
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Activities:
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Initial ideas mind map
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Initial plan
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Market research using Google Forms (103 responses)
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Analyse market research data
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Design a business logo
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Create a Dragons' Den pitch and video (see above)
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Identify competitors
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Research recipes and scale
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Price analysis of different supermarkets
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Plan shopping trip
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Explored break even point
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Worked out unit price of product/service
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Visit variety of supermarkets to buy ingredients/products
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Make products
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Create posters and advertising campaign
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Write to parents to invite to Pop-up Shop
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Set up Pop-up Shop and ensure ingredient lists available for all customers
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Held Pop-up Shop
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Counted the cash and discovered profits made
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Set aside money for Young Enterprise/charities of choice