Fiver Challenge | Stoneraise

Completed during June 2019

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!

The Fiver Challenge took place place for 4 weeks from Monday 3rd - Friday 28th June.

We are all very excited about getting involved with this Challenge. We have 6 small business ideas to get our teeth into.

See below images and videos of some of the activities that led the the final result...

Activities:

Initial ideas mind map
Initial plan
Market research using Google Forms (103 responses)
Analyse market research data
Design a business logo
Create a Dragons' Den pitch and video (see above)
Identify competitors
Research recipes and scale
Price analysis of different supermarkets
Plan shopping trip
Explored break even point
Worked out unit price of product/service
Visit variety of supermarkets to buy ingredients/products
Make products
Create posters and advertising campaign
Write to parents to invite to Pop-up Shop
Set up Pop-up Shop and ensure ingredient lists available for all customers
Held Pop-up Shop
Counted the cash and discovered profits made
Set aside money for Young Enterprise/charities of choice

Fiver Challenge - Pop-up Shop Letter - a