Wishford Enterprise Award
Two student-led businesses went head-to-head selling their ideas to the friends and families of St Faith’s Prep. Both companies had excellent ideas and both were very successful.
Make ’em up (£2 per bracelet)
This company bought bracelet making equipment and ran a workshop for anyone wanting to make a customised piece of jewellery. They had a lot of interest and were busy for much of the school day. Their mature attitude and dedicated approach to their company meant that they could supervise multiple customers and maximise their income.
Direct purchases (Amazon) £49.02
Marketing & advertising:
Whole school letter £5.82
Photocopying £0.24
Income £233.43
Net profit £190.47
Snap Frame (£2 per photo)
This company set up a photo booth and provided props and dressing up items. This company’s idea appealed to a wide range of customers including children, parents and teachers. The company were very busy and by keeping costs down from the start they were able to make a good profit.
Direct purchases (Amazon) £13.98
Marketing & advertising:
Whole school letter £5.82
Printing of photographs £3.40
Income £245.90
Net profit £237.74
Nine companies developed their ideas during weekly sessions. They conducted market research in the form of a questionnaire; they researched the price of their products and predicted possible profit. Each company then pitched their idea to a panel of ‘dragons’ using PowerPoint presentations and individual business plans.
The two chosen companies to receive £50 each from Wishford were Snap Frame and Make ‘em up. These two companies then continued their weekly sessions. They completed purchase order forms in order to comply with school purchasing rules and managed their own advertising.
On Friday 17th March, both groups set up their companies and, throughout the course of the day; they were visited by every year group.
It was a long and tiring day for the workers but they all enjoyed the experience and it was a roaring success!