Starting up a business!
The Senior School are having a Market Day at the end of the term. We are donating money to a charity of choice that we have researched. Right now, we are going through the process of starting a business so that we will know what to do for the actual market day.
First, we had to form a company. Some of our company names are: P.O.E.F., Mionionaires For Charity, Extreme Treats, Candymen, Fantastic Fizzers and Sweet Station.
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| Determining roles and who was doing what.. |
We were given a recipe. We decided on who was doing what role then we made our product - Sherbet Lollipops! We had to make sure there was "quality control" with our products. This meant making sure all of the products were high quality and looked the same.
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| Making the product |
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| Team Work |
Next, each company came up with a price for each Sherbet Lollipop. Prices ranged from $1 to $2.20. We had different reasons for the prices we chose. The teachers told us that we had to pay the money for the ingredients back. We worked out how much we owed the teachers and then calculated possible profits we could make with different prices. The total amount each group has to pay back is $4.10.
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| Working out the amount of money owed to the teacher
Next, we had to think about marketing our product. We thought to create print adverts to hang around the school, ads on the computer, notify the school through the Daily Details and write large advertisements in chalk on the concrete. Many of us included slogans in our advertising.
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The next step is selling our products at Morning Tea on Wednesday the 21st of May.
We will let you know how this goes!
