Business Ideas for the Young Enterprise Competition

[Charliee_H]

Hi Guys,

My name is Charlie Henderson, currently still in school (sixth form) but at the same time, a keen, young businessman. I have had a small business on ebay myself which has been going great but am not allowed to use in the competition.

I have created this thread for a little bit of help from you guys, with your great ideas and different ways of looking at things.

This year at school we have had the opportunity to become part of the 'Young Enterprise' scheme. This is where pupils are put into groups of 8 and are given £500 to start up and run a business by themselves. We will have to organize manufacturing if needed, buying materials, pitching and selling the goods ect. This business could be a new product, service or anything that produces good ideas and most importantly, makes money

As we have just started this, we are in need of any ideas possible that you may have. Previous ideas at my school consist of a cookery book for kids, a new fizzy drink, biodegradable festival gear and reflective lights for kid safety, with the cookery book getting furthest in the competition to date. A quick briefing by my teacher hinted us to products that would tick the 'ethical' box, but this is not essential

Any business ideas are welcome and your help would be greatly appreciated.

Just as a little extra point, a fundraising scheme may also be needed, so any ideas on this may also be useful.

Thanks
Charlie

 

[Super Simon]

My advice would be to forget the fizzy drink. £500 wouldn't even touch the sides if you wanted it to be of any commercial success.

I like the kids cookery book idea, however you'd need more ideas as you grow the product to keep it fresh otherwise it'll simply be copied and multiplied.

 

[toastking]

I did this at my college, but then when a terrible idea (a calendar with photos of people from college, a terrible idea because everyone had only just met and so didnt want picture of the other people) was voted in.

Are there any crazes going on at the moment in your school? Is there something you could easily do and then find a market for?

Your biggest customers will be either people from your school, or their parents. This is an important factor to consider. Maybe you could do something to help out the parents?

Generalistic advice but I think this should help a little.

 

[TotallySport]

someone posted this last year for their son, if you do a search of the forum it had some great ideas on it.

Good Luck

 

[avantime]

If go down the cook book route I would use a "print on demand" book printer. I have used Lulu for an art exhibition catalogue in the past. You can have samples made and then take orders through the site.

As it's print on demand this will free up your cash for other products!

 

[bobbyparker]

Find something with good ethics. i.e if it was a cookbook idea quick, and healthy recipes for students.

How about a company which delivers a fry-up on saturday and sunday mornings for all those students hungover?

 

[Charliee_H]

thanks for the ideas so far guys, these are great! I will be discussing these with my team at our next meeting. Keep the ideas coming, thanks so much!

 

[Spearmint]

Hi Charlie

I don't suppose your teacher is aware that you're cheating by asking a business forum, but what the heck it shows initiative! lol

I don't know how long you have before you are assessed but I will assume that you have the full academic year to develop and test it.

I've a couple of ideas for your group.
For a fund raising scheme you could perhaps consider a raffle, with a prize appropriate to attract those that buy tickets which are usually adults. Maybe, you could approach a special restaurant and negotiate a special deal for the winners of a meal for two for example, but if you have other prizes as well, thats always a bonus (but negotiate with all those taking part as this will make your profits greater). By doing this you can actively involve all members of your group to sell enough tickets to cover the prizes that you'll be offering.
You may will also need to research who can produce your tickets and you will have to pay for this as well, but again negotiate you may be surprised by the result.

For business idea, what about car washing - there are 8 of you after all. Produce some flyers or calling at houses, tell them that you're students doing xyz etc and the calls will come in, if the price is right. Perhaps you can offer an extra service by cleaning the inside of the car as well for an additional cost.
You will of course have to consider what equipment you will need to do that.
If the customers are happy after the cleaning try making the next appointment to do the same again, as those customers (if happy) are likely to be the ones that will accept repeat business. Maybe offer them a discount for their next one. Tell them to tell their friends. Get some business cards produced as well, so that they can pass them on.

Best of luck

Peter

 

[jhardy2008]

I think you can start a website on foods & beverages. At there you can place products for sale with relative information.