Year 9 students of the subject Start-up for Young Entrepreneurs launched their micro businesses to huge crowds in the Auditorium foyer on Monday.
Five ‘lean start-ups’ sold everything, from milk shakes to tacos. Doughlicious, specialising in the students’ own cookie dough recipe was the standout success, with sales totalling $380.
Market Day is the culmination of five weeks of assignment work requiring students to collaborate in the development of a feasibility study that outlines the proposed business’s competitive advantage, competitive environment and financial projections. Students then produce their products after considering quality and workplace health and safety considerations. Thank you to the many family kitchens that ran overtime in the lead-up to Market Day.
The College provides the finance to the student groups for start-up costs (such as the purchase of ingredients), with the businesses expected to pay back the full value of their loan after Market Day. This week included a lesson on calculating profitability ratios, which highlighted recent increases in the cost of many ingredients, particularly butter. Net profit overall for the event is likely to be a little down in 2018 – presenting another real-world teaching opportunity!
Head of Faculty - Business