Young Enterprise questions. Bag packing questions. Overall business questions? Please answer, 10 POINTS!?

Question

Hi,

I'm Managing Director of our Young Enterprise team we're currently running and we have some questions. We would be extremely grateful for any ages/genders etc to answer.

1. For fund-raising, we were thinking of bag packing in supermarkets but we've rang up many and there has been a long waiting list for all. So my question is - What supermarkets are best to target to hopefully have a bag packing opportunity sooner and also, is there any other shops to target (not just supermarkets) for example, big stores like Ikea?

2. One place we will be selling at is the German Markets - If you were going to a christmas market, what sort of things would you buy? Would you buy, for example, homemade christmas cards, or maybe cute class figurines, maybe something else?

3. We have some ideas already so for this question, all we would like is opinions please!
We were thinking of our unique selling point being that we're eco-friendly. We could have different branches off this, like homemade soaps and bath products among other things. Would they sell all year round? Would you buy them? Who for, you or as a present? Do you like the idea of our USP being eco-friendly? Any other general comments?

4. Do you have any overall business ideas for us? We do have our own but this is all part of market research I suppose. It doesn't have to be limited to a product necessarily, it could also be a service or something? One thing to remember is that we do have limited funds as we have to raise them ourselves. Another limitation is the fact that because of health and safety issues, we cannot make our own food and drink. But that's about it really! Any ideas at all would be fantastic!


Thank you in advance!

Answer 1

Hi Molly,



Good questions - and well done on getting involved in Young Enterprise.



Here are my thoughts.



1. You shouldn't be fund raising in this way at all (your business advisor should be discouraging this) as you are a business, not a charity. Business don't raise starting capital by packing bags at supermarkets. You have a means to raise funds to start your business - selling shares. You should sell shares to raise funds and focus your time on yoru business plan.



2. German markets sound like great places to sell stuff. Have a look at this web site for some product ideas. http://www.achievertalk.com/achievertalkwp/2010/07/10-popular-young-enterprise-product-ideas/ In general, people go for artsy, low cost gifts and knick-knacks. Even something obviously hand or home made will sell if the quality is good enough. Why not go to a local craft fair this weekend and see what people are selling and what sell well?



3. Eco-friendly is good. But these days it is not enough by itself. Your product has to be good/unique/innovative as well as being eco friendly. If your product is good enough, then make the most of your eco credentials. BUT - make sure you are eco-friendly. You can't say you are if you are obviously not (eg last year I saw a YE company rave about their eco-friendly product and then put it in a plastic carrier bag!).



4. See the link above. For some help on thinking of ideas and selecting the best idea to suit you, see:



http://www.achievertalk.com/achievertalkwp/2010/06/what-shall-we-sell-how-to-generate-ideas/

http://www.achievertalk.com/achievertalkwp/2010/06/what-product-should-we-choose/



Good luck with your company!

Answer 2

1 - Plastic carrier bags aren't regarded as eco friendly, so to do this would be contrary to your third objective. If you wanted to work to raise funds for the project then I would just go through the local paper looking at vacancies for casual work. Possibly some of your team could even register with a local agency near the school as well, telling them in detail why you are looking for the employment.



2 - Have a look through some of the Christmas and Gift websites (it might take forever to see all of them) and see which items you would fancy competing on. Check with the market you are taking a stall at, to see which items are already being sold, and try to come up with something else.



3 - Eco friendly would only ever be a USP if all your other competitors were clearly not clean, green, and good to know. Having said that, it is still a hugely worthwhile objective and sits very well alongside the charity fundraising and learning objectives of a schools Young Enterprise endeavour.



4 - Other than selling chocolate items, could you find out how those temporary shops always spring up at Christmas, and then try and get some stock from the same place but then sell them on the combined footing described above. Failing that, what do schools and their pupils need at this time of year, or if you are trading for a charity what assistance could they give you?



Hope this helps, live long and prosper

positively enterprising

Answer 3

1. Ikea don't give carrier bags, so that is a non-starter, they are eco friendly so you either bring your own or buy a large yellow bag, most people do without

try maybe Lidl or Aldi, the main supermarkets are as you say booked up forever



2. if it was a German markets, I'd be looking for something German



3. sorry doesn't appeal to me, but may appeal to other people



4. Maybe think about jewellery, the beaded bracelets are very popular just now among young people and older people too,