Level 3 Students show their business acumen as they successfully launched new personalised business: The Little Letter Shop.
Our Young Enterprise Students successfully launched their business venture on Thursday 1stNovember with a business presentation. The Young Enterprise students were surprised by Steve Ascott, the regional manager for Young Enterprise who attended the evening presentation. “It’s fantastic to see that Young Enterprise is embedded in their BTEC Qualification and to see all the skills demonstrated so confidently.” Steve Ascott quoted.
The evening was focused around the launch of their products which are created with scrabble tiles. Launching with keyrings and photo frames they hope to move onto personalised Christmas decorations as well. The groups market research, which undertook various methods including a SWOT analysis, focus group and questionnaire completed by 157 people, uncovered a desire for unique and personal products that can adapt to the market.
The group began fundraising beforehand to launch their products with a Tombola held at Matalan in Grantham where they raised £54 and a cake sale held at the College where they raised £47 – which will go towards manufacturing and insurance costs. Throughout the presentation evening, they also sold a total of £183 worth of shares and have currently sold a total of 339 shares sold at just £1 a share.
The next step for the Young Enterprise group is to begin production for more products as they look to sell products from the Little Letter shop in a number of places; including Grantham College’s Little Gems, at Christmas Markets and craft fairs.
Make sure you keep an eye out for more exciting updates about their business ventures. If you’re interested in learning more about our business courses then head over to our website to see what we could offer: http://www.grantham.ac.uk/courses/business-accountancy/