The Tenner Challenge is a National Enterprise Challenge where you are pledged £10; you have four weeks to set up your student company and decide on what product or service you will sell.
The Tenner Challenge is a National Enterprise Challenge, where you are pledged £10; you have four weeks to set up your student company and decide on what product or service you will sell.
This will take place on March 4th and will last a total of four weeks. Students will have to successfully work as a team to obtain as much profit from their product or service as possible. They must decide how to spend the money, and at the end of the Challenge they must pay back their Tenner plus a £1 legacy contribution.
Students that are involved in this event must achieve the following in order to obtain the £10:
• Carry out market research
• Advertise their product or service
• Plan how to spend or donate the profits made
• Decide how to promote their product
• Assign jobs to all working team members
• Successfully construct an accurate business plan
• Calculate the budget template
• Create a sales pitch in which explains in 60 seconds, why we should invest in their student company
• Design a logo for your company
The winners are chosen from categories such as Most Profitable Business, Best team, Most Inspiring Individual in a Team or working on their own, Best community Impact and Best in Sustainability.
Details about our idea for the tenner challenge:
Team name: T.J.K.L.C.M.E
Our product/idea includes us hosting a charity Dodgeball event that allows us to raise money. It will involve teachers from around the school and we will be selling various drinks during this. This will have a positive impact on the school as it will allow the teachers to engage more with students and will increase people’s attitude and wellbeing towards school. As a company we decided that hosting a charity Dodgeball event would allow us to make an income from what we started with and by doing this it allows us to reach out further and develop more ideas once we have a significant amount of money. Customers should want to support us as 100% of the money made will go to a charity of our choice and it is a fun, new activity for students and teachers to be involved in.
Tom, Jack, Kieran, Lewis, Conor, Matthew and Eddie