final report template stage 3 - school enterprise challenge · 1 final report template 2015 final...

1 Final Report Template 2015

Final Report Template

Stage 3

IMPORTANT: HOW TO COMPLETE AND SUBMIT YOUR FINAL REPORT

This template should be completed by students with the support of teachers.

Please use the format provided as this is aligned to our marking scheme.

There are 3 Parts to the Final Report template.

- Part 1: Final Report Narrative. Please answer ALL questions.

- Part 2: Financial Reporting. Please answer ALL questions in Sections A-F. Sections G-H

are optional.

- Part 3: Our Monitoring and Evaluation. Please answer ALL questions in Section 1-4,

question 5 is optional.

You may use extra pages. However, please try and keep your submission to 20 pages

maximum.

The numbers in brackets e.g. (10) indicates the highest number of points that can be awarded

for that question.

Follow our top tips to score high points and increase your chances of winning a prize!

You can also earn bonus points by including supporting documents in the Appendix!

When you are ready to submit your completed Final Report to us, please follow these

instructions:- (Please note the file size limit: 5MB)

- Log in to your account at: www.schoolenterprisechallenge.org/login

- Go to the ‘Progress Report’ on the right hand side.

- Click on 3) ‘Submit Your Final Report!’

- Choose your file and upload your completed Template. Click SUBMIT!

Contact the School Enterprise Challenge team at:-

E-mail: [email protected]

Blog: http://schoolenterprisechallenge.wordpress.com

Website: www.schoolenterprisechallenge.org

? Any Questions

http://www.schoolenterprisechallenge.org/login

mailto:[email protected]

http://schoolenterprisechallenge.wordpress.com/

http://www.schoolenterprisechallenge.org/


Your School Details

a. School Name HOPEVALLEY FARM SCHOOL

b. Country SOUTH AFRICA

c. Business Name HOPE - ITHEMBA - HOPE

d. Business Activity BEADING

e. Main product / service BRACELETS AND NECK CHAINS

f. Brief description of your school business MAKING BRACELETS AND NECKCHAINS AS A TEAM AND SELLING THEM IN SUPPORT OF OUR EDUCATIONAL ENDEVOURS

g. Number of students in business team EIGHT

h. Number of students in school 87

i. Your school business social media links (Facebook page, Twitter, Blogs, etc.)

FACEBOOK; https://m.facebook.com/Beads-Of-Hope-Ithemba-1632238260350584/

j. Budget Period for the Financial Plan


Financial Summary You will be able to complete this section AFTER you have completed Sections A-F from the Financial Plan

on Page 6. This section is really important as it gives the judges a quick overview of your Finances. Please note this section should be filled in in US Dollars. NB- Rate $1 to R14.4535 –figures rounded off to

the nearest 10th of the cents

Estimated in Business Plan (Stage 2)

Actual

Start-Up Costs (Actual) Insert answer from Section A $35.00 $10.72

Total Income (Actual) Insert answer from Section B $138.37 $691.87

Total Direct Costs (Actual) Insert answer from Section C $10.72 $69.19

Gross Profit (Actual) Insert answer from Section D $128.34 $622.69

Total Indirect Costs (Actual) Insert answer from Section E $23.52 $120.39

Net Profit (Actual) Insert answer from Section F $104.82 $498.15

PART ONE: FINAL REPORT NARRATIVE Section A: Main Achievements

1. Please tell us the top five things that your school has achieved in the School Enterprise Challenge Competition. There are no marks for this question; however, your answers to this question help us to understand your school business better.

1. Exposed our learners and school to diligent entrepreneurship skills which are so vital

in our current education system 2. Build up our School 3. Marketed the school on the launch and through the selling of the products 4. Made some profit 5. Above all, we raised a group of disciplined and self-motivated learners in terms of a

business mind-set, setting goals, persevering and pursuing them and achieving something creating a great sense of ownership in the achievement – a success story

mailto:[email protected]


Section B: Business Implementation

TOP TIP!

These questions will give you the chance to show us how you actually implemented your school business. Please refer back to your Business Plan template if you need help to answer these questions.

2. Operational Plan: How did you actually produce your product/service? Please explain clearly your production process. (10)

a. We bought beads, twine or string, as our row material and scissors, needles and pliers as our tools

b. Did a workshop on how to design the bracelets and neck chains c. Came up with different designs or patterns and we chose the patterns we thought were

great d. Grouped the team into different responsibilities or design or product to make (bracelets or

neck chains) e. Set time to make the products as a team – carrying out our designated responsibilities

following designs and or patterns agreed on f. The process is threading the needle with stretchy string or twine – pick a bead by your left

fingers and thread through the bead hole – drag it down to the tail of the string and repeat the process following the desired pattern or design

g. On completion each leaner verifies and check the design and length/size of product if it’s the required size

h. Then the thread or string is locked by a knot or a metal cap which is pressed down by a pliers

i. Cleaning loose ends is done by a scissors j. Printing packaging cards with safety instructions and punching holes in the cards k. Tieng the product on the card with a ribbon l. Packing the finished product in a plastic packaging and sealing it

3. Marketing & Sales: Did you actually sell your product/service to the customers identified on your

Market Research? If not, why? Who was your Target Market? (10)

a. Yes, we sold the product to customers identified in our Market Research

b. Target market included and not limited to; 1. School learners 2. School staff 3. Volunteers to the school 4. Visitors to the school 5. Visitors to our campsite 6. Launch site community 7. Parents 8. Overseas – product taken by volunteers to sell on behalf of the team 9. Durban tourists – on Market days

Please tell us about your 4 P’s (Product, Price, Place, Promotion) now that you actually started your school business.

a. Product – What was your product?


Bracelets and neck chains

b. Price – What price did you sell it at? R10 and R20 respectively – (R20) $2 and (R50) $5 respectively overseas

c. Place – Where did you sell your product? Our school, Lily Of the Valley Children’s Village in Camperdown, Musgrave Market in Durban, St Henrys Marist College in Durban, Germany, UK

d. Promotion – How did you promote your product? E.g. Did you hold any launch event?

-Word of mouth, -Facebook, -held a big launch - news letters - Market place -community involvement - parents

4. Evidence: Please include here any evidence that shows you actually implemented your school

business; such as examples of records kept, press releases (if any), one-two photos from the

launch event (if any), one-two photos of the team running the business. You can get 5 points if

you answer to this question. Note: at the end of this Narrative section you will find an Appendix

for any other additional information you want to add.


Section C: Challenges and Solutions

TOP TIP!

Your answers to these questions will test your innovation and creativity in setting up your business. Don’t be afraid of writing about your problems or things that went wrong with your business. Recognising and

addressing problems are key skills for entrepreneurship.

5. What were the biggest challenges you faced when planning, running and/or implementing your business and how did you overcome them? Please give us some evidence of your innovation and creativity when solving these challenges (300 words max). (10)

Planning business

The idea – coming up with an idea of what we can actually do was difficult. We had lots of ideas and options to weigh and it improved very difficult and to some extend very confusing of what would be the best option between baking and selling cakes, a tuck-shop, a vegetable garden, bead making, a saloon and possibly sewing. After seating down with our teacher and doing SWOT analysis guided by our teacher, it was easy for all us to agree on bead making. We noted problems with perishables, like cakes it would be difficult to market them and ensure that we would not lose our profits after they go bad before selling them and they would need special places to keep them, lots of ingredients and stoves, the startup money we also didn’t have. Vegetables marketing will be difficult and we have problems with monkeys. Sewing needed a huge amount of startup capital and skills training before we can sell anything as well as a saloon. The tuck-shop limited our individual involvement and growth and bead making was outstanding.

Running and or Implementing business


Running the business was an exciting part and had challenges in identifying the key responsibilities Each individual can take and defining their clear roles and putting finance management guidelines in Place and the actual logistical challenges interms of transport and communication as well as looking Partners, but our mentor Mrs Tanyanyiwa, helped us figure out offices we needed to knock offices to put in place in our business so that it can run smoothly and we chose amongst ourselves offices or responsibilities we needed or felt we could do very well due to our passions and eagerness i.e. finances, secretary, marketing, logistics etc. We also needed training on the actual responsibilities and the actual proper way of carrying out the work which difficult part but once we started buying, cooking and selling mealies, all systems eventually fell into place with practical knowledge of meeting, writing and recording things . we also had challenges in designing the packaging and what we had to put and how presentable it would be for people to want to buy. We had a brainstorming session and we had homework to go and research on same products on the market. We noted that safety was key and the brand. So we decided to go with a brief history of our school and brief safety precautions. It turned out wonderful.

Section D: Outcomes 6. How have the students benefitted from the running of the school business? Please provide

specific examples on each of the following areas. (5)

a. Aspirations: Aspirations are defined as a young person’s ambitions and realistic goals of the future for themselves and their family/wider community. 1. A girl called Lethiwe is naturally skilled hairdresser and was inspired and wants to start her

own hairdressing business. 2. A Phumulani is selling sweets and chips to support and pay school fees for himself and other

needs and would want to explore other business avenues to improve his way of life. 3. Though the rest of the learners are still undecided about they would want to do, they agreed

that they have learnt a lot and the skills they can use their daily lives like budgeting, setting targets, planning, communicating skills among others

b. Knowledge Skills: Knowledge Skills are defined as the facts, information, and abilities acquired

through experience or education. 1. Planning 2. Doing SWOT (Strengths, Weaknesses, Opportunities and Threats of the Business) analysis

and weighing options in life before making decisions in life 3. Practical making of bracelets and necklaces 4. Practical skill of buying and selling – exchanging money 5. Putting value on things – cost of row products and final product 6. Marketing


7. Commitment 8. communication

c. Attitudes: Attitudes are defined as a manner of thinking, feeling or behaving that reflects a state of mind or disposition; the way a person views something or tends to behave towards it. 1. Self-motivation – desiring to go a step further in exploring other wings in what they are

doing. 2. Positive thinking – seeing the progress and achievement 3. Greatly empowered - some received certificates for their speeches 4. Enjoyed travelling and meeting new people and become more open minded

7. How has the school benefitted from the running of the business? Please provide specific examples. (5)

1. Having a group of positive thinkers and achievers in the school changes the tone and

dynamics of the school in a positive way – they are role models 2. School positive publicity 3. Supplementary resources from their business will ease strain in school coffers 4. Helps in fundraising for other aspects due to the positive efforts 5. Opportunity to show appreciation for good behavior and great efforts among teens.

Section E: People, Profit, Planet

TOP TIP!

Remember your business needs to address all 3 People, Profit, Planet criteria to win our Top Global prize. Extra points will be awarded to the most innovative answers in this section.

8. People: How did people benefit from your business? - An opportunity to see innovativeness in a group of young teens coming from corrupted

communities and back grounds, orphans and vulnerable but making effort to change their lives and the lives of others around their community is a game changer in our current negligent community of young and old who are on the street and jobless.

- Besides the above there is the elegance of beauty, identity, sharing sentimental value in bead work

- They are affordable and accessible - It promotes open mindedness in education – it’s all not about academics Please ask a teacher, a student, a parent and a customer what they think about your school business and how it has made an impact on their lives. Please include their quotes here (please try to keep them short). (5)

Teacher’s quote: This is innovation is Education, if all schools would do this, lots of our young man

and women would a different people in the future and we would create ourselves jobs. MR. JT

Student’s quote: Good idea and I can afford a beautiful bracelet or necklace. Miss.SN


9. Planet: What difference has your business had on the environment? How has your business improved the environment around you? Please be clear and specific and include one or two pictures (if you have any). (5)

- The business has no negative impact on the environment, the row materials are made from

recycled products. - The business enhanced the beauty of the environment, by complimenting the beauty of the

people and culture within the environment with its vibrant designs and beautiful patterns to suit different themes and festivals around the community.

10. Profit: How did you raise your start-up capital? What approaches did you take to maximize your profits? What would you do with your profits? (5) - Our mentor/Principal and her Secretary contributed money to buy green mealies which

were cooked and sold to the learners and community - We connected and made partners with schools, NGOs, overseas volunteers and community

to whom we have sold our products - Reinvest in the business and use some for the extremely disadvantaged learners in the school in-

terms of uniforms, school fees and stationary, as well as general school resources for the school

Section F: Business Development and Sustainability

TOP TIP!

A sustainable business is one that demonstrates the ability to continue for an indefinite period of time.

11. Business Development - What are your future plans for your enterprise? Please provide specific examples (200 words max). As an example, think about what other products you want to develop, etc. (5)

We would like to afford an opportunity to the younger grades the opportunity to develop in them the skills of bead making as well as diversifying the business to involve parents’ in a bid to help them fundraise towards school fees for their children in the school. The business provides all resources, enrolling parents and learners, do skills training and then the school will market the products oversees or market place with an additional profit on top of the cost of purchasing them from the parents. We would also like to open a bead shop where people can buy beads or order beads then keep it running

12. Operational Planning - How are you planning to run the business next year? Will new students be involved in the programme? Please tell us the steps you will take next year to keep your business running and continue developing it (200 words max). (5)

The challenge is our High School is closing due to financial constraints and the current group will be doing their Matric class is the last of the High School but however, plans as hinted above, point 11; we

- Introduce new primary school learners to the business - Training them and parents willing to be involved - Buy from parents and learners at a fair prize, ie. For each bracelet the child makes, R1 goes

Parent’s quote: Our children can change the future if they can really do it on their own. Miss. M.N.M

Customer’s quote: lovely product and well-priced. Mrs. L.M


to them personally - Open a bead shop and utilize market days - Target special calendar holidays and make specific bead work –valentines, heritage day...


Appendix (OPTIONAL Bonus Points)

Appendix (OPTIONAL Bonus Points) You can use this space to paste any additional items which support your business implementation, e.g.

examples of how you kept the team motivated, examples of how the business has been incorportated to the curriculum, team rotas, photos (3 photos MAX), etc.

Great team work outcome of the SWOT analysis and

first finished products.—SWOT is part of their Business studies Curriculum.

a

A Durban City Berea Newspaper Article, and A meal after a day’s job has always been profitable source.


PART TWO

Financial Reporting (20) Please note that this Financial Report is showing what you actually spent money on and what you

actually sold. Your numbers may be different to the original Financial Plan you submitted at Stage 2.

TOP TIP You may complete your Financial Report using your local currency. Please tell us what this is, E.g. Indian Rupees. In the report we will ask you to convert your TOTALS into US $. You can use this website to do this: http://www.xe.com. Remember to write down the exchange rate you are using in the box below!

Please add any extra rows to the tables where necessary.

Local Currency used (E.g. Indian Rupees)

Exchange Rate to US Dollars (E.g. 1 US $ = 63.52 Indian Rupees)

Period of time budgeted for (E.g. 3 months)

Please note you may use your own financial plan template however you MUST still complete the

financial summary provided at the beginning of this Final Report Template.

Section A: Start-Up Costs (Actual) / Business Development Costs (Actual)

TOP TIP

Your Start-Up Costs or Business Development Costs are the costs of the Equipment and Supplies that you used

to start your business. If you already had the products that you needed to start up your business please list

them here and put 0 as the Unit cost.

1. Please list all your actual Start Up OR Business Development Costs

Start Up OR Business Development Equipment

Quantity Unit Cost Total Costs of your Equipment (Quantity x Unit Cost)

Pliers

1 R20 R20

Needles

10 R9.50 R5

Thread elastic

2 R5 R10

beads

2kgs R30/500G R120

Start Up OR Business Development Supplies

Quantity Unit Costs Total Costs of your Supplies/ Expenses (Quantity x Unit Costs)

Labour

8 R5 R40

Transport (fuel)

1 R200 R200

Total Start Up Costs OR Business Development Local Currency

http://www.xe.com/


Costs (Add your Total Costs Together)

R155

In US Dollars $

Section B: Income (Actual)

2. Please list all the products or services that your business sold. Please tell us the amount you sold and the price at which you sold your products/service for.

Name of Product or Service

Quantity Sales Price Sales Income (Quantity x Sales Price)

Bracelets

200 R10 R2000

Bracelets 100

R20 R2000

Bracelets 400

R10 R4000

Neck chains 50

R20 R1000

Bracelets 100

R10 R1000

Total Income (Add all the ‘Sales Income’ together)

Local Currency

R10000

In US Dollars $

Section C: Direct Costs (Actual)

TOP TIP

Direct Costs refer to materials, labour and expenses related to the production of a specific product or service. Don’t forget that the direct costs from your Start-Up Supplies/Expenses in Section A should be included here

too. Please add extra rows if you need to.

3. Please list all of the items you bought in order to make or provide each product or service.

Name of Item Quantity Unit Cost Total Costs (Quantity x Unit Cost)

Product/Service 1 Please tell us what this product or service is here:

Needles

10 R0.50 R5

Threads and Elastic

10 R5 R50

Thread

1 R5 R5

Product/Service 2 Please tell us what this product or service is here:

Beads

2kgs R30/500g R120

Plastic beads

4 R400 R400

Plastic Charm

200 R0.50 R100


Glass beads

3 R100 R300

Product / Service 3 Please tell us what this product or service is here:

Pliers

1 R20 R20

Total Direct Costs (Add up all the Total Costs)

Local Currency

R1000

In US Dollars $

Section D: Gross Profit (Actual)

4. Please calculate your Gross Profit in your Local Currency and then convert it to US Dollars $.

Calculation

Local Currency US Dollars $

Total Sales Income R10000

Total Direct Costs R1000

Gross Profit (Total Sales Income – Total Direct Costs)

R9000

Section E: Indirect Costs (Actual)

TOP TIP

Indirect costs are items that you need to spend money on to run your business. However, they are not related

to the making of your product or service. E.g. Marketing or transportation costs involved in getting your

product to market.

5. Please list all of your Indirect Costs. Name of item Quantity Unit Cost Total Costs (Quantity x Unit

Cost)

labour

8 R5 R40

transport

1 R300 R300

transport

1 R300 R300

labour

8 R5 R40

transport 1

R300 R300

Total Indirect Costs (Add up all the Total Costs)

Local Currency

R980

In US Dollars $


Section F: Net Profit (Actual)

6. Please calculate your Net Profit in your local currency and convert this to US Dollars.

Calculation Local Currency US Dollars $

Gross profit

R9000

Total Indirect Costs

R2840

Net Profit (Gross Profit – Total Indirect Costs)

R7200

Questions 7, 8 and 9 are optional!

Section G: Return on Investment (OPTIONAL) Please answer 7a. If you are on the NEW BUSINESS TRACK and setting up a business for the first

time OR

Please answer 7b. If you are on the BUSINESS DEVELOPMENT TRACK and have an existing business.

7. a. Please calculate your Return on Investment (Optional) - If you are on the NEW BUSINESS TRACK

Net Profit R7200

Total Start Up Budget R155

Net Profit / Start Up Budget x 100 = Return on Investment (%)

2 %

OR

7b. Please calculate your Return on Investment (Optional) - If you are on the BUSINESS DEVELOPMENT

TRACK

Total investment before 2015

Total Business Development Budget 2015

Net Profit 2015 / (Total Investment before 2015 + Total Business Development Budget ) = Return on Investment

%

Section H: Product and Profitability (OPTIONAL)

8. Please use the following Product Profitability Worksheet for each Product or Service you are selling. We have provided you with one worksheet, however please add additional sheets if necessary. For this section ‘Product’ refers to the Product or Service that you are selling. Working out your product profitability is important as it can give you an idea of how you can increase the profitability of your business.

Product / Service 1

Name of product

Sales price of product


Amount of Units Sold

Total Sales Income of product (Sales Price x Amount)

Direct Costs Quantity Unit Cost Total Cost

Total Direct Costs for Product 1

Profitability

Direct Cost per Product item (Total Direct Cost for

Product ÷ Amount produced of Product)

Gross Profit of Product item (Total Sales Income for

Product – Total Direct Costs for Product)

Percentage Profitability (Gross Profit of Product item x

100 ÷ Sales Price)

9. How will you use the information from the product profitability to develop your business in the future?

Additional Comments: If you have any additional comments about your Financial Report please put them in here:

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