There's no better way for students to understand business than to run their own! Fundraising can inspire fabulous creativity and entrepreneurship in young people and there's plenty of lessons to be learnt along the way.
One of our expedition participants, Kate, discovered there's no better place for fundraising than at school!
Here she shares her experience.
'When you sign up for an expedition, fundraising is one of the biggest challenges as it is no small amount. For people like me, the only way to go on the trip is to get to work and get people to dip into their pockets!
Before you start doing any fundraising you really need to sit down and set an amount of money that you’re aiming to achieve. This amount should not only be decided for you personally but also how much you want to raise as a group.
You can go straight into doing lots of different things but many of us found that these didn’t actually make the most money and by sitting down and planning you got further.
We knew to make money we had to supply a product or a service that people wanted. We also knew that if the demand was really high we could charge more and make a bigger profit. In the end we decided that we wanted to set up a business that would sell hoodies to the year 11 leavers. As students ourselves we felt we understood what other students wanted and how much they would pay. Making the product personal to the school also gave us an advantage.
We approached some companies who could produce our hoodies and found a great company who were really keen to work with us and gave us a really good price. By approaching several companies we were able to compare and make a good choice.
We advertised our hoodies all around the school and nearly every year 11 student bought one. We made a £10 profit on each one.
Our hoodie business for the leavers was so good that we looked at different target markets for our product and sold hoodies for four different school trips as well as expanding our range, designing and selling reusable water bottles for students at school.
School hoodies are an ‘easy’ was of getting money as you don’t have to put a lot of physical energy to them and you can make LOADS of money. However they take a lot of organising! What I’ve learned from the process is that there are definitely people who do more than others and you are always more successful if you plan in advance and are organised! By doing activities that are appropriate for a large audience (not just your family and friends) your success is higher, so use your school as there are so many people who are willing to buy!