Our Grade 10 Learners have started their own small business selling LIV Key rings.
The key ring and beading business was inspired by Teach A Man To Fish School Challenge – “Education That Pays For Itself”. Teach a Man To Fish is an NGO based in UK and founder, Nik Kafka has a vision of reaching out millions of our young men and women acroos the World and equip them with Enterpreneural Skills with proper business skills and principles. The young men and women are expected to be dedicated to the running of the business in every sense of it. Ideas, making or production, marketing, selling, budgeting, doing SWOT analysis of their business etc. This project is run by Grade 10s in the school with hooe that they will be mentors of their young brothers coming up in the school.i.e.next year’s Grade 10s.
The bigger picture of LIV School Business is to setup a little company/business. These are options on the table currently
There are X2 options to look at (1)A manual process using Doming guns, or (2) A Doming machine (refer attached).
They recommend the Rapidome machine. Materials per unit are cheaper and obviously a machine can produce higher volume. The below costing is based on this method:
RAPIDOME 600 machine R18 000
COMPRESSOR 5 000
WORKSTATIONS 5 000
DRYING RACKS 2 000
GRAPHICS PROGAM 5 000 (Coral Drawer)
SUB-TOTAL R35 000
In addition there are other Set-up costs, including working Capital, stock, training, etc.. The above is focused on.Brian, our mentor in the business who can assist with some of these other costs when they arise.
The business has to make profit and all profits will go towards:
- LIV School Education resources
- Identified learners in our local community in need of educational support – in terms of stationery and books
- Grow the business to be self sustainable.
- Training or equalling the learners for different skills, including business management skills .
- Educational tours arranged by the learners inline with Business Studies or Entrepreneurial skills development.
- Fund possible other businesses agreed upon by the Gr 10 learners and their mentors
- Maintaining machinery and repairing including expansion as seen fit from the growth of the business .
- Marketing the business.
- Any special resource persons who may need payment for their services.
- Any other special services required for the smooth running of the business.
- Exit strategy- (Life Skills) Personal development of the learners in terms of financial management skills. Every learner will be expected to open a bank account and they will get a portion of the profits. They will only be allowed to use a certain percentage of the money, the rest will be savings for the time they will be in College, University or wherever God places then in the world after being released from LIV Village. – we are yet to work out the detail…
- We also look at opportunities of venturing into partnerships with different other business for the growth of the business- how? Will keep our minds open to such opportunities!