Young entrepreneurs from Oswestry School have been tasting success and discovering all the highs and lows of starting a new business.
Last September 23 lower and upper sixth Business students set up 7 very different OSBIZ ventures. Each group developed a product that addressed a gap in the market at Oswestry School and having conducted research to draw up a business plan they pitched their idea to a panel of investors. Once successful pupils established contact with suppliers, produced their products and marketed their idea to their target consumers.
OLP (Oswestry Logo Production) run by Robert Duncan, Iwan Williams and Joshua Munford was the first venture to win funding for personalised mugs with the school’s Christmas Enterprise Fair providing an excellent springboard to launch the business.
Spokesman for OLP, Iwan Williams, said “OSBIZ has allowed us to experience a business environment and we have gained valuable insights into how we need to work together and make decisions that benefit the business.”
Pink Sugar’s homebaked wares, made to a secret recipe by Serena Marks, Eliza Liepina and Klara Wunderle, were extremely popular with other students.
Entrepreneurs, Serena and Eliza, said “From this business experience we gained skills in team work, time management and setting a price and promotion. We have a realistic view of owning a business and know our target market, strengths and weaknesses.”
Sarah Bucknall and Charlotte Cope saw a gap in the market for hoodies for the school’s boarding houses and set up OsBrand to cater for this niche market. The hoodies were personalised with the boarding house and school logo on the front and the student’s name on the back.
Sarah and Charlotte said, “OsBrand was a perfect opportunity for us to put our business theory into practice and it gave us insights into the way business works from setting it up to day-to-day running. One of the main things we learnt is that negotiation and organisation is key to having a successful business.”