This week we have all been buzzing with entrepreneurial spirit. The week began with a discussion about our similarities and differences. We identified that although there are many things that are the same about us, we valued the differences between us. We talked about what makes us different and discussed what genes were and what happens if there is a problem with your genes. We decided we would like to make a difference after watching a video about children with achondroplasia (dwarfism) and how things such as their kitchens had to be adapted to help them in their every-day lives. We wanted to raise money and so began our magnet – making business.
First, we had to understand what cost and profit meant so that we were able to work out how much we would be able to sell our product for. Next, we had to draw up a business plan and think about who our competitors were going to be, how much money we would need to start our business, how long it would take us, what help we might need and how much profit we would make based on different pricings.
In the afternoon, we had to present our business plan to Mrs Holliman and Miss Fiddler and ask them for £80 to start our business. We promised them they could have 8 magnets (1 for every £10 we borrowed) as a thank you for lending us the money and we assured them our business would do well enough to give them back all of their money. We managed to persuade them to lend us all £80!
On Tuesday, we conducted market research to find out what types of magnets our customers would want to buy. We found out that magnets with emojis on them were the most popular! We decided to base our production and price of product on the findings of our research.
On Wednesday, we thought more about how genetic disorders affect people’s lives. We found out all about a boy called Tamilore who has sickle cell anaemia. The children at his school are often unkind, telling him that they don’t believe him and laughing at him. We wrote letters to the children at his school to tell them all about his condition and how it makes him feel.
On Thursday, we began assembling our product. We had to make sure the quality of our product was good enough to sell so we had some children who were in charge of quality control. We really enjoyed working as a team!
On Friday, we went on a Wildlife Walk, to explore the animals in our locality to help us write our non – chronological reports. We really enjoyed finding out all about bat boxes, hedgerows, owl posts, ant hills and much more!
On Friday afternoon, anticipation and excitement grew as the time got nearer for us to look at the other year group’s stalls. We were eager to spend our money and quickly made our way to the hall to buy pencil toppers, magnets, pipe-cleaner pets, muffins and flapjacks. We had a fabulous time!
Year 4 made a total of £120.87 in profit for Jeans for Genes day from our magnet sales!