Business-in-a-Bag + Training Workshop
Do you dream of having your own business but need experience? Would you like to earn some spending money over the summer? You need a Business in a Bag!
What is it?
Just like it’s name suggests, you get a bag full of items which you can then sell. You will also get a free ticket to our Get Mighty workshop on Sunday 12 May 2019, 10.30-12.30 in central Northampton (venue tbc).
Who is it for?
Young people – 9-16 years old
What will my Business -in-a-Bag sell?
At the event you can choose your items of stock from funky pin badges, friendship bracelets to pencil cases and wash bags (see www.bodlondon.com for an idea of some of the pieces).
The stock will only cost you £25 but will have a value of £75 when you sell it.
We suggest that you could use £25 of your sales money to re-pay who ever might have leant you the initial £25, keep £25 for spending money and then perhaps re-invest £25 on more stock to sell again?
What happens at the workshop?
Led by Young & Mighty founder Henry, you will learn all the ways you can sell your products such as how to display them at summer fetes. There will also be some really fun, creative sessions to make your business really stand out!
Filming and possible TV opportunity
There will be a film crew at the event and photos will also be taken, capturing the day. There might be some further media opportunities resulting in this day – WATCH THIS SPACE!
Is £25 all I have to pay?
Yes. The training is free and we are planning to secure sponsors to fund the event. You will purchase the stock at a wholesale price. This means that you buy the stock at the same price a big shop like John Lewis would. John Lewis will then multiply the price by 2 or 3 and this highest price is what the customer pays.
We have chosen low value products such as badges and plaited bracelets so that the customer price is only £2.50-£5, so it will be easy to sell.
I can’t make the event; can I still join in?
Yes you can but you won’t get the training or the option to choose your stock. You will also miss the potential TV opportunity so it is worth attending.
I don’t have £25, what can I do?
Time to get creative! Are there any clothing or computer games you don’t need anymore and could sell? Can you ask if any friends or family need any odd jobs doing like car washing or raking leaves?
Or, maybe you can find an investor (friend or family member): someone who can lend you the money and you pay them back when you have sold the stock. The best way to give the investor the confidence that they will get their money back is to do a business plan:
It is not as hard as it sounds; just write down when you will aim to start selling (a few days after the event maybe?) and how long it will take you to sell enough items to reach the £25 loan. To give you an idea, the pin badges sell for £3.95 to the customer so you would need to sell 7 to repay the money. Do you know 7 people that would like funky flamingo and sloth pin badges for the summer? I am sure you do!