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APOLLO

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									                           APOLLO
                A Young Enterprise Company
  Company Report and Interim Accounts 2012
      Young Enterprise Milton Keynes Board
                            16/03/2012




St Paul’s Catholic School, Phoenix Drive, Leadenhall, Milton Keynes. MK5 6EN
             Phone: 01908 669735 E-mail: apollo@st-pauls.org.uk
Executive Summary

Company name

The name “APOLLO” was chosen because he was Greek and Roman god of music, healing,
light, prophecy and enlightenment. It was also the name of the US space program that
landed a man on the moon. The moon was not enough for us we wanted to aim for the stars.



Mission Statement

APOLLO is an interesting and creative name it was a good way to introduce the product into
the business community. We thought about different ways of raising initial capital by selling
shares and selling breakfast food e.g. (croissants, danish pastries and cold and hot drinks) in
school to our sixth form colleagues during January as it was a cold season.



Product Statement

APOLLO is a company that produces personalized bracelets called ‘jewel-a-bead’.

Each design is very different however we try to incorporate vibrant colors and similar motifs.

Each design is very different because they are customized by the customer. The customer
then chooses what the bracelet should say unless the customer wishes to have no letters on
the bracelet. Also the choice of colour or colours are down to the customer to which colour
they prefer we offer a range of colours in different shades bright and light for example baby
pink and black and dark green.
Company Performance

 As a team we made the decision earlier to raise funds by carrying out breakfast sales and
other activities which could raise us money. Each team member also purchased £5 worth of
shares totaling up to £70.

At first sales were very good, initially the company sold products such croissants, cookies
danish pastries and also apple and orange juice and hot chocolate. These sales took in
place in the morning's as we saw it was a great opportunity as most high school children
tend to not eat breakfast in the morning especially as it is the most important meal of the
day. The sales then blossomed and we then raised £70 as students and teachers started to
show a lot of interest into our breakfast sales. The school also commissioned the team to
create a design for the school’s first student breakfast fund raising sale. To promote our
breakfast sales we created posters and we sent notices to every year group within the
school.

It took us a long time to get to grips with developing our main product. Weeks seemed to go
by with little or no real progress being made. All of the things we had talked about and
agreed to do at meetings were not being done and it became frustrating. Finally we realised
that if we were to become a successful business we had to make ourselves successful and
that no one else was going to do it for us.

We had generated sufficient capital to start selling, purchase stock and begin to
manufacture; it was time to get serious and move on to the next level. After a faltering start
we quickly became organised, stock was sorted and everyone was trained to make the
bracelets.

At first we were inundated with sales and struggled to keep up with the demand so had to
look at ways of becoming more efficient. Gradually we sorted things out and everyone
started to get stuck in especially when the demand required them to.
Company Personnel

Charlotte Cox        Managing Director

Caitlin O’Connell    Finance Director

Cynthia Nyamweda     Company Secretary

Geena Whiteman       Human Resources

Isabelle Collins     Operations Director

Ryan Smith           IT Department

Dan Whiteman         Marketing Director

Orama Chiromo        Sales Director



Link Teacher

Ian Bark

Business Advisors

David Hawkins

Trudy King

Natasha Mahmoudian
Communications

The APOLLO team realized early on that good communication was the key to an effective
team. To achieve a good communication system, our HR department made sure everyone
had each other's e-mail addresses. These e-mails include discussions about the products
we were going to sell and marketing techniques we should set in place. This communication
system worked up to a point for regular emails such as weekly minutes and agendas, but not
everyone checked their e-mails regularly enough for ad-hoc communication, so we had to
think of another way to communicate. We are all now much better at checking e-mail and
keeping each other informed but there is always room for improvement because we now
realise how important good communication is to the success of a business.



Methods of Marketing and Production

Once our product had been selected we began to identify our target market. We considered
the different age groups available in our community and came to the conclusion that young
people, such as students would be the most popular market we could reach easily given that
we are students ourselves. We put together a market survey questionnaire containing
possible designs and prices and sent this to each of the form groups within the school and
asked them to vote on the design and the price that we found was more suitable.

Once we had received the answers from the questionnaire, we began researching the costs
of the beads and letters. In order to purchase the beads and letters, we used the money we
made from the fund raising of the breakfast sales to purchase the materials we needed. We
did not manage to order the beads and letters until the end of the year, so we missed the
Christmas market as, they arrived in January.

To promote our company, the IT department designed and created eye-catching, large and
colorful posters with an image of the product we will be selling. We also created leaflets to
distribute at trade fairs and business breakfasts that contained all our products and contact
details.

We began by selling our product at school; we designed a leaflet that was eye catching in
order to attract attention. We also spoke in assemblies, reminding students about our
product and where and when it would be available to purchase.

When deciding on the price of our product, we researched carefully on the internet to find out
the price range on personalized bracelets and feedback on by the students. We initially
decided on £2:00 for 5 letters and an extra 10p for 5 letters plus. Once we started selling
them at school, many students began t purchase our bracelets and gave good feedback on
the price. Teachers also began to purchase them for their children family member and
themselves etc. In order to take the orders for our bracelets we made order form which
included contact details and where u can hand them in to purchase one of our bracelets.
Order form shown below:
Taking the APOLLO brand forward

We hoped to enlarge our range of products to include personalized necklaces and make it
into a collection where you could purchase both as a gift. This was going to be our product
we were going to promote for Mother’s Day as a special. This did not happen as we still had
over 30 bracelet orders for customers whom we had to make and turn the order round in a
maximum of 4 days as that is our policy.

Problems Encountered During the Year and Solutions

When we went to our first breakfast meeting in the sixth form area of our school we stuck
posters round and we verbally promoted our sale and where it was going to take place and
what time. We strategically placed our posters in the rooms where everyone had to walk
past.

The problem we had with our breakfast sales to raise our funds was that the food finished
very quickly as we did not think we would have much customers. We noticed that next time
we have a breakfast sale we should have more stock to sell to our customers as it showed
that people wanted to purchase more.

We also had the issue of team members not doing their jobs on time and this impacted on
other member’s tasks such as delivery customer’s purchases. However, once everyone had
settled into their role, jobs were completed and others offered to take over the job if the
original member was struggling with other commitments. People started working as one
team rather than individuals.

One of the biggest problems we have faced has been in setting up the HSBC bank account.
So far we have visited the Milton Keynes branch in Midsummer Place 7 times and have yet
to set up the account. To be fair the first time we visited we had forgotten to take one of the
forms with us so had to go back. When we went back there were no business advisors
available and were told we would be contacted to make an appointment. Unfortunately, it is
difficult to contact a pupil when they are in lessons so we have had endless missed calls and
no one available when we call back. So we resorted to visiting to try to make an appointment
to no avail. When we finally managed to get an appointment our Finance Director had
resigned and the bank would not accept the form with his name crossed out and demanded
we start again. At some point in the near future it hoped that we will receive a new mandate
form and we can begin the whole process again.
Company Achievement’s

Our first achievement was to purchase the materials we needed for our first batch of
bracelets without carrying out any activities that were not related to the team products.

As a company we were also pleased with the breakfast sales we had in school to raise funds
for our bracelets. We were very happy with the success in sales as we made almost £80.
We also had a various number of students asking us when the next one was going to be as
it was a success.

Although we did not win the Best Trade Stand award that day, we were able to improve our
sales techniques and put our company out there in the community. At the Trade Fair in
Middleton Hall we had a lot of good compliments from customers and other schools saying
that was a good idea as young teens love wearing bracelets.



Individual Achievements

Charlotte Cox - Managing Director

As Managing Director my main role within the team was to run the meetings the team had.
Throughout the duration of the whole young enterprise I had to ensure all colleagues were a
wear of their job roles and what needed to be done in order to achieve their tasks before the
next meetings. Making sure everyone was on top of their tasks would ensure that the
company ran smoothly and tasks where being fulfilled, although at times people lacked
motivation. The team would help to motivate others and help each other out when needed.
Throughout I have managed to learn various skills relating to how a business is run, my
confidence increased when talking to others and I have learnt to collaborate with other
members in my team. I have enjoyed being a Managing Director although at times it was
frustrating but our team overcame the minor problems and we got there in the end.

Caitlin O’Connell - Finance Director

As finance director my role within the team was to handle the money side of things. With
orders coming in and out of the business and money spent on sales I had to make sure I
kept track of all accounts. With use of the receipt books and the online young enterprise
accounts I was able to manage the money easier. This role has helped me be more
confident in keeping account of money and managing it, this will be able to help me in
different circumstances in the future.

Cynthia Nyamweda - Company Secretary

My main role within the team was to write out the minutes of the meeting which were held
weekly on a Wednesday afternoon. During the meeting I would write out who attended the
meetings, apologies for members who were not able to attend the meetings and what we did
during the meeting along with what we planned on achieving during the course of our next
meeting the following Wednesday.
Company Development

Apollo started off with a big team of 10 with everyone involved and keen to get on, however
as the sessions went on it became apparent that some team members were not pulling their
weight, were not really committed and some started to talk about leaving our team. It was at
this point we had what was with hindsight our most important meeting at which we
addressed face on the issues that had been building. It was not an easy meeting but by the
end of it we had sorted out who was on board and who was not. To their credit the ones
who left decided to tell others about our company and we were able to very quickly welcome
new people to our team.

We then had a strong team of 8 including Charlotte Cox, Caitlin O’Connell, Cynthia
Nyamweda, Georgina Whiteman, Daniel Whiteman, Ryan smith, Orama Chiromo and
Isabelle Collins, this is when our business started coming together.

We had plenty of ideas for products we could produce and after much debate and research
our team decided to focus on customised bracelets. Our initial target market was our school
and very quickly we were able to establish our brand and generate a lot of interest.Our
bracelets were popular and sold quickly.

The main thing our team struggled with was our production line this is because it took more
than one person to make the product and bracelets were being delivered late. We then had
a meeting to address the issues and were able to resolve them fairly amicably and quickly
enabling the team to once again to pull together and started to make a real progress.

By the time the Middleton Hall Trade Fair came round we were pretty well organised and
knew we had a product with sales potential. Unfortunately the fair was not as successful as it
could have been due to:

      issues with the supply of our raw materials
      leaving the planning of the display to the last minute
      availability of team members on the day

Despite all the setbacks and frustrations APOLLO has turned out to be a great team
especially with the positive support and patience we have had from Ian Bark, Trudy King,
David Hawkins and Natasha Mahmoudian.
Interim Accounts

To follow

								
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