My daughters Guides have been carrying out a “grow your pound” challenge this term to raise money for outings for the pack, here’s how we’ve got on so far.
The idea is that each guide was given £1 to invest in something they could sell on at a profit and then reinvest some of the funds and do the same again and again until at the end of the challenge they would see how much they had made, a great lesson in business and entrepreneurialism.
Rachel’s first idea was to buy card and make and sell Valentines cards to her class, a good idea but with a limited window for sales, next we thought of buying seeds and growing plants but this time the length of time it would take was the problem.
In the end we went for an old favourite – cupcakes and invested our £1 in a packet of Asda’s vanilla flavour sponge mix (I know whatever would Mary Berry say).
It had been agreed the guides could use items they already had at home, so with an egg and some milk for the mix and some butter, icing sugar and food colouring for icing we were off and running and I have to say for a £1 cake mix they made lovely well risen tasty cakes.
Rachel took to her room and made a lovely sign explaining what she was doing and then took to the streets peddling her wares (don’t worry only to close friends and neighbours) and sold out her first 14 cakes within the hour, her brother even insisted on paying over the advertised price of 40p.
Our first two batches,
So step 2 was reinvesting her funds, she decided to spend £1.50on a madeira cake mix from Aldi’s and another 25p on some reduced price sprinkles(just like her mum, loves a bargain.) This one you just added oil and water and again for a packet cake mix we were pleasantly surprised by the results. We used half the packet to make 12 cupcakes (the same mix can also be used for a victoria sponge or fairy cakes).
Batch two was taken to school with the teachers permission and school mates happily handed over their pocket money for a tasty treat, though Rachel did extend credit to her best friend who had forgot her money (she’ll never make a business woman).
Batch 4 was to be a little different as these were to be to taken to a toddler group, we decided Peppa Pig would be a sure fire hit with the little one’s and invest in a Peppa Pig Muddly Puddle cake pack.
This was the poorest cake mix we used, with very little actual mix we only managed to make 10 rather than the promised 12 cakes and they were a little on the small side but still the toddlers weren’t complaining.
Our next victims (em customers) were my workmates and the other half of the Aldi’s madeira cake mix was used, a quick email round the team and all cakes were gone by 10.00am, so 4 batches later, we are now at £21.70 (some people thought they were so good they paid over the asking price) and counting.
Not a bad little return for our pound and it’s been a great way to teach the guides about investing for a return, and also great fun.
Now where’s that Dragon’s Den application form?