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ROYAL DIADEM HIGH SCHOOL, NIGERIA
BUSINESS IDEA1. Adebayo, Kezia 2. Olakanla Joshua
3. Adedeji IyanuOluwa4. Odeleye Israel
5. Oyeyemi Jomiloju6. Oke IyanuOluwa
Written byDR. HANNAH AJAYI
CREATED AS PART OF THE SCHOOL ENTERPRISE CHALLENGE AWARDS PROGRAMME – SILVER LEVEL
Section A: Our Business Details
Business NameAfrican Black Soap Business
Business ActivityMaking of African Black Soap
No. of students involved in business idea activities (including writing this Business Idea)
Boys- 06 Girls- 08 Total14
Section B: Our School
1. To help you understand our school business better, we will briefly describe our school (e.g. age of the students; location; environment).
Royal Diadem High School is a co-educational setting. It is in fourth year. It has a primary section which started some years before the High school. The students are between the age of 11years to 18years. The school is located at a peri- urban area of Ibadan city. The area where it is situated is a fast growing environment comprising people of different socio-economic background. The school is not far away from a neighbouring market where different goods are sold to large populace from different walks of life. The school also has cordial interaction with the parents and community where it is located.
1SILVER Business Idea Template 2017. ©Teach A Man To Fish
Section C: Our School Business Experience
2. Here is a brief description of the school business we ran before/are currently running, including the products/services we sold/are selling. The students have been engaging in liquid wash, which they sell to parents and in the neighbourhood. Currently, they are working on farm, planning to plant vegetables. They intend to sell the produce when it is harvest time.
Section D: Our Resources
3. Considering our school’s physical resources, skills and location, these are the resources available at our school we can use to develop our business:
In our school, we have workshop where we can make the items for the business. We can easily get the materials needed for the business idea such as plantain skin, water. We have other resources such as computers that we can use to create posters and flyers for the advertisement and publicity of the business, internet facilities to project the business further. There are also capable manpower that would help the students where needed and even help in selling the product. The school is not far from areas where some other ingredients for the business can be got. We are so excited to go about the business.
Section E: Brainstorming Business Ideas
4. a) These are the five business ideas we thought of when brainstorming a new idea or a way of diversifying or growing the existing one:1. Liquid wash2. Snacks making3. Black soap making4. Disinfectant making5. Farming
b) The business we chose for our Silver Award is: _____African Black Soap Making.
And these are 3 reasons why we chose this idea:1. We chose to do this because it showcases the cultural heritage of African people that are no longer
taking cognizance of because of westernization or civilization.2. The product is medicinal, having curative effect on the skin by preventing people from being infested
2SILVER Business Idea Template 2017. ©Teach A Man To Fish
with skin rashes , eczema or acne that may disfigure people’s skin.3. The materials for making this product such as plantain skins are may cause environmental pollution
and hazard but they can be recycled to something profitable to people and environment.
5. Our final Business Idea will be sustainable and have a positive impact on the environment and our community because:Some of the items that would have caused environmental pollution would be recycled. People using the product and see the positive effect on it on their skin as against antiseptic soaps that many people react to, would place a high demand on the product.
Section F: Financing our growth and development
6. Here is a description of how we are planning to finance our business, including how we are going to raise the money needed for our school business.
To finance the business, we will take certain percent of money from the money accrue to us from other business that we had engaged in. We would have to also contribute some amount of money buy some of the items needed. We will also seek for donations from our parents to augment the
contribution we are going to make.
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Section G: Appendix Please find in this space our completed Resource Assessment template, our Feasibility Study template and3
photos (when possible) that clearly show our involvement as students in business idea activities.
RESOURCE ASSESSMENT TEMPLATEDoes your school have any natural resources?
YES NO If YES, please give details
Water
Land or farmland
Anything else e.g.beach, palm-trees, orchard
Does your school have any physical resources?
Yes No If YES, please give details
Rubbish that can be recycled
Plantain skins
Machinery or equipment e.g. a paper recycling machine
Bowls, pestles and mortal
Buildings e.g. school hall 250 seater hall to
Electricity or a generator We have both
Internet
Computers
Printer
Anything else e.g. sewing machine, motorbike
Is the location of your school....
Yes No If YES, please give details
Near a big town or city
Near a Tourist Attraction e.g. Safari Park
Museum
Near industry e.g. a textile mill Gas plant
In an area with fertile land
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Anything else e.g. near a market
Are there students in your team with.....?
Yes No If YES, please give details
Arts, Crafts or Tailoring Skills Some of the students are artistic
Computer, Internet or Media skills
The students are computer literate
Farming or Cooking skills We have school farm.
Maths and accounting skills We are being taught these subjects in school.
Sports skills We engage in sporting activities in school.
Music o Music or Dance skillsLanguage or Teaching skills We engage in literary and
debating activities.Anything elseAre there students in your team who know how to....?
Yes No If YES, please give details
Keep good accounting records Write a Business PlanCalculate our Net and Gross Profit Write a Financial Plan
We have been taught to do these in the Accounting classes.
Are there students in your team who feel they are....?
Yes No If YES, please give details
Good at meeting new people (networking)
Good at listening to other people (teamwork)
Good at finding solutions to problems (resilience)
An organized person who always finishes their school work (time management)
Good at talking to new people (communication)
Good at understanding other
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peoples’ problems (empathy)
Undertake Market Research ©Teach A Man To FishPage | 4At the end of the SILVER Business Idea Template, you will see an ‘Appendix’. Copy and paste your completed Resource Assessment into this section to clearly show the involvement of your students in business idea activities. 3.Analysing your Resource AssessmentAfter finishing the resource assessment, it is important to analyse the results. Use the table below to help your students. List your existing School Resources in Column A. Then, for each resource, get students to answer the questions in Columns B and C. Column AList of School Resources
Column BHave we already usedthis resource in our business(currently or in the past)? (Y/N)
Column CIf NO, could we use this resource to start or develop our business? (Y/N)
School hall YesPipe borne water No. We are going to use
it as part of the business.Electricity YesLand YesComputer YesInternet Yes
TEMPLATE A: PRODUCT FEASIBILITY STUDY
If you are going to sell a product YES NO If NO, how can you overcome it?
1. Would most consumers consider the product attractive or useful?
2. Is the product easy to store and transport?
3. Does the product have a long lifespan (i.e. it won’t go off, wear out or go out of fashion)?
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4. Is the product safe for customers to use or consume?
5. Is the product easy to make 6. Do you have access to the necessary materials?
7. Will the product be in demand all Year round?
8. Is the product easily packaged and transportable?
9. Will you be able to sell this product at a price that will cover the costs of making it and still generate a profit?
10. Does this product have a low start-up cost?
11. Does making/selling the product have educational value for the students?
12. Overall -does this seem like a good business idea?
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Picture 1: The students in the process of generating their business idea.
Picture 2: One of the students interacting with community people during their feasibility study.
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Picture 3: The students under plantain farm within the school premises.
CONGRATULATIONS on coming up with a Business Idea! Submit NOW!
Remember to submit your completed business idea to the School Enterprise Challenge Awards Programme by logging in to your account at: www.schoolenterprisechallenge.org/login
9SILVER Business Idea Template 2017. ©Teach A Man To Fish
