A team of talented young entrepreneurs from Tavistock College are through to the final of Peter Jones CBE’s national enterprise competition Tycoon in Schools 2015.
Comprised of seven key stage five pupils, Tyre Fires of Tavistock will now attend a special ceremony at Buckingham Palace on March 14th, where the overall winners will be crowned by Mr Jones and HRH The Duke of York.
The group impressed selling a range of stylish fire pits made from recycled wheel rims.
Team member Phoebe Sanders, 16, said: It feels absolutely fantastic to see all the hard work and dedication paying off. As a team we are ecstatic and cannot wait for the ceremony at Buckingham Palace!
The ambitious sixth formers sourced the rims from a respected local scrap yard, negotiating a reduced price for the raw materials needed for production.
They would then weld two rims together and cut a whole for the door using an angle grinder, before carrying out scrupulous quality checks.
Having developed the idea during a “blue-sky” thinking session, the pupils marketed their products on social media and sold them at various local events.
The team made an impressive £1,327 profit during the trading phase.
Phoebe added: Currently we are discussing within our team the plans for the rest of the year but hope to continue trading as a sustainable business.
Sarah Holt, Head of Humanities and Business Studies teacher commented how incredibly proud Tavistock College is of the team’s achievements, especially their passion for their business and determination to succeed.
Tycoon in Schools challenges youngsters to set up their own real-life businesses using a loan of up to £1000 provided by the Peter Jones Foundation. They then raise as much profit as possible during a seven-week trading period.
Once trading is over, teams submit detailed evaluation reports to Mr Jones, who picks the winners from each key stage category as well as one overall champion.
As well as Tycoon in Schools, the Peter Jones Foundation runs the Peter Jones Enterprise Academy, which delivers courses in enterprise and entrepreneurship at colleges across the country.