Kust

om
Keyr
i ngs

Student Profile 1
Name

Gavin Walsh

General description of Transition year student in

student
Chanel
Interests / Hobbies
Personal
skills/qualifications

Sports(Football)
I am fairly good with
computers and I am good
with business.

Student Profile 2
Name

Shane Douglas

General description of Transition year student in

student
Chanel
Interests / Hobbies

Sports (football, golf),

business, companies

Personal
skills/qualifications

I am quite good with

computers, I know a
decent bit about business.
I am a good salesman.

Brief Business
Description
What product/service I offer:
Keyrings with football and other sports
designs.
Business name: Kustom Keyrings
Business Mission: To be a successful minicompany and hopefully grow bigger in the
future.
How I got my idea: We got our idea from
our love of sport and we noticed the need of
keyrings in our school.

Market Research
The market research I carried out was:
1. Making a prototype Dragons Den
2.Keyring prices
3.Different images to use
4.Asked students if they needed keyrings

Results from Market Research

From our market research we found out a
suitable price to sell our key rings(1-2)
and a suitable target audience(first years)

My M
arke
Strat
ting
egy

will c
orres
work
pond
book
with
page
87 o
f

your

Price: 1-2

Product: Key rings with sports images.

This

Place: School trade fair

Promotion: Advertisement Poster
People: First year students

Competition
Competitor

Price

Location

Unique
Feature

Euro giant

2.50

Northside

Different
images

Easons

2.50

Pavillions

Packaging

My Competitive Advantage is that we are

selling directly to first years

SCOT Analysis
Strengths

Challenges

Easy to make
To sell for the maximum
Materials are cheap to buy price(2)

Opportunities

Threats

We are the only people

There are no threats
selling key rings so we have
control the market.

Gross Profit from One Unit

What is your unit of sale?
Selling Price of one unit of
sale
Cost of producing one unit
of sale
Gross Profit per one unit of
sale

2
20c
1.80

Fixed Costs per month

Utilities

Salaries

Advertising

Insurance

Loan
Repayment

15

Rent

TOTAL

Break Even Units

What do you need to sell in one month to cover
your basic costs?
Fixed Costs Gross profit per unit = Break Even
Units

18 1.80

= 10 Key rings

Mon
thly U
Sale
nit
s

Actu
al

Income and Expenditure

Month 1
Month 2
Month 3
Income
60
sales

= Total Income(A)

This corresponds to page 106 Of your NFTE workbook

Month 4

Month 5

Month 6

Total

6
0

60

6
0

Rent

Loan

15

1
5

Expenditure

Profit & Loss Statement

Total income for the year
Cost of Sales
Gross profit
Fixed costs

60
15

45
3

Profit before charitable donation

Charitable donation
Net profit

42

What I learned from the NFTE

programme
How to start up a business
How to run a business
We learned how to work as
a team
How to manage money

Business Goals
To provide a product and make a profit
Educational Goals
To learn how to set up and run a business

Personal Goals
To create a successful business