Plan Your Own Enterprise Competition
As a part of their course work, Business Studies 3 students undertake a Feasibility Study of a business idea of their own. Students are required to incorporate the following aspects into their business plan: business name, prime function, location, legal structure, staffing requirements, marketing plan, pricing, financial plan (which includes set up/start-up costs, how they are to be funded, a sales forecast and a 12 month cash budget) as well as the future prospects of their enterprise.
Plans were entered in the Business Educators Australasia Plan Your Own Enterprise Competition in two divisions: Division 1 is for individual entries and Division 2 is for group entries. Six of our students were successful in being short-listed as finalists.
Division 1
- Abbey Calvert (Year 11) from The Fahan School developed a plan for Total Boat Care, offering cleaning, servicing and maintenance for clients’ boats so they have zero stress when coming home from a trip, feel confident about going away and don’t have to worry about cleaning their boat before going back to work.
- Lily Fisher (Year 11) from St Michael’s Collegiate School developed a plan for Freycinet Bike Hire, a bike rental service for tourists and locals at Tasmania’s most popular holiday destination. It is an untapped market on the Peninsula which will encourage tourists to explore the coastline via multi-use bike paths, off-road tracks and the town’s streets.
Division 2
- Heather Russell (Year 12) and Alexandra Wilbur (Year 12) from St Michael’s Collegiate School developed a plan for ethically, providing customers with customisable, ethically made clothing. The business will make responsible manufacturing decisions and make a difference to the lives of people working in the clothing industry in less developed countries.
- Hugo Hemmings and Ethan Medwin (both Year 11) developed a plan for Burr Parking, a car park sharing app which will allow people to rent out their car parks to generate income from their unused asset. It will help provide a solution to the parking problem that Hobart is facing by creating more parking space out of car parks that already exist.
The State presentation ceremony was held Wednesday 18 September 2019 and we congratulate Lily Fisher who won Division 1 and Hugo Hemmings and Ethan Medwin who won Division 2. Their plans will now be judged at the National level and we wish them well in the National judging!
Ms Jodie Schafferius
Teacher