How the Fiver Challenge works
Pupils will use £5 pledges to get their business ideas off the ground during the four weeks of the challenge, aiming to make as much profit as they can. Here’s how…
Four Week Programme Plan
1 - here's a fiver!
Pupils will work together to decide what product or service they’ll invest their fivers in
2 - getting started
Teams will need to source materials or products, prepare sales pitches, and plan selling events
3 - keep it going
In the third week of the Challenge pupils will need to prepare and promote their selling event
4 - payback and keep the profits
At the end of the Challenge pupils will repay their £5 pledges plus the 50p legacy contribution
Fiver Weekly Competitions
At the end of each week pupils will have the opportunity to enter the Challenge competitions:
1 - Logo Design
We'll be looking for logos that create impact and communicate to customers what the product or service is
2 - Sales Pitch
Imagine that you only had 60 seconds to sell your product or service, what would you say?
3 - Marketing
Time to make the product or service shine with innovative designs for marketing and advertising materials
4 - Pop-Up Shop
It's all about the customer; how to attract people to the pop-up shop and display the product or service
Entering a Competition
Once the Challenge starts all competitions will be open for submissions, so entries can be uploaded whenever they are ready.
Each entry will need to be submitted in a certain file format – full details of file formats, upload instructions and judging criteria will be available once you are registered for the Challenge.
National Fiver Competition
The National Fiver Challenge Competition runs at the end of the four week programme.
There are four different awards:
- Most Profitable Business Idea
- Best Group
- Most Inspiring Individual
- Best Community Engagement
The Judges will be looking for evidence of innovation, creativity and problem solving within all awards.
The competition attempts to balance a view of achievements in the Challenge, along with stories of team and personal development.