School Enterprise Challenge Business Idea Template s1

MOUNT ABU PUBLIC SCHOOL

ANNUAL REPORT An update on our business this year

Written by

VINITA NANDA

CREATED AS PART OF THE SCHOOL ENTERPRISE CHALLENGE AWARDS PROGRAMME – SILVER LEVEL

Section A: Executive Summary

Business Name HERBS N CURES Business Activity Herbal Gifts for Life Main product / service Herbs Our school business social media (Facebook https://www.facebook.com/MapsHerbsAndCure/ page, blog, Twitter account etc.) Number of students involved in business implementation activities (including writing Boys 43 Girls 44 Total 87 this Annual Report) Number of students in whole school Boys : 1134 Girls : 1057 Total : 2191 Number of parents involved in our school 7 business Financial Summary Estimated (figures copied from Actual Business Plan) Our local Our local US Dollars ($) currency( Rs. US Dollars ($) currency ( Rs. ) ) Period of time budgeted for& actually 4 Months covered: 4 Months Total Income: 42450 653 46250 711

1 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] Total Direct Costs: 20030 313 14675 228 Gross Profit: 22420 344 31575 486 Total Indirect Costs: 5400 84 5150 79 17020 261 Net Profit: 26425 406 Section B:Running Our Business 1. Here is a summary of what we did to run our business (including activities carried out to launch the business, if we started a different one this year): : We worked as a team. We followed the hierarchy structure that was made in the planning stage and conducted meetings regularly to be in sync with each other The initial step was to gather funds and collect the raw material to continue with the production. We ploughd back and borrowed from the school finance department to get the funds. Each team wrote up their requirement of the material needed. The team members from each department segregated the work among themselves and created micro teams. The micro research team explored the market to get the lowest rate for the raw material.They also searched videos and met experts to ensure that herbal chocolates and candies are prepared to perfection. . Each department then forwarded their financial requirement to Finance department to procure the material. The departments met fortnightly to discuss their operations and gave their inputs . Monthly meetings by the Business Management Committee a held to know the status of progress in terms of raw material , human resource and financial implication Once all the material was ready, each team reviewed their product, noted the feedback, improved accordingly and made it ready for final sale. The target customers –parents and people in the vicinity and even got great opportunities to go beyond. We sold our products at the dispersal time when the parents came to pick up their kids.We even booked a stall at Diwali Fair and sold our products. The products were sold not only at PTMs, special stalls were installed on diversified events where the people visited the school premise and gave a boost to our business. The Interschool event “Expressions” held in the school also gave the grand exposure to our business as we had students and escorting teachers from 30 schools from Delhi. We also sold our products at a carnival organized by our Buddy School We promoted our business by sending SMSes to the parents and by mentioning in the school newsletter We opted for diverse options to promote our business. We distributed pamphlets to visitors to the school and people in the vicinity. We used digital mediumand linked our facebook pageto provide more coverage to our business and to ensure that the customers’ queries are sorted out at one single click with the school’s website to get maximum coverage. Getting connected with School Enterprise Challenge Facebook page by uploading our entries provided our business lot of exposure Promotional event clubbed with our interschool events gave the maximum coverage to us. We even got spotlight by word of mouth and goodwill .We were filled with pride when people told us that we have given them an option of new gifting ideas. Our school is working relentlessly to spread the awreness about UN Sustainable Development Goals and we linked our business with UNSDGs Good Health and Well Being and Life on Land

2 2. Here is a description of the different departments we worked in and how often we all rotated roles:

No business can be run by a single person. The success of our business Herbs N cures can only be given to the entire team who worked with full devotion and dedication. As we were in the expansion phase and have included more items so more members were added to the team. The teams structure is as per the given hierarchy chart.

The tasks among the team members were divided and reviewed in a meeting held fortnightly on first and third Saturday by the team Head as per the requirement and the stage of the business. The team meetings with the faculty incharges were held on first Tuesday of the month.The minutes of the meeting were forwarded to the Principal who provided her valuable inputs and also provided guidance. When we were in the production stage and the finance , sales and marketing team didn’t have much of the tasks they helped the Gardening team and the creative team in nurturing the herbs and making of the products.Also, when the products were made and saplings were ready for the sale , the Gardening and Creative Team helped the Packaging and Sales Team. Though the teams were divided into groups with leaders but the business was seen as one prime goal that should be benefited. The division certainly helped achieving the targets at each stage.The team leaders discussed their issues,if they had any among themselves to take assistance of other teams during the scheduled meeting days.

Section C: Management & Use of Profits 2. a)Here is an explanation of how we formed our Business Management Committee:

Business Management Committee(BMC) included the Lead Teacher, a parent and the Business Head and the Team Head The BMC provided the necessary planning and control to ensure success. They monitored and reported the quantity or quality or finance issues and shared best practices through their experience.They helped to prioritize the actions and resources for the betterment of the business. The roles and responsibilities of the committee members were well defined .The review meeting being scheduled on first Tuesday of each month. It also identified various structures and determined the best structure.They understood the challenges ,issues, concerns and responsibilities in the business. They provided a vision to the business and ensured its accomplishment. It fostered better Communication.We also learnt to take the ownership and responsibility of the assigned task.

3 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] b)These are the members of our Business Management Committee:

Name Status (teacher/student/parent etc.) Vinita Nanda Teacher Shivani Ahluwalia (Parent) KashishGumber Student (Business Head) ChhaviPunani Student (Head – Gardening Team) Lakhay Jindal Student ( Head – Creative Team) Bharti Rathi Student (Head – Finance Team) Hardik Jindal Student (Head – Sales and Marketing Team) Gunjan Kant Student (Head – Packaging Team) c) And this is a record of the meetings our Business Management Committee held:

Date Number of Main subject(s) discussed Signed off by Principal? attendees (Yes/No) 2.05 2017 7 Review of Business Plan Yes 6.06.2017 7 Making of Products Yes 4.07.2017 7 Places where products to be sold Yes 1.08.2017 7 Customer feedback and review of Yes products 5.09.2017 7 Sale at Ex Buddy School Yes 3.10.2017 7 Financial Review Yes 7.11.2017 7 Yes Discussion on Final Report

3. Here is anexplanation of what we decided to spend our profits on andhow we came to that decision:

Ours is a business that primarily focusses on the well being of the people.The chief objective is to make people accept the herbal and naturopathy treatment.Over the past two years we have diversified into many other products and have generated the profits. We intend to plough back the 35 percent profit generated from our business for its expansion and accomplish our vision of making Herbs N Cures as one stop destination for all the Herbal Needs. The profit will be used for replacing the obsolete equipment , for marketing and advertisement .We will also keep 20 percent as a reserve to meet future financial requirement .

The 45 percent of the profit will be used for promoting the community welfare. Earlier we have set up health camps and called yoga experts to facilitate the free health checkups for all staff, students and community members and help them practice yoga exercises to be fit and healthy. We will continue with this legacy of setting up Health Camps in the school premises and promoting yoga. We will also donate a part of (20 percent of 45%)of our profit for setting up a Porta Washroom in the slum area and contribute our bit to prevent them from the diseases that spread from open defecation.

We, the Business Management Committee, confirm that we agreed democratically how the profits would

4 be spent.Signed by Business Management Committee:

Section D: Achievements, Challenges and Solutions 4. These are the 3 most important things we learnedand how these learnings are helping us outside of the business:

1. There is a solution to every problem- The biggest learning that all the Herbs N Cures members learnt is that wnehever a challenge comes we should explore more and more , think over the situations and we will certainly find the solution.For example when we were thinking that our spalings are getting dried we found a place to keep them safely and also figured out that providing the cutomers with an opportunity to place orders in advance helped us save many saplings from drying.Outside the business also in our studies , with our peers and anywhere whenever we are stuck up , we always think and think to find the the solution and have learnt to never give up.

2. Honest Efforts are always rewarded- Who could have thought of what started as a small enterprise for a contest turned out to be a big business and giving us confidence to run a business.We sincerely thank School Enterprise challenge to make us believe that sincere and honest efforts can help us reach the milestones.When we look at the financial statemnets and at our Herbal Garden from a small corner to a big expanse , we feel delighted and reaffirmed that honest efforts pay sincere rewards.Outside the business , we have always tried to give our 100 percent to the task and not take shortcuts that might give temporary gain but can prove to be fatal in long run.

3 . Planning is extremely important: The Team was easiliy able to manage its time welll because we had done our planning well in advance covering all the area.Though there were certain deviations but most of the things fell in place because of proper planning.Outside business, in our curricular and co- curricular activities, we have realized that planning the topics to be covered , practice sessions to be taken etc show a positive impact on our results and less wastage of time.

5. Here is a quote from each head of department explaining the biggest challenge he/she faced when planning/setting up/running our business and the solution(s) we found to overcome them:

Department Name of student head Main challenge faced Solution(s) (quote) of department (quote) ChhaviPunani The herbs that grow at We took the orders and Gardening “ “ a particular time and noted down and called were demanded by the them back once they were customers had to be sent available” back due to their non – availability .” Creative Lakhay Jindal “It was a task to make “When appropriate 5 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] everyone convinced with reasoning was given to a single decision.” the members for a choice they felt convinced.Sometimes ,some members were talked to separately to convince them about the final decision.” Sales and Hardik Jindal Some customers were We answered the Marketing “ “ not polite and tested our queries with smile, even patience.” made them talk with the Lead Teacher to assure them of quality.” Finance Bharti Rathi “Regular record keeping “ I always cross checked and balancing the the cash inflow calculated amount received with by the team members to the products sold.” avoid discrepancy.” Gunjan Kant “We really struggled to “The market search came Packaging pack the candies , to our rescue and we chocolates ,spaling and finally packed our items penstand with the with the net.” colourful sheet.”

Section E: Sustainability & Business Development 6. Our business is sustainable and has a positive impact on the environment and our community because: o It deals with herbs that has no side effect and and helps to Our business promoted the use of natural products among the people. As these products have no side effects and are nature friendly.We have tried it ourselves and they are really effective in curing minor ailments like stomach ache , acnes etc.

o It has developed our entrepreneurial skills as we became confident and also enhanced our communication skills.

o We as students have gained real life experience of how a business runs and how there are people/customers with varied perspectives.

o We have developed an open mindedness and became responsible for achieving our goals

o The project also provided people with the innovative gifting option of Sapling.The concept of Plant a Sapling on your birthday became trendy with the students : The products made by us are environment friendly since they contain no harmful chemicals. The herbs grown in the school herbal garden used the rain water harvester available in the school. It catered to the need of water required for herbal plants .The school has vermi compost pit that helped in better growth of herbs .We encouraged plantation of more and more sapling by propagating the concept of “Plant a sapling “son your birthdays and “Gift a Sapling—Be Creative, Be innovative”.It would not be an exaggeration to call our business as the planet saviours and we team members were its crusaders.

6 7. Our school business has definite potential to carry on running sustainably for at least the next year.Here is our clear and realistic action plan for how we will continue to run it next year: We will introduce this project to the new set of students in the gardening club so that they can take it ahead and let the business flourish. We will become the mentors for new students and make them know about the enterprise. Thereby instilling in them the skills of entrepreneurship .We also intend introduce the basics of gardening to our students at Pre Primary level and then move with the stepwise progress. We will also contact experts to give more training on the herbs and their curative properties. We have also decided to take a step further and involve parents in our project, and having a meeting every fortnightly on Saturdays. We have a strong desire to expand our base through online selling of herbs and will be contacting the courier services to help us in delivering the products.We will be collaborating with nearby malls and seek permission to set up our stalls on special occasions when huge crowd is expected.

Appendix Section: Students in Action Please find in this space some evidence that clearly shows our involvement as students in the setting up, running and management of our business. You will find 3-5 photos (or if that’s not possible, we will share quotes from participating students).

7 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected]

FINANCIAL REPORTING

1. Income (actual)

NAME OF PRODUCT QUANTITY SALES PRICE SALES INCOME OR SERVICE (Quantity x Sales Price) Herbal saplings 200 35 7000

Herbal Candies 200pouches(5 candies 20 4000 each) Herbal Chocolate 200pouches(5 candies 30 6000 each) Herbal Tea bag 200pouches(3 candies 15 3000 each) Wall Hangings 200 30 6000

Photo Frame 200 30 6000

Book Mark 200 15 3000

Pen Stand 150 75 11250 TOTAL SALES INCOME 46250

2. Direct Costs (actual)

NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS (Quantity x Cost per Item) Cocoa Butter 4Kg 350 1400

8 Cocoa Powder 2kg 700 1400

Moulds 5 192 960

Tea Leaves 5Kg 300 1500

Filter Paper 500 1000

Fevicol 2Kg 200 40

Decorative 65 PAckets 95 6175 Items(Assorted Packet) Card Board 20 sheets 10 200

Markers and Sketch 10 200 2000 Pens(Packet) TOTAL DIRECT COSTS 14675

3. Gross Profit (actual) Our Local Currency

TOTAL SALES INCOME 46250

TOTAL DIRECT COSTS 14675

GROSS PROFIT 31575 (Total Sales Income – Total Direct Costs)

4. Indirect Costs (actual)

NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS (Quantity x Cost per Item) 1200 Transportation Stationery 500

Pamphlets 500 0.50 250

Decoration of Selfie 200 zones Net 20 per metre 5 1000

Baskets 100 20 2000

TOTAL INDIRECT COSTS 5150

5.Net Profit (actual)

Our Local Currency

TOTAL INDIRECT COSTS 5150

NET PROFIT 26425 (Gross Profit – Total Indirect Costs)

This is how we raised the additional money needed to finance our business: Though we had intended to use our Prize money to finance our business but the same could not be received in time so we borrowed the funds from the School Management who were quite convinced the way our business was proceeding and also the assuring mails from School Enterprise Challenge helped us get the funds easily.

Our Local Currency used : Rupees

Exchange rate to US Dollars: Rupees 65

5. Here are two photos showing how we kept our financial records (e.g. purchase ledger, sales ledger, cash flow statement, cash book).

10 STUDENTS’ IMPROVEMENT ON SKILLS

It is important for you, your teacher and for us to reflect on how the Awards Programme has helped you develop your skills. Please ask your teacher to fill in the following sections. ONLY SCHOOLS THAT COMPLETE THIS SECTION WILL BE ELIGIBLE FOR AN AWARD. 1. After going through the activities to implement your school business do you feel your students...

Stayed Please choose ONE option (‘Improved’, ‘Stayed the same’ or ‘Did not improve’) for each row Did not Impro the below…. improve ved same a. Are more confident speaking in front of other people (e.g. during market research) X X Yes b. Work better with people with different opinions to theirs X X Yes c. Have improvedtheir team working ability, e.g. if other team members were struggling X X Yes they offered support to them d. Are more confident analysing information X X Yes e. Are more able to use their ideas to organise and plan work in order to reach their goals X X Yes f. Are more able to look at different ways to solve a problem and are more confident in X X Yes selecting a solution g. Do you feel your students have gained the skills and knowledge to start and run a X X Yes successful business independently?

2. Can you tell us the biggest impact the program has had on a specific student, their family or even yourself?

Though the Program preparing us students as future entrepreneurs had impacted each and every individual some became more confident, some learnt analytical skills, some are better planners but all of us are surely future enterprenuers.We all have decided to team up together and set up a business using the skills we have gained. So the biggest impact we would say is that it has provided a vision to us youngsters for the future

3. Through the school business implementation process, which skills do you think students improved/gainedthe most (max 3): Leadership YE Communication Aspiration YES S Confidence Decision making Other – Please specify: Problem solving Team work YES

11 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] 4. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option. No X Yes, in Science YES Yes, in Maths YE Yes, in Business Studies YES S Yes, in Writing & Reading YE Yes, Other – Please specify: S

5. Have the students used the skills learned through the school business implementation outside school? Yes If you answer ‘Yes’, please specify (if possible): No Yes the skills acquired by us are really helping us.Many of us have decided to team up after completing our studies to set up a business of our own.It has provided us a vision and goal to soar greater heights in life. HOW – For example, Have they established any business activities?: With WHOM – For example, with their family, other students, etc.:

CONGRATULATIONS on writing your Annual Report! You have completed Step 3 and the School Enterprise Challenge programme! Submit NOW! Remember to submit your Annual Report to the School Enterprise Challenge Awards Programme by logging in to your account at: www.schoolenterprisechallenge.org/login in order to be eligible to receive your Silver Award.