sweet treats - loreto college, st albans · 2020. 3. 13. · presentation is below expected...

1

My

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Name: Term 3 Class:

My targets for this project are:

1.

2.

3.

Setting up a business

Sweet Treats

2

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3

What does a Loreto learner look like?

Resilience – you don’t give up. You are able to stay on task

and focus on a task even when things get difficult. You under-stand that you can’t do it YET but with hard work and effort you will progress. You are organised and prepared for the lesson.

Initiative– you can use your own skills. You use 3B4Me. You

can ask questions which will help to think of solutions. You can think about what you know which will help. You use the correct tools, including thinking maps, without being told. You can think about how to find out what you don’t already know. You

think about how you’re learning.

Communication skills – you can work well with others as part

of a team. You can encourage others and listen to what they’ve got to say. You can use other people’s good ideas to your ad-vantage. You are able to lead others in an activity and support them.

Creativity– you can use your imagination to come up with ide-

as. You can try out alternatives if one idea fails. You are able to start again and learn from your mistakes. You plan what you want to do and how you will do it. You can change your plans if necessary.

4

Assessing your progress and learning in Computing

How will I be assessed?

Your progress and learning will be assessed using various methods that in-

clude:

Set tasks during the lesson

Homework tasks

Interim assessments

End of topic assessments

How will the teacher feedback on my progress and learning?

Your teacher will feedback on your progress and learning in the following

ways:

Regularly marking your booklet and recording constructive feedback

for you to act upon.

Marking your homework and tracking your effort level or attainment

level.

Effort Grade Effort Grade Descriptors

A All tasks are completed in excellent detail. The student demonstrates excellent knowledge

and understanding. The work is presented to a very high standard.

B All tasks are completed in good detail. The student demonstrates good knowledge and un-

derstanding. The work is presented to a high standard.

C All tasks are completed in satisfactory detail. The student demonstrates satisfactory

knowledge and understanding. The work is presented to a good standard.

D The majority of the tasks are completed in satisfactory to basic detail. The student demon-

strates inconsistent knowledge and understanding. The work is presented to a satisfactory

standard.

E The majority of the tasks have not been completed and the work demonstrates limited

knowledge and understanding. Presentation is below expected standards.

5

Setting up a business - I can statements

The statements below relate to knowledge and understanding of setting up a

business you will develop during this unit of work.

Read each of the statements below and tick the column that best represents

your knowledge and understanding in today’s lesson.

Setting up a business — I can statements

I can define the term enterprise

I can define the term entrepreneur

I can identify qualities needed to be a successful entrepreneur

I can discuss the qualities needed to be a successful entrepreneur

I understand why an entrepreneur may decide to start a business

I can define the term sole trader

I can identify the advantages and disadvantages of being a sole trader

I can define the term partnership


I can explain what a partnership agreement is

I can explain the term unlimited liability

I can define and give examples of start up costs

I can define and give examples of running costs

I can define and give examples of fixed costs

I can define and give examples of variable costs

I can calculate total costs

I can define revenue

I can calculate revenue

I can define profit and loss

I can calculate profit and loss

I understand the importance of monitoring profit and loss in a busi-

ness

6

What is an entrepreneur? - Starter

For your homework you have been asked to research an entrepre-

neur of your choice. You will be asked to discuss the information you

have collected on this page at the start of your next computing les-

son.

Name of entrepreneur:_____________________________________

Name of the business started:________________________________

Where is the business located?:_______________________________

When was the business started?:_____________________________

What does the business offer/sell to customers?_________________

________________________________________________________

Why did this person become an entrepreneur?__________________

________________________________________________________

________________________________________________________

Identify and explain four qualities you think this entrepreneur has:

i._______________________________________________________

________________________________________________________

ii._______________________________________________________

________________________________________________________

iii.______________________________________________________

________________________________________________________

iv._______________________________________________________

________________________________________________________

Date:_____________

7

Business idea—Starter

Maria and Jenny have decided to become partners and set up Sweet

Treats together.

The business idea is to provide customers with cakes for special occa-

sions such as birthdays, weddings and gender reveal parties.

They would like your help in researching the market in the local area

of St Albans. They are interested in the following information:

The range of cakes other local businesses offer to customers

The prices being charged by other local businesses in the area

Research three other cake businesses in the local area and record the

information below for Maria and Jenny:

Name of the business:______________________________________

Range of cakes:____________________________________________

Prices being charged:_______________________________________


Range of cakes:____________________________________________



Range of cakes:____________________________________________


Date:_____________

8

Business costs—Starter

1. Provide a definition for the following key words:

Fixed Costs:_______________________________________________

________________________________________________________

Variable costs:_____________________________________________

________________________________________________________

Total costs:_______________________________________________

________________________________________________________

2. Complete the following formulae:

Total variable cost = __________________ + ____________________

Total cost = __________________ + _______________________

3. Calculate the total cost for the business below:

Business A has a fixed cost of £3000 a month and the variable cost of

one product is £8.

Date:_____________

Products per

month

Fixed Costs Variable Costs Total Cost

0 3000 100 200 1600 300 400 6200

9

Profit and Loss - Starter

1. Provide a definition for the following key words:

Fixed Costs:_______________________________________________

________________________________________________________

Variable costs:_____________________________________________

________________________________________________________

Total costs:_______________________________________________

________________________________________________________

Selling Price:______________________________________________

________________________________________________________

Revenue:_________________________________________________

________________________________________________________

Profit:___________________________________________________

________________________________________________________

Loss:____________________________________________________

________________________________________________________

2. Complete the following formulae:

Total cost = __________________ + _______________________

Revenue = ___________________ x __________________________

Profit/Loss = ___________________ - _________________________

Date:_____________

10

Marketing a business - Starter

Identify the business logos below: Date:_____________

11

Setting up a business

What will we be learning?

In this business project we will be developing our

knowledge and understanding of entrepreneurs and

factors to consider when setting up a business. You will

sit a test to assess your knowledge and understanding

of the topics you have learnt.

By the end of this project:

I will understand several keywords associated with busi-

ness and entrepreneurs.

I will be able to identify characteristics of successful en-

trepreneurs.

I will be able to calculate and explain fixed costs, variable

costs and total costs.

I will be able to calculate and explain profit and loss with-

in a business.

I will be able to understand the importance of marketing

a business.

I will be able to respond positively to feedback about my

work from my teacher or my peers.

12

What is an entrepreneur?

1. The term “enterprise” has two common meanings. Firstly, an en-

terprise is simply another name for _________________. Secondly,

and perhaps more importantly, enterprise describes the actions of

someone who ____________________________________________

________________________________________________________.

2. Define entrepreneur.

________________________________________________________

________________________________________________________

________________________________________________________

3. To be successful an entrepreneur will:

take the ___________________ in trying to ______________ a

business opportunity.

take time to understand and ______________ the __________

involved.

make an ____________________, often of their own money, to

set up the business.

go ahead, despite the risk that the business venture might

________.

Date:_____________

13


4. Working with a partner, identify the entrepreneurs and the busi-

ness they created.

Date:_____________

Entrepreneur

Name of entrepreneur

and their business

Entrepreneur


and their business

Entrepreneur


and their business

Entrepreneur


and their business

Entrepreneur


and their business

14


Brothers, Alan and Gary Keery are examples of entre-

preneurs who set up the Cereal Killer Café. Watch

the video clip to answer the questions below

5. Where is the Cereal Killer café located?______________________

6. How many bowls of cereal does the café serve a day?___________

7. How many types of cereal can customers choose from?__________

8. What year did the Cereal Killer café open? ____________________

9. Name three other countries Cereal Killer café has opened a

branch?__________________________________________________

10. Cereal Killer café has asked you to create a new cereal they could

sell to 11—14 year olds. Design the packaging and what the cereal

might look like in the bowl.

Date:_____________

15


11. List five reasons why someone may choose to start their own

business.

i._______________________________________________________

ii._______________________________________________________

iii.______________________________________________________

iv._______________________________________________________

v._______________________________________________________

James Cadbury is another example of an entrepreneur who founded

the company Love Cocoa in July 2016. Watch the video clip and an-

swer the questions below.

12. Who is James Cadbury’s famous great, great grandfather?

________________________________________________________

13. Love Cocoa chocolate bars are free from which three ingredients?

________________________________________________________

14. How much is the UK chocolate market currently worth? £_______

Read the article that is also on the PowerPoint slide to find out more

about James Cadbury and answer the question below.

15. Why do you think James Cadbury decided to start his own choco-

late business? ____________________________________________

________________________________________________________

Date:_____________

16


16. The table below shows the characteristics of a successful entre-

preneur.

Thinking of James Cadbury and his business, identify four characteris-

tics that are important for James to show and explain how they

will help him be a successful entrepreneur.

i._______________________________________________________

________________________________________________________

ii._______________________________________________________

________________________________________________________

iii.______________________________________________________

________________________________________________________

iv.______________________________________________________

________________________________________________________

Date:_____________

Self-belief Initiative Resilience Persistence

Risk taker Determination Creativity Vision

Passion Confident Problem solving Planning and or-

ganisation

Hardworking Ability to spot a

gap in the market Risk management People skills

17

A business idea—Sweet Treats

Maria has been baking special occasion cakes for her family and

friends for the past 3 years. She has decided to turn her hobby into a

business which she plans to open in the next six months.

Maria will be starting the business on her own and has decided to call

it Sweet Treats.

Starting a business on her own will mean Maria is a sole trader.

1. What is a sole trader? ____________________________________

________________________________________________________.

Maria thinks there will be lots of benefits from setting up her business

on her own as sole trader.

2. List four benefits Maria thinks she will have from being a sole trad-

er.

i.________________________________________________________

_________________________________________________________

ii._______________________________________________________

_________________________________________________________

iii._______________________________________________________

_________________________________________________________

iv._______________________________________________________

_________________________________________________________

Date:_____________

18


A major disadvantage of being a sole trader is the business will have

unlimited liability. This means that the business owner is personally

responsible for the debts of the business—if the business owes any

money, the owner is responsible for paying it.

3. List four other disadvantages that Maria will need to consider

when setting up her business as a sole trader.

i._______________________________________________________

ii._______________________________________________________

iii.______________________________________________________

iv.______________________________________________________

Maria’s best friend, Jenny, thinks Sweet Treats would be better set up

as a partnership rather than a sole trader. She would like to be

Maria’s partner in the business.

4. What is a partnership? ___________________________________

________________________________________________________.

5. What is a partnership agreement? __________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

Date:_____________

19


6. In the table below, add the missing advantages and disadvantages

for a business that is a partnership.

7. Maria is unsure of which type of business she should be. Should

she be a sole trader or a partnership with her best friend Jenny?

What would you recommend for Maria? Provide reasons for your

choice.

Recommendation:_________________________________________

Reason 1:_________________________________________________

________________________________________________________

________________________________________________________

Reason 2:_________________________________________________

________________________________________________________

________________________________________________________

Date:_____________

Advantages Disadvantages

Each partner can contribute

money to the business

Any losses will be shared be-

tween the partners

Unlimited Liability

Decision-making can take longer

20

Business costs - Sweet Treats

Maria and Jenny are thinking of the costs involved in starting their

business. When starting a business, there will be start up costs and

running costs.

Start-up costs are payments made before, or soon after, the start of a

project such as opening a new business. Start-up costs:

Usually occur only once.

May be quite high.

For example, Maria and Jenny paying for new oven they may need to

produce their cakes.

Running costs are paid once the business begins. Running costs:

Arise on a regular basis

Must be paid for as long as the project lasts

For example, Maria and Jenny paying for the ingredients they will

need each month.

1. In the table below, tick Sweet Treats start up costs and circle their

running costs.

Date:_____________

Buying the shop Creating a business

website The till for the shop

Buying new equip-

ment at the start

Paying for internet

connection

Buying uniforms for

staff Cake boxes

Heating and lighting

bills

Paying the rent/

mortgage for the shop Paper bags

Putting new signage

outside the shop

Producing posters to

advertise the shop

opening

Ingredients for the

cakes

Shelving and coun-

ters for the shop

Installing a new

alarm system

Painting the shop

before it opens

21


2. Define fixed cost and give an example?

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

3. Define variable cost and give an example?

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

4. What is the formula for calculating a business’ total costs?

5. State two reasons why is it important for a Sweet Treats to calcu-

late its total costs?

Reason 1:________________________________________________

________________________________________________________

Reason 2:________________________________________________

________________________________________________________

Date:_____________

Formula:

22

Business costs - Sweet Treats Date:_____________

In order to calculate total costs for Sweet Treats, you need to be able

to calculate total variable costs, total fixed costs and total costs.

Total Variable Costs = Variable cost for one cake x no. of cakes

Total Fixed Costs = Total of all fixed costs added together

Total Costs = Total variable costs + Total fixed costs

Worked example

A business has a fixed cost of £1000 a month. It produces 200 prod-

ucts per month and the variable cost for one product is £4. Calculate

the total costs per month.

Total variable costs = Variable Cost for one product x no. of prod-

ucts

= £4 x 200 = £800

Total Fixed Costs = £1000

Total Costs = Total variable costs + Total fixed costs

= £800 + £1000 = £1800 per month.

23


Maria and Jenny have calculated the costs for their business which

are shown below:

Fixed costs per month: £500

Variable cost of producing one cake: £12

6. Using the information on page 23, complete the table below.

7. What are Sweet Treats total variable costs for producing 75 cakes?

________________________________________________________

What are Sweet Treats total costs for producing 100 cakes?

________________________________________________________

How many cakes are being produced when total costs are £2300?

________________________________________________________

Date:_____________

Cakes per

month

Fixed Costs Variable Costs Total Cost

0 500 25 300 50 1100 75

100 125 1500 150 500 175 200 2900

24

Profit and Loss

Date:_____________ 1. What is revenue?

________________________________________________________

________________________________________________________

2. Fill in the blanks: Revenue can also be referred to as

___________________ or ______________________.

3. What is the formula for calculating revenue?

4. Sweet Treats sell their birthday cakes for £18. Calculate their reve-

nue in the table below:

Cakes sold Revenue (£)

0

5

10

15

20

25

30

35

40

45

Formula:

25

Profit and Loss

5. Define profit.

________________________________________________________

________________________________________________________

________________________________________________________

6. Define loss.

________________________________________________________

________________________________________________________

________________________________________________________

8. What is the formula for calculating profit and loss?

10. Calculate Sweet Treat’s profit or loss using the information and ta-

ble below:

Selling price per cake is £18.

Date:_____________

Formula:

Cake Total costs Profit/Loss (£) Revenue

0 1000

50 1500

100 2000

150 2500

200 3000

250 3500

26

Profit and Loss

11. Sweet Treats decides to increase the selling price of its cakes to

£20. Recalculate Sweet Treat’s profit or loss in table below:

12. A business knowing the level of profit and loss it is generating

means it make decisions.

If the business is making a loss they may decide to try and

__________________________________costs or increase its

_____________________________ in order to increase revenue.

If the business is making profit they may decide to spend the profit by

investing in business or _______________________________ save

for a bigger project in the future.

Date:_____________

Cake Total costs Profit/Loss (£) Revenue

0 1000

50 1500

100 2000

150 2500

200 3000

250 3500

300 4000

350 4500

400 5000

27

Marketing a business

1. What is marketing?_______________________________________

________________________________________________________

Sweet Treats is almost ready to open their business to customers.

Maria and Jenny both understand marketing the business will be im-

portant to ensure their bakery is successful.

They have decided they would like to produce the following to help

to market their bakery:

A business logo

A business card to hand out to customers

A leaflet to put through local letterboxes

A webpage for the internet.

You will help Sweet Treats to design and create their marketing mate-

rials. Information you can include about the business is:

Sweet Treats is are able to meet dietary needs such as gluten free, di-ary free, egg free and vegan cakes. Please ask to speak to Maria or Jenny for more information on ingredients. We can also work closely with our customers to create personalised cakes. We offer a free de-livery services for any customers who are within a 3 mile radius of the business.

Date:_____________

Birthday cakes from £18 Special occasion cakes from £25

Wedding cakes from £50 Cupcakes from £10 for a batch

of 6

28


Sweet Treats Logo design and annotations-

Sweet Treats business card design and annotations -

Date:_____________

29


Sweet Treats webpage design and annotations-

Date:_____________

30

Peer reflection—Marketing materials

Date:_____________

Name of student giving feedback (assessor):___________________________________

Identify two things you like about the business logo and explain why:

The first thing I like logo is_________________________________________________.

This is because___________________________________________________________

____________________________________________________________________.

The second thing I like logo is______________________________________________.

This is because___________________________________________________________

____________________________________________________________________.

Identify one thing you would do to improve the logo and explain why:

One thing that could be improved about business logo is________________________.

This is because___________________________________________________________

______________________________________________________________________.

Name of student giving feedback (assessor):___________________________________

Identify two things you like about the business leaflet and explain why:

The first thing I like business leaflet is________________________________________.

This is because___________________________________________________________

____________________________________________________________________.

The second thing I like business leaflet is______________________________________.

This is because___________________________________________________________

____________________________________________________________________.

Identify one thing you would do to improve the business leaflet and explain why:

One thing that could be improved about business leaflet is______________________.

This is because___________________________________________________________

______________________________________________________________________.

31

Your notes

Use this page to make your extra notes:

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

________________________________________________________

32

Setting up a business - I can statements

The statements below relate to knowledge and understanding of setting up a

business you will develop during this unit of work.

Read each of the statements below and tick the column that best represents

your knowledge and understanding in today’s lesson.

Setting up a business — I can statements

I can define the term enterprise

I can define the term entrepreneur

I can identify qualities needed to be a successful entrepreneur

I can discuss the qualities needed to be a successful entrepreneur

I understand why an entrepreneur may decide to start a business

I can define the term sole trader


I can define the term partnership


I can explain what a partnership agreement is

I can explain the term unlimited liability

I can define and give examples of start up costs

I can define and give examples of running costs

I can define and give examples of fixed costs

I can define and give examples of variable costs

I can calculate total costs

I can define revenue

I can calculate revenue

I can define profit and loss

I can calculate profit and loss

I understand the importance of monitoring profit and loss in a busi-

ness

sweet treats - loreto college, st albans · 2020. 3. 13. · presentation is below expected...

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