Share Holders Report - March 2016
Made in Yorkshire made a very promising start to Young Enterprise. We experienced huge success when launching our first product range of candles at Kelham Island trade fair and Wakefield trade fair, selling 100% of stock at both events. We built on our achievements, utilising new found knowledge from market research to chose new scents for our candles to reflect the next season that also displayed variety to appeal to everyone. We have learnt that teamwork is crucial to success. We set out clear roles early on so we could communicate and work more effectively, and therefore, maximise impact. We quickly realised from initial market research that high quality, environmentally friendly products will sell more. Therefore, we have ensured that we keep our products to a high standard, consequently selling our products at a price that maximises sales and also profit. We have discovered that location and timing is influential to improving sales performance. We have also learnt that clear financial visibility allows effective decision making. We anticipate continued profitable trading throughout the rest of the trading year. We hope to expand our product range with a cookbook including traditional Yorkshire recipes and more Yorkshire inspired scents for candles to allow us to spread the Yorkshire joy even further. Financial Update Total Receipts £978.80 Total Payments £646.14 Total Revenue £724.80 Interim Profit £332.66 Gross Profit Margin 37%