Queen Margaret’s was the pilot school for this new approach by the Prince’s Trust with the model subsequently being rolled out to many schools in the North of England. Girls choose products and sell them to the School community by targeting popular termly events where parental and guest attendance can increase sales revenue. The Bursar acts as the Bank, with each team’s first activity focused on raising start-up finance.
At the start of each academic year, staff from the Prince’s Trust introduce the new challenge; girls then complete an application for a specific role in a company. After girls are selected, two companies are formed. The process is very competitive as only 12 girls are chosen each term. Teams then must create a brand identity, choose products based on market research, source suppliers and sell all stock in one term. Girls are required to create a variety of documents including a business plan, and produce sales forecasts and cash flow information for weekly board meetings.
A presentation takes place at the end of the academic year to allow both teams to present their ideas, financial data, and methods of execution. The presentation evening is supported by a mentor and guests, including a representative from the charity receiving a donation, will be invited. The Prince’s Trust will also present certificates to girls successfully completing the challenge.
Girls selected to participate can hope to gain skills in creativity, teamwork, problem solving, business planning, initatives and risk taking. Involvement in QMPT offers a significant accomplishment to be included on any CV.
In 2014, the QMPT teams raised more than £9,000 for the Prince’s trust and other local charities chosen by the teams.