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Success is in the bag for enterprising teens
A GROUP of city entrepreneurs are celebrating after walking away with a top business award.
But what makes the Quad team different is that the company is made up of 16- and 17-year-olds from Oxford High School.
They developed a successful leather and textiles company and racked up sales of £5,000 a week.
Quad was voted the Oxfordshire Young Enterprise Company of the Year after impressing a team of judges made up of prominent county businesses and academics.
Managing director Eva Masmanian, 17, said: “When we started out we had no idea we could be so successful.
“It is incredible as there was so much competition from the other companies. We have learned so much from the experience.”
Marketing director Jessica Farmery, 17, added: “We don’t want to stop here – hopefully we can go on to win the regional and national competitions and go on to the international final.”
Quad was one of 43 companies involving 550 students from 35 schools and colleges across the county to take part in this year’s Young Enterprise in which pupils set up and run their own businesses over an academic year.
The 12-strong team sourced manufacturers for their bags and wallets in India and Indonesia and sold them for £25–£150 at various events.
Having made £5,000 last week after launching a textile bag, Quad expect to make a profit of £18,000 by summer.
They are also planning to launch a bag with GPS tracking, so it can be traced if stolen.
Graham Varney, of Oxford builders Benfield & Loxley, who acted as the company’s business adviser, added: “This year the competition has been of the highest calibre and I am delighted to have been able to work with the winning company.”
Quad will go on to represent the county at the South East regional final of the competition on June 12. If they win then they will compete in the national final from July 1–3.