Cathay Craftz diary – Feb 6th
- 6 Feb 07, 05:55 PM
We’re certainly learning that running a business has highs and lows. We’ve got good and bad news today.
Good news first though! Manchester Science Park, who is one of the sponsors of our Academy, has agreed to underwrite the £80 cost of leasing a stall at the Chinese New Year celebrations in Manchester. This is great news, as the £80 was a big investment for us when we are not sure of our return. However, we’ve got to go and meet a representative from Manchester Science Park to negotiate the terms of the loan. They want a return on their investment so have asked for a percentage of our profits from the stall. It’s tough but then business is tough. We’ll keep you updated with how the negotiations go.
We’ve also been given an order by another restaurant in Manchester. Croma, a restaurant in the city centre is paying us to make them a Valentine’s window display. We’ve got to deliver it to them by the 13th February, but that’s half term, so we’re trying to get ahead of schedule and get it done by this Friday. Although we are trying to use donated paper and gift wrap, an order like this means that we have to buy paper to ensure quality. It eats into our profits a bit, but we make sure that we factor that into our prices!
Production is underway for the contents of our stall at the Chinese New Year celebrations. We’ve even learnt to make origami pigs to capitalise on the fact that it will be the year of the Pig. We’re also hoping that our origami hearts will sell well this week in school as Valentines gifts.
Now for our bad news. One of our directors, Jamie, has decided to resign his post on the Cathay Craftz board. Unfortunately he was finding it difficult to juggle the competition and his school work. We’re sad that he feels he has to leave, but we respect his decision. We are going to have a meeting later today to decide on how we fill his vacant post.
It’s not all easy, that’s definitely something we’ve learned so far!
Tuesday afternoon: We’ve just had a meeting and decided who our new director is. Prabhjot has been a key part of the team so far and has also been involved last year in Young Enterprise. It was hard, because we had a number of people we could’ve asked, but we feel that Prabhjot will make an impact in the short time we have left.
Yahui, Marcelle and Yidan…. and Prabhjot!