Online Pocket Money Pitch

Imagine a year's worth of pocket money up for grabs,

just waiting for kids like you

from across the UK to come up with a winning business pitch.

-I live in Newcastle...

-..Birmingham...

..I'm from Manchester.

Could you spot a gap in the market?

My business idea is called My Perfect Library. It's an app.

What's your big idea?

My business idea is Football Cards World.

Or are you the next Branson, Sugar or Dyson?

My pitch is about a healthy fruit tuck shop.

Now, budding entrepreneurs are entering the pocket money pitch off.

All are hoping to secure that valuable pot of cash and the

priceless help of our top industry gurus

to kick-start their businesses.

They will have just one chance to call for help - and this is it!

The Pause My Pitch button.

One guru to impress -

only one idea can come out on top.

This is Pocket Money Pitch!

Pocket Money Pitchers, it's time to go head-to-head.

Present your pitch.

-The pitcher...

-..I've chosen...

-..is...

We have searched the whole of the UK

to find the best young business talent.

And you didn't disappoint.

In each episode, six pitchers will battle it out.

Today they've got businesses you can use

by just turning on your computer.

Out of every £5 spent in the UK,

£1 is spent online - that's £50 billion every year!

Only three will get the chance

to pitch in the Vault to today's guru, Sarah Jane Thomson.

Sarah Jane is a giant in the online business world.

She founded a leading children's newspaper,

and is worth around £15 million.

Our pitchers can improve their chances of impressing the guru

by winning the support of a business buddy.

As successful entrepreneurs in their own fields,

they'll be able to spot a winning idea.

So they are our buddies. Here are our pitchers.

In our first head-to-head is 11-year-old Shanika from London.

I'm a great businessperson, because I'm very creative

and I can think on my feet.

She'll be up against brother-and-sister duo 8-year-old

Stanley and 10-year-old Anna from Leeds.

Stanley's more the creative one in our business.

And Anna's normally the computer whizz kid.

-But together...

-BOTH:

-..we are brilliant.

The two teams will go head-to-head, and whoever gets the most votes

from our buddies will go through to pitch to the guru.

First up is Shanika.

I'm here to represent my business, which is called Earth to Caric.

My business offers personalised school accessories,

using the caricature of the wearer.

I would like to place these caricatures onto items

such as rucksacks, hooded tops,

pencil cases, PE kits,

stationery and so on.

My target market would be girls and boys

between the ages of 5 and 11.

I think my business has potential

and it could extend for older people

between the ages of 20s and 40s.

Personalising products with original caricature drawings is a unique

idea, but how will it stand up next to Anna and Stanley's business?

designmypencilcase.com is a website where children

and parents go to choose and to design their own pencil cases.

This can be based on...

Size, material, colour, text and text colour.

We will also develop an app to go with our website.

A recent press release states that approximately 12 million

pencil cases are sold each year at an average cost of £5

per pencil case and another £5 for its contents,

such as pens, pencils, rulers, etc.

-BOTH:

-Thank you.

The buddies have heard two ideas selling personalised school

accessories online.

Now they must choose which one they think has the most potential.

First up, it's online business expert, Ben.

Well done to Earth to Caric. I think you've got a great business

but I'm going to vote for designmypencilcase.com

That's one vote for Anna and Stanley.

Next up, product designer Emily.

I'm going to go Earth to Caric.

And that's because you can see a real trend of personalising emojis

and emoticons now, so I think it's fantastic.

Now, internet entrepreneur Suleman.

Design My Pencil Case, I thought your pitch was excellent,

so I'm going to go for designmypencilcase.com.

designmypencilcase.com, you have got two votes there.

You only need one more buddy to press their light for you

and then you are through to the next stage.

Next to vote is designer Emma Jayne.

I'm going to vote for Design My Pencil Case.

designmypencilcase.com, you've made it through to the next stage.

You've got three votes there.

Shanika, unfortunately, it means you don't,

but let's find out what our final buddy thought. Amber?

My vote is with designyourpencilcase.com.

Well done to designmypencilcase.com.

Shanika didn't quite make it today,

but she's still determined to get her business off the ground.

I'm really happy that Emily voted for me

and I'm going to carry on with this business idea.

Getting four of the five buddy votes,

Anna and Stanley are now in control and can choose who

they want to work with from the buddies who voted for them.

There's Ben, who started making websites at just 11 years old.

Suleman, one of the UK's top online entrepreneurs.

Emma-Jayne, who's won awards for her quirky and creative business.

Or Amber, who knows all about selling products online.

Amber, or Ben.

I want our website to be good.

The buddy they choose will help them develop their pitch

and be their lifeline when they face the guru,

so it's vital they choose the right buddy.

-We're going to go with Ben.

-Ben.

Ben, you're in!

A delighted Ben goes to work with Anna and Stanley.

It's now time for our next head-to-head.

First is 12-year-old Amelia from Northampton.

I do stand up for what I believe in, so if I had an idea

that I particularly believed in in business,

I could present that in a good way.

And she's going head-to-head with sisters 10-year-old Esme

and 12-year-old Nommy from Aberdeen.

-We're mind readers.

-I always know what she's thinking

and she always knows what I'm thinking.

And that's why we're going to make a really good team.

With restaurant owner Luke as a new addition to our line-up of buddies,

it's time for Amelia to deliver her pitch.

Hello.

I'm Amelia and I'd like to introduce you to Quirky Breaks,

an online business which allows people to fully design

their own individual windbreak.

They would design their windbreak a panel at a time.

This is a unique selling point.

In the summer, beaches fill up with people trying to get a day

in the sun before it starts raining again.

If a child was to wander off to play, turning round to

a sea of almost identical windbreaks could be frightening.

If they were to turn around and see the patterns

and colours of their unique windbreak, it would be an

easily recognisable landmark for the child to safely return to.

There is a gap in the market for THIS product.

A gap that Quirky Breaks windbreaks can fill.

Thank you.

A bright idea for our windy British beaches from Amelia there,

but will Esme and Nommy turn the tide?

Our product is different from anything else on the market,

because it offers the buyer a chance to get a personalised

gift for those whom they love.

Our frames showcase just how much love and thought

can go into one gift.

Here's an example.

First, we ask the customer words

that are close to the person that the gift is for.

For example, friendly, funny and kind.

Then we ask the occasion of the gift.

A birthday, anniversary, or for a favourite teacher.

We then look for these words or even images if requested,

in newspapers, magazines or other recyclables.

This is what gives our product its unique, eco-friendly feel.

I think we all know the person who is impossible to buy

a gift for and please. Now that'll all be history.

Our business will succeed because it appeals to everyone

and is great value for money.

Thank you for listening.

Esme and Nommy have tapped into the business trend for selling

crafty creations online. Now it's all down to the buddy's votes.

First up, restaurant owner Luke.

-I'm going to be going for Frame, Fern and Feather.

-There we go.

One vote for you.

'Next, Emily.'

Fantastic job, guys, I am also going to go for Frame, Fern and Feather.

'Esme and Nommy now have two votes.

'If Suleman also votes for them,

'then they will go through to the next stage.'

It was just too close to call for me, this one.

-But I'm going to go for Quirky Break.

-Quirky Breaks, there you go.

There's a vote in the bag there.

'Next to vote is Emma-Jayne.'

I love both ideas but I'm also going to go for Quirky Breaks.

'With two votes each, it's down to Amber to cast the deciding vote.'

It's a really, really tough decision

because there were strong pitches from both of you.

But I am going to have to vote with...

..Frame, Fern and Feather.

'Wow, it was so close at three votes to two.

'But it's Amelia who will be going home.'

I really, really enjoyed it and I think I did my pitch really well

and it all came down to, you know, which idea they liked on the day.

The tables have now turned and it's Esme and Nommy who get to choose

one of the three business buddies to help them pitch to the guru.

It's an important decision.

How... In which ways to think you could help us

develop our business?

Where I could help you out mainly is from a marketing perspective

and also scalability.

We ship products to 52 different countries and, if you're online,

there's no reason you can't be global.

My background is in the gift industry, so I'm very familiar with

the territory that you're trying to conquer with your business.

Who would you like to pick as your buddy?

First off, I think you've all got really strong points

but I think that we're going to go for Amber.

-Amber.

-Amber.

'Check out those moves. Now Amber goes to work with the girls.'

'It's time for our final head-to-head.

'It's 13-year-old Daniel from Essex.'

I'm passionate about coding because it's all about, like,

making your own program to do something that you want it to do.

It's like a jigsaw, putting all the different blocks together.

'He's up against 12-year-old Carys

'and 13-year-old Beth from Eastbourne.'

Running a business is really hard to do

but being best friends helps because we knew each other's qualities.

-'With branding expert Bianca joining the buddy

-line up...' Hello.

'..it's time for the next round. First up, Coding Kids..

Coding Kids is a website where you can buy and download

a set of tutorials that teach kids how to code their own websites.

This is Cody, he will be taking you through all the tutorials.

Unlike other tutorials, Coding Kids is in a safe environment,

as there are no cookies, no ads and it's accessible off-line.

I would like to get this package into every secondary school

in the UK, of which there are around 5,000,

because HTML is now part of the National Curriculum,

therefore making Coding Kids a valuable teaching resource.

Thank you for listening.

'Daniel wants to turn his coding hobby into a profitable business.

'Next to pitch, it's Carys and Beth, who've come up with a unique app

'that rewards kids for doing chores at home.'

-Hello, I'm Beth...

-..and I'm Carys. We are the founders of this app.

Our app is called Chore Challenge.

We hope it provides families with a stress-free week without

having children complaining about having to complete chores.

Also we hope that we can teach children important life skills,

such as money awareness and saving.

Our app turns chores into points,

which can eventually end up as prizes.

These prizes are selected and decided by the parents

and the child together.

The parent can choose to either insert the points once

the chore has been done at the end of the day or week.

Thank you for listening.

Two fantastic pitches, the buddies face a tough choice.

First up, Emma-Jayne.

I liked them both but I'm going to go for Chore Challenge.

Next is branding expert Bianca.

I think you were both excellent

but I'm going to go with Coding Kids.

Coding Kids, there you go. You've got one each now.

Let's find out who Luke's going to vote for.

Some great ideas, guys, but, for me, Coding Kids.

'Next it's Emily.'

I'm going to go for Chore Challenge.

Look at that. We are now even.

Suleman, you have the deciding vote.

-Who are you going to vote for?

-Chore Challenge, great product...

Daniel, I don't smile often but you did make me smile.

I'm going to go for Coding Kids.

Daniel, you've made it through, well done.

'Another close result and, although Chore Challenge is going home,

'they're not giving up on their business.'

We're going to carry on our idea

and hopefully it will be on the market soon.

'Now Daniel gets to choose one of the three buddies who voted for him.

'But who's the perfect fit for his business...

'..Luke, who could really advise him on how to grow a company...

'..Suleman, who has a background in starting online businesses...

'..or Bianca, who could help Daniel with the marketing of this idea?'

It's a tough choice.

I'm going to go with Suleman.

He's over the moon about that.

I am actually really over the moon, I am, I genuinely am over the moon.

Daniel, good luck, we will see you in the Vault a little bit later on.

Thanks.

So six have become three.

designmypencilcase.com, Frame, Fern and Feather

and Coding Kids.

They will now prepare for their pitch to our guru, Sarah Jane.

Sarah Jane is one of the UK's top media and tech entrepreneurs,

who's set up and sold loads of successful businesses.

I think, for me in business, it's been about being really

passionate and getting fantastic people to believe as much as

I do and to be as motivated as I am to see them through.

So what will Sarah Jane be looking for from the new ideas?

I'm looking for a pitch which is delivered in a really

confident manner where they really understand their product

and they've got a real, clear vision of how to take it to market.

I want an idea that's going to be the next big thing.

Hey, Daniel. Congratulations. Well done.

One business will win time with Sarah Jane

and a year's worth of pocket money.

That's £322.40 to invest in their business.

We've got an amount of time now that we can use to refine your pitch.

The young entrepreneurs will need to use all

the experience of their business buddies to help them.

I want to talk about the five Ps of marketing.

You've got product, price, place, people and then promotion.

We're going to start when you first get into your pitch

and you're going to say,

"How do we find the next big tech idea in the UK?"

-I believe I've got the answer to that and that is Coding Kids.

-Yeah.

Just be confident in your product because there's a real opportunity

for your product here and you could create a really massive business.

Now, while the pocket-money pitchers get ready,

the Vault is preparing for the final showdown.

The mission, to win over the guru.

But if, at any point, the pitchers get stuck, they can press this,

the Pause My Pitch button, and a guru will be locked away

and the buddy will be able to run on and help them

but they need to choose their time wisely with this

because they can only "pause my pitch" once.

'Sarah Jane is looking for confident pitchers who

'understand their product and the future for their business.

'First up, Anna and Stanley.

'Ben is nervously watching backstage, ready to help

'if they pause their pitch.'

Good luck. Present your pitch.

designmypencilcase.com is a place where children

and parents go to choose and design their pencil case.

To help start your design journey, Stanley and I have written a blog.

This will help users to design their pencil case

and also alert children to the latest trends in pencil cases.

Pricing-wise, we charge 4.99 for plain pencil cases...

-..6.99 for personalised pencil cases...

-..and 1.99 for postage.

A recent press release states that the stationery market

in the UK is worth £1.2 billion.

Approximately 12 million pencil cases are sold each year

at an average price of £5 per pencil case

and another £5 for its contents.

This makes the market size for pencil cases

to between £60 million to £120 million each year in the UK.

If, in the first year, we take 1% of the market share,

we will have sales of £600,000 and a net profit of £30,000.

Design My Pencil Case is the place to go

because we are passionate about school.

Thank you.

Wow, what a great pitch. Can I come and have a look?

'A brilliant pitch from Anna and Stanley,

'who clearly know their numbers.'

Here are some of our finished products.

'And they've brought prototypes to impress the guru.'

This is our material that we'll use, that's one of ours zips.

'Sarah Jane wants to know more.'

Who came up with the idea?

We both came up with the idea but I was getting kind of quite

sick and tired of just buying pencil cases, not ones that I liked,

so I thought,

"Why don't we give children the opportunity

"to design their pencil cases?"

Has it been difficult to come up with the price?

We've seen the prices that other websites sell

and we've made ours a bit like theirs.

And if you were to get the pocket money,

what would you do with that money?

Advertising, branding and marketing.

-And what would you do for marketing?

-We'll try and...

Erm...

This is something there buddy Ben knows all about.

They've done it, they've paused their pitch,

locking away Sarah Jane, so that Ben can give them some advice.

Massive well done, guys, you're doing really well.

Obviously we need to think about how you're going to spend

-the marketing. So we were going to target Leeds, weren't we?

-Yeah.

So what sort of things in Leeds could we do?

-Children's magazines.

-Children's magazines.

What about actually going to events? What did we say about...?

-Christmas fairs.

-Christmas fairs and things like that.

Yeah, so that's putting you in front of a customer,

that's going to be really effective.

-Yeah? Shall we say them things?

-Yeah.

High fives all round. Let's do it.

Erm, we'd try and put them in school magazines,

try and sell it in children's magazines, newspapers

and also school events such as Christmas fairs and summer fairs.

-OK, sounds great. Brilliant, thanks ever so much.

-Thank you.

'Next up, it's the mind-reading sisters Esme and Nommy.'

Good luck, girls, present your pitch.

Spend 17 hours going round the shops and still coming back with nothing?

-You've been there, I've been there.

-We've all been there.

It's time to get personal.

Our product will make those gift-shopping frustrations

a thing of the past.

We want our website to become the number-one destination for DIY kits.

Our DIY kits allow people to create one of these in their very own home.

We will sell these for £9.99,

creating an average profit yearly of £30,000.

Ambitious? Maybe, but we've got the facts.

As financial manager, I have done a lot of research.

We have found that if we oversource this to places like China,

we can buy frames for as little as £1.

Our business will succeed because it's appealing to everyone

and because it's great value for money.

Thank you for listening.

They have nailed it on the numbers

but Sarah Jane has questions about the product.

Hello, girls, can you tell me what would the customer be choosing?

They would be choosing different words?

Words and the background of the wallpaper.

And who is your target market? Who are you hoping to sell to?

I want to pause my pitch.

Another tricky question

but hopefully Amber can get the girls back on track.

We haven't really thought about what our target market would be.

So let's think about what's in the kit. So who's that appealing to?

-Teenagers...

-Teenagers, preteens. Also the adults.

-11 to adults?

Yeah. OK, it's going really well.

Our target market is very large and it ranges from preteens to adults

but also our themes can be done to suit the age.

OK, that's brilliant, thank you very much, girls.

'The last contender - it's Daniel with his business Coding Kids.'

How do we get the next big idea to come from the UK?

I'm Daniel and this is Cody and we're on a mission,

a mission to teach every child in the UK to code.

Our idea is a website where you can buy and download

a set of tutorials that teach kids how to code their own websites.

They are based on the programming language HTML,

which is all part of the National Curriculum.

Cody will be there to take them through it step-by-step.

The tutorials have global impact too, as it boosts the economy,

creates new jobs

and equips younger people to get ready for the job world out there.

Coding Kids is already being trialled in my school at the moment

and they have given me excellent reviews.

Thank you for listening.

Wow, thank you.

Daniel has done a first-class pitch

but how will he stand up to Sarah Jane's questions?

So you're very passionate about this, Daniel.

-Can you code yourself?

-Yeah, I can.

I coded the tutorials by myself and the sales website too.

And how would you use the money if you were to get the pocket money?

I was going to spend it on a web shop for my website,

so where users can buy...buy the tutorials and it's a safe...

safe environment where they buy it, so there's no hacks or anything.

Coding Kids is a great name but have you got the URL for that name?

Yes, it is, erm,

www.coding-kids.net

Thank you very much, Daniel.

'Good going from Daniel and his furry friend Cody.

'The final pitch is done.'

'They have given it their all

'but only one business can receive the year's worth of pocket money.'

They all did brilliantly, fantastic ideas.

Design My Pencil Case, very innovative.

You knew your numbers and I love the idea.

Frame, Fern and Feather, very focused

and I would definitely buy one of those, I think they're fantastic.

And then Coding Kids, really innovative,

so much passion and belief from you.

It's so hard for me to choose.

Sarah Jane, who is the prize pitcher?

The pitcher I've chosen is...

..Coding Kids.

APPLAUSE

-Congratulations, sir, well done.

-Well done. Brilliant.

-How do you feel?

-Yeah, I really didn't expect it.

-I thought the other pitches were too good.

-Yeah.

Well, we are so proud of you.

I thought both the other pitches were really brilliant

but I think Daniel's pitch was incredibly passionate.

I just was captivated by a belief and a passion to create

something, which he'd clearly spent so much time thinking about.

Unfortunately we didn't win but...

-We're still going to carry on with the business.

-Yeah.

I'm pleased that we've got this far and I'm really proud.

It's definitely encouraged us to do something a lot more with the idea.

Yeah, definitely.

So, Daniel, welcome to First News.

Daniel has a year's worth of pocket money to help

get his business off the ground.

So do you want to try and bring these two logos together and see how...

Yeah, so maybe put, like, Cody on the side of the logo.

Find out what he learned from his time with Sarah Jane in

Pocket Money Pitch - What Happened Next? at the end of this series.

Is this the kind of thing that you had in mind?

-I like the way the wings blend into the...

-You think it looks good?

Yeah, it's brilliant.