Souvenirs Trade Your Way to the USA

I'm Saira Khan.

I started trading when I was just a teenager.

Now I'm looking for the next generation of budding entrepreneurs

who are fantastic at trading and know how to make a profit.

I'm looking for Britain's best young traders.

Could you do three for £2?

-Can I interest you in only 50p for the jumbo sword?

-Yes!

-No.

From over 1,000 applicants, 14 teams have made it through to the heats.

Would you like a pick-and-mix fruit dessert?

Very nice. Lovely.

They will be tested in a range of tough trading challenges.

I don't know how I'm going to survive with this cheese challenge.

I think you look amazing.

Each team will be given £75.

They must decide what to buy...

I think we need to look for a cheaper option.

-..negotiate the lowest prices...

-It's a deal.

-£8.40?

-You drive a hard bargain, you guys.

Nice doing business with you.

..and then they must sell, sell, sell.

-Pick any ring you want.

-Yeah, £10.

Come on, glitzy glam!

The team that takes the most money wins the challenge.

But only the teams that top the leaderboard

could be in with a chance of competing

in the grand final in New York.

Trade your way to the USA. U...S...A.

Watch them in action, listen out for my top trading tips, and one day,

you too could trade your way to the USA.

Let's meet today's two teams.

It's New Minds of Hampshire versus Aspire of Glasgow.

Ho! Ho! Hooo, ho!

-ALL:

-We're New Minds, and we're going to trade our way to the USA.

I'm Krystyna, and I've been doing gymnastics for about seven years.

To do gymnastics you've got to push yourself,

which is what we need to do as a team to succeed in the competition.

I'm Priyanka, and one of my favourite hobbies is textiles.

I absolutely love making things.

This requires quite a lot of patience,

because the process takes a long time,

but the end is definitely worth it.

My name is Sarayu, and I really enjoy dancing.

I've been doing it for three years.

There's a few things you need to be able to do to be a dancer.

You need to be confident, be a perfectionist,

and you need to be dedicated.

I am the creative side, I can come up with the idea,

Sarayu is good at talking to people, she's a great people person,

interacting with customers, and Priya's very good at maths,

so she can do all the accountancy and all that side.

We're also quite all-rounded,

so we can all take over from each other if needed as well,

and we work together really well.

New Minds sound confident, but let's check out their competition.

ALL: We are Aspire!

And we're going to trade our way to the USA.

Our team name is Aspire.

We chose this because we think it reflects our personalities.

We aspire to be the top and basically number one in all that we do.

Michael's a really good guy. He's really funny as well.

He's always got good jokes going, just a funny guy in general.

Adil's going to bring a lot of experience to the team,

because he's been working in his dad's shop,

so I think that will really help our team.

Francesco is a funny guy. He's definitely not shy.

He can shout at the public, he'll do what you want.

You don't know what he'll do next.

We're up for it and we have got determination and aspiration,

hence the name Aspire.

So, it's the shopping-savvy New Minds

versus the cheeky sellers of Aspire.

I'm going to put their trading skills to the test,

but which team will take the most money and win today's challenge?

Today we're in the heart of London in Covent Garden.

It's one of the oldest and busiest marketplaces in the world.

People have been trading here for over 300 years,

and there are thousands of visitors.

Let's reveal today's challenge to the teams.

Welcome, teams. You're Aspire, and you're New Minds.

Your trading challenge

is to set up a stall selling gifts and souvenirs in Covent Garden.

Covent Garden attracts thousands of visitors every day

from all over the world.

Many of them could be interested in buying gifts and souvenirs,

and that's why we're here

at Elgate Gifts And Souvenirs Warehouse in Kent.

In there they've got everything you need,

so I suggest you start looking.

'There's so much choice here, from toys, games and all sorts of gifts.

'New Minds and Aspire have to pick the winning combination of products

'to sell on their stalls.

'There'll be thousands of visitors looking for souvenirs to take home

'as a memory of their trip to Britain,

'but what will they buy from our traders?'

This is your trading fund.

Spend it wisely. But first, let me introduce you to Debbie.

She's the product director here at Elgate.

You'll be buying directly from her. Haggle hard.

So, what will the teams spend that £75 on today?

First rule of trading is research.

They've got 15 minutes to pick Debbie's brains

and decide on what to buy.

Right, now here is our souvenir room.

There's every souvenir you could think of -

bags, egg cups, snow globes and photo frames.

So, does anybody have any questions?

What would you recommend for Covent Garden especially?

Covent Garden's tricky,

because you've got such a huge variety of buyers.

You've got your overseas tourists,

you've got people just visiting for the day,

so I'd probably direct you to the smaller, cheaper items.

Is there anything here that's unique,

that other stalls won't have and we could?

That's the 1 million question.

There is nothing here, probably, that's completely unique,

but I think your overall key secret for tomorrow

will be how you display it, how you merchandise it, and that's key.

But if you want to know a best seller,

I'd probably point you in the direction of a bus key ring.

When an expert tells you that a product is best selling,

that is a massive clue for you to buy loads of it.

Armed with information about their customers and what sells best,

the teams must now decide on what to buy.

We need to spend about 50% on little things, at least,

on the key rings, the magnets...

-Talk about the money, leave the percentage.

-50% is a lot.

That's an interesting strategy.

Aspire want to spend 50% of their money

on cheap things like key rings.

Buy cheap and sell dear.

Basically, that's the basic plan, yeah.

New Minds have a very different strategy.

I really think we should have some high-profit items.

At least like two or three

that we will make about £10 off by just selling one.

£10 an item?

So New Minds are looking at buying fewer, more expensive souvenirs.

I think the plan is to buy quite big, expensive items, because

you don't have to sell as many and you can get big profit on them.

My top tip to all you traders is selling fewer items

at high prices could make you lots of money, but it's a risky strategy.

So much choice, so many souvenirs, so little time,

and the teams are back in the showroom.

Right, you look for that and I'll keep doing this,

cos we've not got a lot of time.

Aspire's strategy is to buy lots of cheap souvenirs, like key rings,

key rings, and more key rings.

People love these things. 42p!?

Adil, these are 42p each, right?

See this box, Francesco?

-This is 65p.

-65p?!

We could sell that for at least £2!

Looks like Francesco's got an idea.

Sell them all off individually.

So divided by, hang on, one, two, three, four, five, six...

Francesco wants to buy a whole pack of pens

and split them up to sell individually.

That way, they can charge more for each one. That's smart trading.

£4.65, one big bus.

Hang on, where's Francesco off to?

That's not a cheap item.

We want to get this teapot,

because it's a teapot and a cup, and they match.

A teapot? Well, let's see if you can sell that.

Now it's New Minds' turn.

I think maybe we should get some of these, because they're £1.15.

Oh, oh, I love that!

They're £1.65, Priya.

These are quite nice,

but they're a bit old-fashioned now, lipstick cases.

-Is that £1?

-Yeah, that's £1.

Bags, purses, lipstick cases...

I hope New Minds aren't getting distracted

by buying things they'd like for themselves.

It's tempting, but they've got to think about the customers.

My top tip to all you traders -

don't forget, customers always come first.

I feel like me and Krystyna and Priya loose in a shopping centre

would probably buy everything if we could.

I thought we were going to get more high-priced things.

Yeah, guys, come on.

Well remembered, Krystyna, stick to your plan.

-If we get two of them?

-No, I think we should get five.

-Really?

-Yeah.

-Do you think we'll be able to sell that much?

-Ooh, true.

Two of them, two of them, two of them...

-Shall we say five of them, six of them?

-Maybe more, ten?

-Six.

Do we have enough money?

-These are so cool.

-How much are they?

£1. I think we could sell that off as £4. Or maybe £3.

Time is up on deciding what to buy.

Now they have to negotiate with Debbie.

Remember, the teams have a £75 trade fund to spend.

They need to haggle for the best prices now

so they can take the most money when they sell tomorrow.

-Aspire are up first.

-Hi, Aspire.

-Hi.

-So, you've walked round and made your selections?

Yeah.

Now they've just got to hold out and get the best deals they can.

-You doing the adding up down there as you go?

-I'm trying to, yeah.

-First up is the key rings.

-Could we have one pack in gold, and...

So you want more of a variety of key rings?

-Yes, one pack in gold and one pack in silver.

-All right.

We're not going to sell 24 of each.

Seriously, they're the top sellers, Cesco.

You think we're going to sell 48 of them? Honestly?

Yeah, genuinely I do. I believe we will.

People buy them in thousands, Cesco.

Yeah, that's shops, we've only got one day.

Yeah, one day in which thousands of people will be going past our stall.

Francesco isn't so sure about buying so many key rings.

Could you give us six of these?

At 75p each?

That's too far.

That's a massive discount. They're 88p,

so as a percentage discount, that's a huge discount.

We don't need to take money off everything.

I've just heard Francesco tell Michael

that you don't have to knock prices off everything.

I totally disagree.

You have to get yourself a bargain in order to make the most money.

Michael is determined to haggle over the cups.

It's £1.35.

What sort of discount are you looking for?

Maybe £1.10?

-How about £1.20?

-£1.15.

Done. OK.

'Michael's managed to get a 15% discount on each mug.

'That's a great deal.'

Go and get the teapot.

They've got just a few pounds left.

Hang on, where's Francesco going?

It's that teapot. He's determined to have one on the stall,

but Debbie only sells six at a time for £4.95.

-Will she let him buy just one?

-Would you be able to sell us just one?

-One or two?

-Well, those come packed, six pieces.

I would think, yes, we could probably work something out.

I would say a fair price would be...

£5?

Seeing as he's got a cheeky grin, £5.

OK?

'Well done, Aspire.

'They get that teapot for £5.

'Now it's New Minds' turn. But will they get a better deal than Aspire?'

Yeah, we're going to go for the purses,

-and we're going to get six of them.

-Six of those.

So those are £1, and you'd like six?

We were wondering if we could buy them for maybe £4.50,

£3.50 for six, £4.50 for six?

I could maybe, maybe, maybe, do those for 90p.

It's not really much of a discount, is it?

Could we maybe get all six of them for £5?

-No.

-You drive a hard bargain!

'The girls settle on 90p a purse.

'That's a 10% discount, a good start.

'Can they keep up the good work over the fridge magnets?'

Four of each type for £4.50.

So you're talking 12 magnets...

..for £4.50?

I do have to laugh at the discounts you're giving yourselves here.

Priyanka is a very good negotiator.

She's confident, determined, and a little bit cheeky.

We were wondering if you could give it to us for £7.50 for the 12?

Erm... £7.75.

Yeah. We can do that.

New Minds' strategy is to buy more expensive items like photo frames,

but to make a good profit, they must get a discount on them.

Would you be prepared to pay four of those for £12?

Yeah, that should be OK. So that makes them £3 on the nose. All right?

Good haggling, New Minds.

Lovely. Thank you very much.

So the deals are done. How did the teams spend that £75 trade fund?

Aspire spent £54 on lots of small, cheaper items -

key rings, fridge magnets, pens and magic cubes.

The teapot cost £5,

and the rest went on mugs, school kits and small photo frames.

New Minds have gone for more expensive things,

spending £46 on photo frames, bags and mugs.

They've also bought purses, fridge magnets and wristbands.

So it's the buy low and pile it high approach of Aspire

versus the more expensive items with a touch of glamour for New Minds.

Now it's all about who sells best.

Only one team will win and still be in with a chance

of trading their way to the USA

and becoming Britain's best young traders. Let the battle commence.

It's the selling day. We're in London, at Covent Garden Market.

There are thousands of visitors from all over the world

enjoying their visit to Britain.

What souvenirs and gifts will they be interested in buying here?

Well, here we are at one of London's busiest tourist attractions,

Covent Garden Piazza.

It's your selling day.

Remember, the team that makes the most money wins the challenge

and has a shot at the semifinal.

Win that, and you'll be trading your way to the USA.

I can hear the traders behind me getting ready.

I think you should do the same. Get cracking.

It's good, it's fine, it's good.

The teams only have three hours to sell.

The pressure's on to get their souvenir stalls ready.

Both teams have been thinking hard about their selling strategies.

We've sorted out all of our pricing for today.

Last night in the hotel room we done it.

I'll put two of these out, right?

Our sales plan is to keep going with our prices until the very end,

and then we're going to reduce them

to attract more customers and sell out.

We want to make our stall really attractive so it stands out,

so people are going to walk by, they'll see our flags.

Both teams have put effort

into making their stalls look really nice,

but New Minds in particular have focused on the detail.

They've got a price list visible for everybody to see,

and that is a really good selling point.

Their souvenir stalls are set up.

-Teams, are you ready?

-Yes!

Start selling!

Got a small photo frame, which is a circle.

New Minds are quick off the mark with lots of interest.

And Aspire really want to sell their teapot.

-Got this very fancy teapot.

-And guess what? It's a cup as well.

I'm sure if you go down the road you'll be seeing these,

and they'll be selling for a tenner at least.

Francesco has really got the gift of the gab.

He's cheeky, he's passionate, he's fun and he's smiley.

The customers are loving him.

-First sale!

-Thank you.

You're welcome.

Just made our first sale. Yay!

-A pen.

-We sold a pen!

So first sale to Aspire.

You know what? Good luck.

-I have to admit, you're really good.

-Thank you!

Key rings and magnets are just £1!

The visitors are from all over the world,

so the teams have to find clever ways

to persuade people who speak a different language to buy.

We've been going round here selling stuff on the tray,

'and we haven't had much luck at the moment.'

New Minds seem to be struggling with the language barrier.

These both together are £2.50, but individually they're £3.

Would you be interested in buying one?

I get a sense from New Minds they're feeling frustrated

because their customers can't all speak English.

Now, that's just an obstacle you've got to overcome.

You've got to let your product do the talking and be enthusiastic.

I really don't understand.

Our English is very bad.

It's important to adapt and be flexible in trading.

Francesco is overcoming the situation

by using other means of communication,

and Priyanka is really trying.

Would you like to come and see our stall?

Would you like to...

Come on, and we'll show you our stall.

# Under my umbrella... #

If the language barrier wasn't enough, it now starts raining.

Well, it is Britain.

Rain is a market trader's worst nightmare,

so how will the teams deal with the weather?

Quite frustrated. Because of the rain,

no-one's coming out to buy anything.

They're all just heading inside as soon as possible.

It seems that Francesco isn't put off.

He's braving that rain to take the product to the customers.

Nice meeting you.

My top tip to all you traders - if it starts raining,

you've got to keep selling regardless of the weather.

The rain has stopped, the sun's come out,

and there are loads of customers here.

This is a fantastic opportunity to sell.

It's an hour into the selling.

Aspire are doing well, but remember,

New Minds have bought fewer, more expensive products,

so they don't have to sell as many to win.

We sold a mug. That's quite surprising,

because we haven't sold any so far.

New Minds are away, and it doesn't stop there.

-How much are the mugs?

-Just £2.

New Minds bought each mug for 65p and they're selling them for £2.

That's £1.35 profit each.

Wow, another three mugs sold. That's more than £4 profit.

It's going really well now, cos as soon as we get one person in,

it draws more people in, which is good.

Also, we're charging less than the boys, I think, but the thing is,

I think they might be making more profit than we are.

-Thank you.

-Thank you.

-Bye.

Aspire, you've got exactly one hour left before I close your stall.

-How's it going?

-It's going good.

-What's been your fastest seller?

-The pens, definitely.

The pens and maybe the cubes.

We've bought a box of 36 for about £5,

and we've sold them for £1 each.

-You've still got a lot to shift. Good luck. Keep selling.

-Thank you.

Do you want to come over and have a look?

A really nice purse, only just £2.

OK, girls, you have exactly one hour left.

So what's your strategy from now?

Just go out, sell, we're not going to give up.

We're going to keep pushing until they buy something.

OK. And what's been your best sellers, then?

Definitely the purses and the bags.

And the key rings and magnets.

The small ones. The small items are going really quickly.

Well, OK. So, small items have gone quickly.

You've still got quite a lot to shift in an hour.

Do you think you're going to do it?

-We can do it.

-Yes!

Key rings and magnets at just £1!

New Minds continue to sell well,

but Aspire are now having a tough old time of it.

I Love London mugs and spoons. £3 each.

Doesn't look like we're doing very well,

cos theirs is getting really busy now. And ours isn't.

Souvenirs for loved ones, friends, going home.

And they still haven't sold that expensive teapot.

We can't sell the teapot to anyone.

No-one wants to buy it. I think it was a bad idea.

And I've bought too many key rings.

I don't know.

Put a ribbon on it and everything. Still no-one wants it.

Would you like this teapot?

New Minds are selling those expensive items

faster than hot cakes.

We've sold everything apart from three magnets and the photo frames.

I know, we can't believe it. It's really good.

But Aspire are not giving up yet.

If you done it, we'd be forever grateful.

-£3.

-£3?

-£3.

-Sure?

Another mug sale. Francesco's cheeky sales technique pays off.

He made me feel sorry for him.

I feel bad. They're really confident. They're really good.

It's crunch time.

There's only ten minutes to go, so both teams are picking up the pace.

New Minds are determined to get rid of every last photo frame.

£2.50 for a really good present.

Really unique, good quality, only £2.50.

Key rings!

Francesco has 40 bus key rings left and is desperate to get rid of them.

We had a big crowd all about the key chains,

and two people just went, "Can I get one?"

We're in our last five minutes. We really need some customers.

-Would you mind buying some?

-Just £1.

Those are £1. Those are £2.50.

Really good quality.

-It's all jelly beans.

-You guys are cool.

Only £6.

Because I've seem you, I'm doing it for £6.

No way! Is that what I think it is? Francesco's sold the teapot,

just in time.

Bye!

Stop selling! Your time is over. Can I please have your cash box?

New Minds, stop selling. Can I have your cash box?

'Their selling time is over, but who's taken the most money?'

The winners today could get through to the big New York final,

where they'll compete against another team to be named

Britain's best young traders.

Well, teams, you've had a very busy day selling.

I've brought you somewhere a little bit quieter

so we can find out which team has taken the most money.

But first, what were your highs and lows?

-Michael?

-I think we done really well on the selling.

Even though we've got products left, we got some good prices,

so hopefully it's enough.

OK, and girls, what did you learn about the experience?

It was definitely a great experience. It was much funner than we thought.

I think we learned quite a bit about business,

and also about just being out there,

being really outgoing and getting in there.

I don't think I've ever been that loud before.

I was like screaming my head off asking people to come in.

It did work most of the time.

It's time to reveal the team with the most takings.

New Minds, you took...

..£129.47.

Aspire...

..you took...

-..£151.65!

-THEY CHEER

You're kidding me, seriously?

'I'm feeling great. I honestly thought we were losing.'

I actually didn't think we'd win. I'm really shocked.

OK, happy, but more shocked.

It was a shame for the girls, but I'm chuffed, I really am.

Hopefully we'll get into the top four teams with the most money

so we can get into the semifinal.

I really, really want to get into the semifinal.

I think you still need to be smiling because it was a good result.

Yeah, we're happy. We're fine.

Well done.

High five, everybody!

Well done! Congratulations.

You should be celebrating.

-Thank you.

-Wahey!

So Aspire win, taking £151.65, a £76.75 profit.

So let's look at the leaderboard.

Aspire go into second place, behind Prosperity,

but ahead of Sapphire and Impulse.

Only the four winning teams who take the most money

get through to the semifinals.

The two best will go on to compete in the grand New York final.

But only one team will be named Britain's best young traders.

Next time on Trade Your Way To The USA, our two teams are buying toys.

They'll have to spot the bargains at a boot sale...

Can you do three for £2?

Oh, please.

..before selling them at a busy seaside resort.

Everything 10p!

Thank you.

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