Episode 3 Trade Your Way to the USA


Episode 3

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Transcript


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The search is on for this year's Best Young Traders.

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For months, CBBC has scoured the country, hunting for Britain's

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budding entrepreneurs.

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They need to know how to buy, how to sell

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and how to close the deal, if they want to win the day.

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From more than 2,000 budding young entrepreneurs,

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just 14 teams have made it through to the heats.

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Now they battle it out head-to-head in Trade Your Way To The USA.

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Each team will be given £75 cash and a tough trading challenge.

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They must decide what to buy...

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What's your biggest seller in the whole shop?

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Anything pretty is going to sell.

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-..negotiate the lowest price...

-Six for 1.95.

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-No.

-..and then sell, sell, sell.

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HOOTER BLARES

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High-quality balloons only £1!

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You owe us £1.50.

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-I want the one that says "Ka-pow!"

-OK.

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The team that makes the most money wins the challenge

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and a place on the all-important leaderboard.

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Get in there!

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At the end of the heats, only the top four teams go on

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to fight it out for a place in the grand final...

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Agh! My arm!

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..and the chance to be crowned this year's Best Young Traders.

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The best fudge ever!

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I'm Saira Khan

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and by the age of 25, I had a high-flying career in London.

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Follow my top trading tips,

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and one day you too could trade your way to the USA.

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Trade Your Way To The USA is back with a vengeance.

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Today, some of Britain's most ambitious young traders

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will face the business challenge of a lifetime.

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Time to meet the two teams with the will to win.

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It's Victores vs Profiteroles.

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ALL: We are Profiteroles and we're going to trade our way to the USA!

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Whoooo!

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This Cumbrian trio believe they've got what it takes to win.

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Triathlete Connor is a top trader in training.

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I know the Profiteroles can sprint our way to the finish.

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I'm the loud one and I reel in the customers.

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Used to selling eggs for cash,

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Connie thinks she can scramble her opponents' chance of victory.

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Just like my eggs, I know how to select the best produce to sell.

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Brains behind the team, Alex, thinks he's got what it takes to win.

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All I have to say to the opposition is "checkmate".

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This team is sure their skills will secure success.

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And trading's what we do best.

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But the opposition is ready for a fight.

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ALL: We know how to make money!

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We chose the name Victores, cos it means "winners" in Latin.

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Cos we think we have what it takes to win Trade Your Way To The USA.

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ALL: Come on!

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Scholarly Scouse lasses Rachel, Maisie

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and Rosie have a wealth of trading know-how.

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I've made money through charity fairs in school by selling cakes

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and sweets.

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And the most money we've made is £200.

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Quiet, but lethal when it comes to trading,

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Rachel's got designs on big business.

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I've made money by taking part in events in school

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and I've also earned over £40 by selling old games and CDs online.

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And team organiser Maisie enjoys the sweet smell of success.

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I earn money by selling my perfumes to friends and family

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and I've made almost £200.

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This formidable group of girls are in harmony when it comes to winning.

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# Thanks for the opportunity We will make you go "Wowee!"

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# And if you have faith in us

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# We can win the shoooow, Victores! #

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So it's Profiteroles v Victores,

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but only the team that makes the most money wins today's challenge

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and only they stand a chance of trading their way to the USA

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and becoming Britain's Best Young Traders.

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Today's trading titans have arrived in York,

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one of Britain's oldest trading cities.

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They've no idea what their challenge will be, but they know

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they have to win to stand a chance of competing in our USA grand final.

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Welcome to York.

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In 865AD, the streets of this city were ruled by Vikings.

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Over a thousand years on, and the Vikings will once again

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take to the streets this weekend for the Jorvik Viking Festival,

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as thousands of people come together to celebrate all things Viking.

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Your challenge is to come up with Viking-themed balloons to sell

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to the spectators, negotiate the lowest prices,

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then sell, sell, sell.

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The team that makes the most money wins the challenge.

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Here's your trading fund.

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I've given each £75 to trade with.

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Thank you.

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Teams, are you ready?

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-ALL: Yes!

-Let's go!

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The teams have £75 each to buy their balloons for the battle.

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To win tomorrow means understanding which products to get today.

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Before you start buying,

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you need to understand the product that you're selling.

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So I've brought you here to meet your expert, Shirley Ray.

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Here are your books.

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-Are you ready?

-ALL: Yes!

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Let's go!

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Award-winning Shirley comes from a long line of balloon experts.

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If anyone can show the teams how to turn hot air into hard cash,

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it's her.

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The teams have just 15 minutes to pick Shirley's brains

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about the balloon business. Every question counts.

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What kind of price ranges do you sell yours at?

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Between £1 for the very simple ones up to £10 for the Viking warrior.

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For you to buy it,

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you can buy all of these between about 75p up to £5.

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I'm impressed.

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They've established the retail and the buying price very early on.

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Excellent.

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When you've sold these balloons previously,

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which have been the most popular ones?

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Because they're all pieces of art, they all appeal to different people,

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so it's an individual choice for you.

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Are there any popular combinations?

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Yeah, they probably would like a hat with a sword

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or a shield and a sword or...

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That's a fantastic question about popular combinations.

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What that means is you can sell more than one product to a customer,

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which means more money.

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Is it possible for people to buy the balloons and make them themselves?

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You will be able to buy the kits that you can sell.

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I could teach you to make a simple sword.

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So who's going to be the modeller?

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I'm going to be doing it for this team.

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And I'll be the modeller for the Profiteroles.

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Having the ability to make these balloons will create

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theatre on the day and that will attract customers.

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..twist there, and that's going to be the handle of my sword.

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And then we're going to make the hilt of this sword

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and make another little twist.

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But this is the point that you lock it together,

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so you just twist these two together.

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But that's the making of it. Let the battle commence!

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If I was doing this task, I'd concentrate on buying

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lots of DIY packs, so the customers can make their own balloons at home.

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But I'd also encourage them to buy one from my stall.

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That's two sales, one customer.

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The packs of...

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OK, Victores, so what's your strategy? Rachel?

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Our strategy is to sell a variety of things,

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but we're also going to make some of our own swords

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and we're going to sell packs so people can make their own.

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'Great! They're planning to up their sales by demonstrating

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'the swords and selling the DIY kits.'

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Have you thought about how many products you're going to buy?

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-It's around 56, 57.

-OK, that's pretty ambitious, yeah?

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'The girls want a lot of stock for their cash,

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'so how are Profiteroles doing?'

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So what is your strategy?

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We were thinking about doing a package of the axe, the helmet

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and the shield, so I'd really like that package at a good price.

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'Selling the different designs together is a great way

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'to make more money.'

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And who is going to be the main negotiator?

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We will work as a team, cos we stick together. We have no leader.

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This is all about negotiation,

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it's about getting the best product for the best price.

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Good luck.

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Victores are hoping demonstrations

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and DIY packs will pull the punters to their stall.

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Profiteroles hope selling different designs together

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will score more cash.

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But it's down to who can negotiate the best deals on their balloons.

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This will be the toughest negotiation

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the teams have ever faced.

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If they want to win the trading challenge,

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they need to turn Shirley's balloons into bargains.

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First up, it's Profiteroles.

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Can they work together to secure the best deals?

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So, we'll start off with the axes. 75p.

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Wow, Connor's straight in there with the negotiation. No niceties here.

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75p is too low.

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-90p.

-Meet halfway at 85?

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On the axes, no.

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-95?

-'Great. Profiteroles are working really well as a team.'

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-95, OK.

-OK.

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Next we wanted helmets, and we were going to go for 75 again.

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No. You're looking definitely at £1.

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Are you sure we couldn't meet you halfway at 90?

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Now, this is a proper negotiation.

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They're being assertive without being rude.

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I'm sure we can't meet you at 90.

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95? Again?

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I'm going to let you have them for 95.

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Next, we were looking at the shields. Each one for £1?

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No, definitely.

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I have to tell you that the shields I will not go under £2 at all.

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-TEAM ALL TALK AT ONCE

-Not even 1.95, no.

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Not even 1.99?

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Every penny counts.

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Every penny DOES count, and I will give you that one penny.

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As they say in business, look after the pennies

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and the pounds will look after themselves.

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After getting seven other kinds of balloons,

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I hope they're on top of what they've spent.

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2.75 left.

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If I were you, I'd check your numbers.

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(I don't think I put that in the calculator right.)

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I think Connor might have put something wrong.

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That makes you 40p over your budget.

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'Oh, dear, team, you're going

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'to have to think on your feet here to bring your total back in budget.'

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We've bought ten products, so if we knocked 4p off each buy,

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then we'd be bang on our £75.

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-Cos they're brilliant!

-They are amazing.

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This team is good.

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They know they're 40p over, but instead of trying to give

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a product away, they're trying to get it in for free.

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Well done.

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Flattery gets you everywhere. For 40p...

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-LAUGHTER

-..you can have that off your total.

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ALL: Thank you.

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Thank you!

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Next up, the Victores.

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They know how much stock they want to buy,

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but can they get it for the right price?

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-Hi.

-Hello.

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We'd be interested in buying about ten axes.

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My price would normally be 1.50.

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Well, could you possibly go to £1?

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1.25?

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Um...£1.10?

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-Yeah, I can go to 1.10.

-Thank you.

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'She may be all smiles,

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'but Shirley's not getting much of a negotiation from these girls.'

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The girls are accepting these prices far too easily.

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They need to push back.

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So we are looking at the packs. You sell them for £2.50.

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We're wondering if you let us have it for around £1.20.

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The kits, I could go 1.50.

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Could we possibly have it for £1.45?

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You drive a hard bargain. OK, I'll let you have them for 1.45.

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Thank you.

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'That's better. £1.05 off the asking price.

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'Along with some shields, helmets and Viking figures,

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'their stock is mounting up.

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'I hope they're on top of their numbers.'

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We were looking at one of the packs of 50 balloons,

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and you sell them for £5.

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My actual selling price for the pack of 50 balloons with a pump is £6.

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OK, so could we possibly have that for £5?

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-You can, yes.

-Thank you.

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They've just bought a pack of balloons,

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but no demonstration sword.

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Without that to copy,

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will they remember how to make the swords tomorrow?

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Because you haven't got any of the single swords at all,

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and you're intending to make them,

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perhaps you'd need to spend just a little bit on having that.

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OK, so could you please let us have one of those...

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for £1?

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I'm going to give you two.

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Shirley's really helped them out by giving them

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two demonstration swords.

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That's a lucky escape.

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That's 75.

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Do you want to maybe just calculate what you've spent already?

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OK.

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£5...

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'This negotiation could all fall apart if they're not careful.'

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£75.05.

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Girls, I told you to be on top of your numbers.

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Now you're over budget.

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Could you possibly take 5p away?

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-I'll let you have the 5p.

-ALL: Thank you.

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'Shirley's let them off the 5p they've overspent.

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'That's another lucky escape for the girls.'

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-Thank you.

-Thank you.

-Have a good selling day.

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For their £75, Profiteroles got some great deals,

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including ten each of the helmets, shields and swords,

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which can be sold together for more money.

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They also got five DIY packs and two large Viking figures -

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53 products in total.

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Despite Victores' confusion over numbers, for their £75,

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they got 55 products - almost as many as they had planned.

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This included ten helmets and seven DIY packs,

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plus two demonstration swords to help them model the balloons.

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Tomorrow, only one team can be the high-flyers.

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The others will leave deflated.

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Today, Victores go head-to-head with Profiteroles.

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Both will do anything to win

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and get the chance to compete

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in our Trade Your Way To The USA grand final.

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The team who makes the most money today is one step closer

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to becoming Britain's Best Young Traders.

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Victores and Profiteroles have arrived

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in the ancient city of York, ready to sell balloons.

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But whose bubble is going to burst?

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Good morning, Profiteroles, good morning, Victores.

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Today, thousands of people will visit York

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to celebrate everything Viking.

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You have just two hours to sell them your Viking-themed balloons.

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The team that makes the most money wins today's challenge,

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and only they stand a chance of trading their way to the USA

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and becoming Britain's best young traders.

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-Are you ready?

-ALL: Yes.

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Let's set up the stalls.

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The teams need to get ready.

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Every sale will get them one step closer to the USA.

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What are your prices?

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£3.50.

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-£3.50.

-£3.50.

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So this is £3.50?

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How much did you pay for these?

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£1.99 each.

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OK, and you're selling them for £3.50?

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'In business, your prices need to reflect what you paid.

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'Get your mark-up wrong, and you could go bust.'

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We're selling the helmet and shield at the same price,

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but it cost us more to get the shields.

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So we should put prices up.

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So, how are Victores getting on?

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Short sword is £1.50.

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We need to start making some.

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'Good idea, girls.

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'Get plenty of your amazing balloons made to show what you're selling.'

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-How much are you selling the big sword for?

-£3.

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-What about these swords?

-Just £1.50.

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'That's lower than Profiteroles.

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'They must keep on top of their numbers today if they want to win.'

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It's time for the balloon battle to begin.

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Teams, are you ready?

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ALL: Yes!

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-Erik, are you ready?

-Yarr!

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Three, two, one, start selling!

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BLOWS HORN

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'Straightaway, Rosie heads out into the crowds.'

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Hey, guys. Does anyone want to buy anything? We've got axes, swords.

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'While back on Victores' stall,

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'their balloons are already attracting the customers.'

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Thank you!

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The thing about demonstration is it creates theatre to your stall,

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attracts customers, and then they're likely to buy.

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Thank you!

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They've got customers waiting.

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Could we have them there?

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Yeah, it's £8.

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There you go.

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'Great work, girls. That's £8 for your cash box.'

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'20 metres away, are Profiteroles living up to their name?'

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They've got everyone now.

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'It looks like they need to take a leaf out of

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'their competition's book and draw some attention to the stall.'

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Ladies and gentlemen, prepare to be amazed!

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High-quality balloons for sale today.

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Well done, Connie!

0:18:570:18:59

'In business, if no-one is looking at your products,

0:18:590:19:01

'do what it takes to bring people over.'

0:19:010:19:03

-£10.

-I'll have one of them.

0:19:030:19:06

We just sold one of the big ones straightaway.

0:19:060:19:09

He just came and said, "How much are these? OK, I'll have one."

0:19:090:19:11

'That's £10 in one hit, a great sale for Profiteroles.

0:19:110:19:15

'Nearby, the girls have a steady stream of customers.'

0:19:170:19:21

That's £4 change.

0:19:210:19:22

£6 change.

0:19:220:19:25

Sorry!

0:19:250:19:26

'But the numbers seem to be getting on top of them again.'

0:19:260:19:29

What's £3.25 add £2.75?

0:19:290:19:32

Is it £6?

0:19:320:19:35

I think that should be the right change.

0:19:350:19:38

Girls, you need to give the right change to the customers.

0:19:380:19:41

Otherwise, this is going to end in chaos.

0:19:410:19:44

You know your pricing?

0:19:440:19:46

You've got like 25p and 75p.

0:19:460:19:49

That's causing you a change situation.

0:19:490:19:51

Too much change to the customer means what for you?

0:19:510:19:53

We're losing money.

0:19:530:19:55

So how are you going to make it easier for yourself?

0:19:550:19:57

Round it up to the nearest pound.

0:19:570:19:59

I think that's a better idea.

0:19:590:20:00

Would you like two of the same sort?

0:20:000:20:02

OK, so that's £6, please, and I'll just give you your change.

0:20:020:20:05

'Phew! No confusion there,

0:20:050:20:07

'that's another £6 for your cash box.

0:20:070:20:10

'It's halfway through, and over at Profiteroles' stall...'

0:20:100:20:14

CONNOR SCREAMS

0:20:140:20:15

'..Connor and Connie are selling hard.'

0:20:150:20:17

I challenge thee!

0:20:170:20:19

To be a great salesperson, you've got to become a character.

0:20:200:20:24

Wear the hat, hold the sword, become a Viking!

0:20:240:20:27

Get those customers to buy from you!

0:20:270:20:29

Great demonstration, by the way.

0:20:290:20:31

Thank you.

0:20:310:20:32

'But not every Profiterole is getting into the fighting spirit.'

0:20:320:20:35

Connie, just go out and shout.

0:20:350:20:36

I don't really like going out and shouting.

0:20:360:20:39

That's Connie's job.

0:20:390:20:40

'But in this trading challenge, it's got to be all hands on deck

0:20:400:20:44

'if you want to stand a chance of winning.'

0:20:440:20:46

-You're uncomfortable about selling, aren't you?

-No.

0:20:460:20:49

I'm happy to sell on the stall,

0:20:520:20:54

I'm just not so confident going out and about.

0:20:540:20:57

This whole experience is about learning a new skill

0:20:570:21:00

and putting your hand at something you've never done before.

0:21:000:21:02

So why don't you have a go? You might actually really enjoy it.

0:21:020:21:06

Would you like to buy any balloons?

0:21:070:21:09

We've got our flails.

0:21:090:21:11

We've even got a Viking buddy.

0:21:110:21:13

I'm really proud of Alex.

0:21:130:21:15

It's not easy selling,

0:21:150:21:16

and if it's something that you don't enjoy, it can be quite frightening.

0:21:160:21:20

But he's having a go and he sold.

0:21:200:21:22

Well done.

0:21:220:21:23

I feel little more confident coming out now, yeah.

0:21:230:21:26

Hi, would you like to buy a balloon?

0:21:260:21:28

We've got like flails and everything.

0:21:280:21:30

'I spy someone else who needs to perfect their battle cry.'

0:21:300:21:34

Would you like to buy a balloon?

0:21:340:21:36

'Victores may have got off to a good start,

0:21:360:21:39

'but they seem to have run out of puff.'

0:21:390:21:40

Shall I show you how to really demonstrate your products?

0:21:420:21:46

-OK.

-Get it on.

0:21:460:21:48

Give me a sword.

0:21:480:21:49

Come and buy these fantastic things from me!

0:21:490:21:52

Would you like one? They're all for sale here, only available today.

0:21:520:21:56

So I'd now like you to do the same, please.

0:21:560:21:59

The hats, £2.50, and the swords, £3.

0:21:590:22:04

-Come and buy from me!

-Come buy from me!

-Woo-hoo!

0:22:040:22:07

Would you like to come and buy one?

0:22:070:22:10

-Would you like a helmet?

-Do you want a helmet?

-Yeah.

0:22:100:22:13

We'll take two helmets.

0:22:130:22:14

-OK.

-Thank you.

-Thank you.

0:22:140:22:17

'Brilliant! Selling with confidence has got you £6.'

0:22:170:22:20

Would you like to have it?

0:22:220:22:24

Yeah, yeah, yeah, yeah.

0:22:240:22:25

Maisie has just turned into a completely different person.

0:22:250:22:29

She's got a voice and she's using it to sell!

0:22:290:22:33

Come on!

0:22:330:22:34

'30 minutes left, and both teams are selling well.'

0:22:340:22:38

The hats are £2.

0:22:380:22:39

I'll have a hat, then, please.

0:22:390:22:40

Thank you.

0:22:400:22:42

In fact, Profiteroles are selling so well,

0:22:420:22:45

they've got a controversial business idea.

0:22:450:22:47

Possibly thinking about putting our prices up a little,

0:22:470:22:50

just whisper that.

0:22:500:22:52

'With the other team just metres away, this is a risky strategy.'

0:22:520:22:56

How much are the DIY packs?

0:22:560:22:58

They are £5.

0:22:580:23:00

We're just going to go and have a look over there

0:23:000:23:02

and see what they're doing, then we'll make a decision.

0:23:020:23:04

Profiteroles have just let a family of four walk to the other side

0:23:040:23:08

to check out the competition.

0:23:080:23:09

What I would've done is given a package and a deal to keep them.

0:23:090:23:13

Profiteroles' higher prices are losing them sales

0:23:130:23:16

all over the festival.

0:23:160:23:17

Which one is best out of the two?

0:23:170:23:20

Theirs is much more expensive.

0:23:200:23:22

Do you want to come and check out our stall? Let's go.

0:23:220:23:25

'Seeing the competition's prices and with a lot of stock left to shift,

0:23:250:23:29

'Profiteroles need to change their strategy, fast.'

0:23:290:23:32

They are selling some of the swords for £1.50, so we've used that,

0:23:320:23:37

we're selling them for £1.

0:23:370:23:39

The prices are plummeting quite fast now.

0:23:390:23:41

High-quality balloons, only £1!

0:23:410:23:43

Anyone want any balloons?

0:23:430:23:45

All £1, over here!

0:23:450:23:46

Thank you very much.

0:23:460:23:48

Any balloon just £1.

0:23:480:23:50

'Well done, Profiteroles.

0:23:500:23:51

'Your lower prices have got you £5.

0:23:510:23:54

'With just minutes left...'

0:23:550:23:57

You better not pop this balloon or you owe us £1.50.

0:23:570:24:01

'..both teams' stock is running out fast.

0:24:010:24:04

'Every sale counts.'

0:24:040:24:06

Just £1! Alex, get the money back in the till!

0:24:060:24:09

Go, go, go!

0:24:090:24:11

It's only £3.25.

0:24:110:24:12

One pack, and this one.

0:24:120:24:15

It was £17.75 and it was our biggest sale.

0:24:170:24:20

'With a minute left, both teams are selling package deals

0:24:200:24:23

'to clear their stock. Good work.'

0:24:230:24:26

Do you want to try it on? We can give you a discount.

0:24:260:24:28

£1.

0:24:280:24:30

You've conned me!

0:24:300:24:31

Ten, nine, eight,

0:24:310:24:34

seven, six, five,

0:24:340:24:37

four, three, two, one.

0:24:370:24:41

Stop selling.

0:24:410:24:43

Erik!

0:24:430:24:44

BLOWS HORN

0:24:440:24:46

Victores, can I have your cash tin, please?

0:24:480:24:52

-Good luck.

-Thank you.

0:24:520:24:54

Profiteroles, please can I have your cash tin?

0:24:540:24:57

Good luck.

0:25:000:25:01

'They gave it everything they've got, but only one team can win.

0:25:070:25:12

'Is it Victores or Profiteroles who've made the most money

0:25:120:25:16

'and are in with a chance of trading their way to the USA?'

0:25:160:25:21

We're standing in the Merchant Adventurers' Hall in York,

0:25:210:25:24

where business has been carried out for the last 650 years.

0:25:240:25:28

I've been watching both teams very closely for the last two days,

0:25:280:25:32

and I have to say, I've been very impressed with what I've seen.

0:25:320:25:35

Over 2,000 young traders applied to be in your position.

0:25:350:25:39

Only 14 teams made it through this far.

0:25:390:25:42

You should be very proud of yourselves.

0:25:420:25:45

The team that makes the most money today wins the challenge,

0:25:450:25:48

and only they stand a chance of trading their way to the USA

0:25:480:25:52

and becoming Britain's Best Young Traders.

0:25:520:25:55

The cash has been counted.

0:25:550:25:57

Profiteroles, you took...

0:25:590:26:02

..£163.80.

0:26:040:26:08

Victores, you took...

0:26:120:26:14

..£176.65!

0:26:210:26:24

Congratulations, you're today's winners!

0:26:240:26:26

I actually can't believe we did it.

0:26:290:26:31

I'm just so excited.

0:26:310:26:33

They deserved to win. We both got quite high ones,

0:26:330:26:36

and I'm looking forward to seeing them if they get into the semis.

0:26:360:26:39

It means the world to me.

0:26:390:26:40

So happy.

0:26:420:26:43

We definitely give it our all today.

0:26:440:26:47

Couldn't really have done much more.

0:26:470:26:48

Congratulations, Victores, that earns you a place

0:26:480:26:52

on our leaderboard and the chance of going through to our grand final.

0:26:520:26:57

Victores' £176.65 puts them at the top of the leaderboard,

0:26:570:27:02

knocking Team Sterling and Top Dogs down.

0:27:020:27:05

But will it be enough to keep them there?

0:27:050:27:08

Because only the 14 that make the most money go on to fight it out.

0:27:080:27:13

In business, there are times

0:27:130:27:15

when you have the opportunity to learn a new skill.

0:27:150:27:18

That can be a bit frightening.

0:27:180:27:20

But if you're willing to have a go and run with it,

0:27:200:27:23

you'll soon see that having a new skill can pay off.

0:27:230:27:26

That's exactly what our winning team did today,

0:27:260:27:29

and it's well worth remembering

0:27:290:27:31

if you want to Trade Your Way To The USA.

0:27:310:27:33

Next time on Trade Your Way To The USA, two more teams do battle.

0:27:350:27:40

-That comes to £75, does it?

-Somewhere around there.

0:27:400:27:43

Fresh meat!

0:27:430:27:45

Hand-made in Yorkshire!

0:27:450:27:47

Come and buy my sausages!

0:27:470:27:49

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0:28:030:28:06

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