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My son has been given £1 to "grow" as a fundraising exercise.
Some example ideas enclosed with the quid are to purchase cake baking materials, bake the cakes, then sell them to make more money, buy more cake baking stuff ad nauseum [sic - from eating all those cakes!] .
I was thinking, with the panoply of cryptocurrencies etc is there any way to buy £1's worth of a Bitcoin, or something massively volatile so it'll appreciably increase in a couple of months?
Or should we just go back to M&D forgetting about it and having to stuff a tenner in at the last minute?
Get a shopping trolley, stand near the Q and offer assistance for £1 to someone shopping. You get their £1 and eventually..... you're rich
Buy a sponge. Wash cars.
I assume that this is at school or something? Get him to persuade all the participants to give him their £1s to pool into a collective investment. He'll end up with all the money, they'll have nothing, he wins.
There's a lesson in there about capitalism. Or socialism. Or banks. Or something.
Spend it on a stamp and write to someone rich and ask for a donation?
put it all on black.
bought the scratch cards for my son when he did similar, although he had £5 to spend. Made quite a bit if I remember.
Problem with making cakes is the extras electric/gas the utensils etc do they come out of the £?
As with any investment, the first question to ask is what do you want from it?
Put it in a fruit machine.
Lottery scratchcard.
Problem with making cakes is the extras electric/gas the utensils etc do they come out of the £?
Don't need to. With a £1, he can buy £1 worth of ingredients, and for nothing he could write a plan on a piece of paper to show his dad how those ingredients will be turned into £2.50 worth of cakes, from which he'll then give his Dad 20% to cover the use of gas and utensils
Dad will agree, execute the plan, and son now has £2 to spend on ingredients, which he can then turn into £5 worth of cake, which he can then use to buy £4 of ingredients (after fees) and convert into £10 of cake, and so on.......
Fat cat Dad keeps creaming off 20% as well as eventually getting a huge pile of cake when son's business reaches Kipling proportions and supply outstrips demand, and he's forced to give away excess stock to avoid exorbitant warehousing fees.
Edit - if you can double your pound nine times, you'll have £1024. Twenty times, it'll now be worth over a million.
Go to poundshop buy a 100g box of maltesers, go to cinema sell box for what they sell them for, 3 quid maybe.
Spend it on a stamp and write to someone rich and ask for a donation?
Buy some paperclips
Hmmm.....
Set up a blog, buy an item for £1 and sell it on the site at a profit / trade for something else until the investment has grown. Obviously this scheme would need to have some good social media action around it to gain traction.
Buy penny chews (or however much they are now) and sell at the school gate. Pump profits back into more penny chews.
Buy n Sell for a profit.
browse charity shops for a bargain, sell on Ebay!
Clothes would be a good one, suit jackets & jeans but £1 is limiting.
Is it possible to buy cake baking materials for £1?
Is it possible to buy cake baking materials for £1?
It might not be possible to buy cake making materials for £1, but possible to make a cake using £1 worth of ingredients. Eg, Tesco do a 15-pack of eggs for £1.19 - so for a cake requiring two eggs will cost 16p. I see no reason why the OP can't act as a reseller between the supermarket and his son.
Is it possible to buy cake baking materials for £1?
Aye I was thinking the wee yin needs to go back to the tight fisted investors and demand more investment! 😆
You can buy s few baby tomato plants for £1. Plant them in some rich soil in a sunny spot and watch his investment grow....literally.
A few few other lessons in there too.
Buy a sponge. Wash cars.
Something like this is the one that makes most economic sense as he would be using it to give him the tools (well, a sponge) to leverage his labour in the name of creating a marketable service.
Or cheat and act as an angel investor who's been approached for a loan (with a deposit of £1) based on a business plan (mowing lawns) with a months deferred payment on the leasing costs of equipment (family mower). Depends on his age for suitability, but potential for earning really is there. I used to do a few lawns in the village and a tenner a pop goes a long way when you're 14 - well it did!
Buy a sponge. Wash cars.
On reflection, not a great idea.
The market's saturated. 😉
Nonsense, he could really clean up
The very idea is full of holes.
It's a great idea but some other kid's already beaten him to it.
Suds Law.
johndoh
Buy penny chews (or however much they are now) and sell at the school gate. Pump profits back into more penny chews.
Based on what happened the last time I mentioned sweets and schools, I think I'll steer well clear of that one! ;-P
Buy a packet of paracetamol, sell individually in playground as disco biscuits. He'd get loaded*
*And probably arrested.
Teach a man to fish, or something like that.
Can of coke, fishing line and a fish hook 😉 catch something and it's a bonus
Beaten to it 🙁
Lend the pound to another child who desperately needs it in the short term. Charge an extortionate interest rate for said loan. Something like 999.99% seems about right.
Tell him to buy something consumable that he'll enjoy and use it.
I think there's a much more valuable life lessons in that.
Buy a first class stamp. It'll probably double in value in the next couple 9f years
Buy seeds - see business b(l)oom
First step is a quid’s worth of sweets, a multipack of something. Sell them individually to make a small profit, use that profit to buy your cake making materials.
How many flapjacks could you sell to mountain bikers in a trail centre car park?
Seeds for the win. Flower seeds, plant them, sell flowers. Or tomatoes, as mentioned earlier. So little effort even a kid can pull it off.
Another one, popcorn is high markup.
Buy hat
Sit on street corner
Beg for loose change.
Change the £1 for a load of pennies.
Make razor blades.
Sell to hipsters
http://news.bbc.co.uk/1/hi/world/south_asia/6766563.stm
Change the £1 for a load of pennies.
Make razor blades.
Sell to hipsters
tis a fair point, how much is the metal in a 1p coin actually worth? Have I just sussed out my retirement plan? 😆
More value in 2p's I guess! 😆
ahhh bugger! 😆
he adage "take care of the pennies and the pounds will take care of themselves" is truer than ever after soaring copper prices have inflated the values of 2p and 1p pieces.
As international markets registered an all-time high for copper, the scrap value of coins in your pocket could now be worth 50 per cent more than their face value.
But before anyone cracks open their piggy banks and rushes to the nearest smelting works, a few words of caution. This phenomenon applies only to 2p and 1p pieces minted before 1992 when each coin contained 97 per cent copper. The Royal Mint, perhaps anticipating rises in the metals normally used, switched to copper-plated steel. This explains why some "coppers" are magnetic and others not.
Kids near us were waiting on the grass outside country pub waiting for punters to buy 'bag of wild garlic?* Only 20p '
*currently in bloom 🤔
Feed the birds Or donkeys.