Winning students take olive oil business mainstream
Manurewa High School Year 13 students who this week won a national business competition plan to get their olive oil product into Nosh shops next year.
Caring & Co beat 19 other teams to win the Lion Foundation Young Enterprise Company of the Year for its Unique Drizzle olive oil.
Company managing director, 17-year-old Lar Su'a, told NBR ONLINE the company sold 300 bottles at $20 a piece, raking in $6000.
"We sold out, so we're really happy with that."
Three thousand students a year take part in the Young Enterprise Scheme – run by the Young Enterprise Trust – in which they form a company, research and write a business plan and bring their product to the market.
Mr Su'a says the company will continue to operate with his four fellow students – Ryan King, Kulgan Flynn, Kayla Picknell and Guang Liu Chu – staying on as directors.
"We'll be tripling our stock of Unique Drizzle next year, and also launching a honey product called Unique Buzz.
"We will also have our products on the shelves at Nosh supermarkets next year," Mr Su'a says.
The extra virgin olive oil is made on Waiheke Island by Azzuro Groves.
Caring & Co did not retain any profits this year, instead donating the money it made to the Life Education Trust.
In return, Life Education gave the company access to its database of 200,000 names to help it market the product.
"We will continue to market through Life Education Trust next year," Mr Su'a says.
The company will still donate money to Life Education, but all five directors will also be taking a cut of the profits.
Mr Su'a will continue to manage the company while studying business at university.
"We will continue with just the five of us working together next year.
"But if Unique Drizzle turns out to be a massive success, we plan on expansion."