For a second year in a row, Britannia Secondary came out on top in the Junior Achievement of British Columbia CIBC Student Company of the Year competition. Students at Britannia worked hard to create the student company "Raincouver" to market umbrellas to the weather weary citizens of East Van.
"I was really shocked to find out we had won the 2012 CIBC Student Company of the Year. I was not expecting it because it's very rare that the same company would win the Student Company of the Year award for two consecutive years," said Sally Zhao, the president of Raincouver. "I was really happy and felt that the hard work the executive members and I put in doing the business plan and final report really did pay off."
Business club and Raincouver executive member Corey Wong had always hoped it would "rain money", but says it was a challenge from the get go to figure out what their club's competetive edge would be. At the end of the day, he credits the raindrop design and word-jumble logo that set their product apart.
"I feel that the level of creativity and originality in developing our design, our effective marketing strategy, effective communication and cooperation among company members, and overall company determination and spirit placed our company in a strong position to win the award," says Wong.
After designing a special logo, producing, marketing and selling the umbrellas, Raincouver walked away with a $1,300 profit. They decided to give back $500 to local charities CLICK and A Loving Spoonfull.
The school's company involved 30 secondary students and volunteer advisors James Atherton from Great West Life, Paula Garcia from CIBC and sponsor teachers Lee Nipp and Ksena Tatomir from Britannia.
Raincouver won because they reached all their goals, selling out their entire product lines of 250 umbrellas and achieving an ROI of 102% for their shareholders.
Sponsor teacher Lee Nipp says the win is all the more impressive considering the challenges some of the students faced growing up. With graduation coming up this Tuesday, Nipp says many of his students will be going on to post-secondary schools like UBC's Sauder Business School.