YES Program Brews Opportunity
Four young entrepreneurs from Mount Uniacke were among seven students to receive awards of merit today under the Youth Entrepreneurial Skills program (YES), an initiative of Economic Development and Tourism.
Manning MacDonald, Minister of Economic Development and Tourism, presented the awards at a luncheon at Halifax's World Trade and Convention Centre honouring some of the province's youngest business owners.
The Post Road Tea Room opened for its second season last June, and kept its four teenage proprietors busy all summer. The idea for a tea room originated from a Maritime Studies class project at Windsor Regional High School in 1996. One year later, Morgan Hicks, 15, Mary Middleton, Michael Sponagle and Carrie Donovan, all 16, were again partners in the thriving tea trade.
It all started, Ms. Hicks said, with the Uniacke Estate Museum Park, which is operated by the Nova Scotia Museum. The fact that patrons could not purchase food on the grounds is what got the teenagers thinking.
Originally, they thought about operating a vendor cart on the premises. However, the idea changed to a tea room once they discussed it further, said Ms. Hicks. "We got together and were talking about it and thought it would be kind of a cool idea."
After much consideration, they made a pitch to Nova Scotia Museum members. "I'm sure the museum was pretty sceptical when we first approached them. I mean I was 14 at the time and the others were 15," said Ms. Hicks.
Ms. Middleton said the museum was impressed with the calibre of their presentation. "They said it had the quality of fourth-year university students."
The museum accepted their proposal. Their next step was to find a source of funding that would help get the tea room started. This search led them to the YES program.
YES provides loans to full-time students to set up and operate a business. The program helps participants prepare a business plan and provides business counselling and training. Students must apply to Economic Development and Tourism and may receive a loan of up to $5,000.
The Post Road Tea Room qualified for a loan of $2,000 in 1996, enough to cover startup costs such as tables, chairs and teas. Last summer, the tea room received the same amount and made some improvements.
"We got mugs and cups and cutlery and stuff like that," said Ms. Hicks.
The teenagers enjoyed a banner year, with an average of 100 people passing through the tea room's doors every day and sales reaching $20,000. Ms. Middleton said the business was a success due to increased publicity and regular customers. And, she said, running the tea room was easier the second year because they knew what to expect and what they were supposed to do.
With two years already under their belts, the four entrepreneurs plan to operate the tea room for a few years to come.
Ms. Middleton said the award, for the western Nova Scotia region, is likely to help their bottom line. "This will probably help to boost business even more next year."
YES award winners are selected on the basis of region, loan repayment, consultant reviews, regional development officer reviews, and demonstration of entrepreneurial qualities.