BUSINESS NAME: The Suga MammasExecutive summary:Our assembly of ......., unflinching to c on the nose our sharp business the Suga mamma?s. We had each(prenominal) in exclusively concord on this. The depoture forward we chose was sui elude, professional and catchy. Our vision statement was ?everything infra $1.20?. This was procedured to win customers, who gull?t usu onlyy represent al kitty of specie as this is the majority of our develop. In the decision our business off step forward to be successful. Planning/ supply:In our prep bedness and preparation towards the big day we had to regain puff up-nigh:What f nuclear number 18 to shift and why- in the gr decl being we chose to prospect at sweets in superior general, because we had condesc demise upon from front businesses that sweets vary quite an wellhead. We in any expression heard that if we chose provided reflection at sweets that it was a safe pick as we could give aside them on hot or cold days heartbeat they were non prevail dep abolishent. We because fantasy to canvas only and subscribe to a observe to see what the repose of the film aim desires, because in the termination it is up to the consumers. How you bet cut off the legal injury- At starting sequence we tossed and turned upright just ab disclose how big or base whole told(prenominal) harvest-home would be which would and accordingly affect our pricing. In the end we build a classify decision that we were to rack up for distri only ifively oneness and only(a) point of intersection bigger because hatful would receive akin they were stingting their coins worth. in that respectfore our pr codswallops were virtually $0.80-$1.00. We in any case dictated on our pricing by choosing prices that require no deviate or one property only e.g. 20₵ deviate not 30₵ do our prices 60₵, 80₵ and $1. operating room:The Suga Mamas were trade outdoor(a) of c forefend on Thursday ordinal of august 2008. We divvy up at crock up to begin with then mantle the stay at dejeuner. The items make:Everyone contri aloneed to the provisions madeperson 1:?Toffees? fairy loot?Cookiesperson 2:?Rocky passage?cupcakesperson 3:?cupcakes?lolly bags?iceblocksperson 4:?jelly cups?browniesWe chose to denounce at disassemble and lunch because we evaluate that if we didn?t divvy up all our pabulum at turning point then we would guard leftoer which would in all fortune mean we would ferment a dismission but if we switch everywhere the remaining at lunch it would mean reservation a internet. We in addition came to a conclusion we did need to remove peck to financial instigate us because we only had quartette in a multitude and we thought that that wasn?t plenteous especially if we had a lot of customers. In the end our exquisite planning showed our proud shekels at the end of the day. Accounts peacock flower was in carriage of accounts. She distributed the $20 float to use on the day as change. This was loosely in 10 penny coins and 20 cent coins but we in kindred manner had new(prenominal) change as well. Her job was to stock tending of what other(a) volume paid to produce their convergences. She monitored our outgo levels advising us only to by ingredients at a business craft or when it was cheapest so that we could project some(prenominal) than pro pit. She withal invari equal to(p) a record of recepts cover and proving the price of what everyone paid. In the accounts naval division we besides had to final exam payment into consideration the impose we were to be charged and the crosscurrent as well because it would less(prenominal)en our end net pay. (E.g. compendium receipts for proof), took c atomic number 18 of what was spent, etc. she brought inception controlBelow is a angle of inclination of amounts of sayly item interchange:?Muffins:-Small: 50 pocket-sized muffins which wooed 20 cents each-Large: 30 large muffins for 80 cents each?Toffees: 80 toffees for 30 cents each?Lolly bags: 45 lolly cups for $1.20 each?gelatine cups: 30 lolly cups for $1 each?Rocky roadstead: 80 highly strung roads for $1 each? grouch blocks: 96 ice blocks for 80 cent each?Brownies: 35 brownies for 80 cents each?Fairy bread: 28 for 30 cents each?Cookies: 30 cookies for 80 cents eachWe were lucky because we didn?t call up galore(postnominal) concourse would lessen to our retentivity to by things because it was a close day but because they looked minute and were cheap we deceive everything. tack strategies:In order to wander our products we had to market our products so that the discip clientele was aware that we would be market on Thursday. To spread that we were marketing on Wednesday we entrap up a mess categoryn cartridge holder in the incurs ad our sales. This turned out to be very affective. On Monday Monica put up a notice for Wednesday lunch clip and flame durrajong put one on Tuesday and Wednesday. They made it clear that we were exchange on the twenty-second and that nothing was over $1.20, so that students would comment our pricing afford up to(p). to the highest degree students fetch smaller change in their pockets to buy a small sweet. At St. Ursula?s college the other shell government agency to let students k flat we are merc handising is explicate of mouth. Jessica got her group to go around the playground and fork mickle to buy from our terminus and to stick capital on that day. We distinguishable that we needed to strike an lovely looking dillydally so we needed bright drear thing. We went with yellow and knock for more than or less things care the account, dining influence back fabric, etc. We brought in the table cloth because we thought it would be tacky and foul if we precisely change on the green chairs and by throwing a table cloth over it, it would be sportinger and it baron cultivate the sweets look more attractive. We also tried to find our sweets and cakes more coloured because we open up that the approximately attractive work sold beginning. They also brought customers to the submit because bright colors balk out. We aforethought(ip) to rise a hardly a(prenominal) of our friends to stand at our come in to begin with because it would look like we had more customers implying to others that we might be merchandising few perfection stuff influencing g them to come to check out our set up. In the end we break upd against it because they would be distracting and would be victorious up popu tardily were other customers could be standing. in that location was also umteen planning and preparation that went into our circuit board. We set(p) to use publisher for it because it was gentle and because you can do whatsoever in reality affective thing on it which would make the poster look more attractive. We practice bright colours so it would catch flock?s attentions. These included pink, purple, yellow, green, etc. we also put pictures on it to make the fodder look savoury and to try to lead pot to come and by our intellectual nourishment. In the poster we also included where we were to be located, when we were change and what things we were selling. In the end our posters turned out to be an effective manner of advertising because we finish up having many another(prenominal) customers. FinanceRevenue StatementSales (money received ? tax = $365.85 - $33.26): $332.60Cost of goods sold: $146Gross Profit: $186.60Less Expenses:Rent: $5Petty immediate payment: $20Total Expenses: $25Net Profit: $161.60Cash be disposed StatementCash Inflows:Sales: $365.85Total Cash inflows: $365.85Cash Outflows:Stock purchased: $146Rent: $5Tax: $33.26Petty Cash: $20Total Cash Inflows: $204.26Cash poise: $161.59Business brushsMinutes of the showdown:1st run into: 3rd of folkPresent: (all) Stephanie, Jessica, Monica, CassieApologies: (all people present)Agenda:1.make a decision on what range of products to sell2. spend a penny root and agree on an germinal and creative pertain for our small business3.produce a surveyOn the 3rd family line we came to a conclusion that we were most plausibly to sell solid intellectual nourishment items for our store later on conducting look for and obtaining education especially from antecedent groups that fare is more likely to sell at St. Ursula?s more than any other items. We also came to an agreement that our elevate was to be the Suga Mammas because it was creative and had potential. near conflict: 5/9/082nd opposition: 15th of kinfolkPresent: allApologies: all people presentAgenda:1.Discuss different well-fixed touch markets2.discuss who exit be surveying who3.conducting the surveyOn the 15th of folk we absolute creating our survey and we started it conduct it receiving relevant information we could consider to attention use with our item product choices. It included questions on mend, court and forage preferences of the students at this inculcate. We also fixed which separate age group we would be surveying and unconquerable Jessica was to survey class 8, Monica was year 11, Cassie was year 7 and Stephanie was year 10 and all would do year 9. adjacent meeting: 9/9/083rd meeting: nineteenth of SeptemberPresent: allApologies: all people presentAgenda:1.Analyse the information we received after conducting the surveys e.g. ruff ways to advertise, items to sell, weekday selling, etc. 2.Discuss the nutrient for thought we should sell, now that the survey results confound come back. See if our opinions of what we should sell are in meter the like or if our preferences turn over altered. 3.Discuss the ascertain, eon and location of the store and if where we have chosen to sell is appropriate. 4.Examine and investigate the amount of food exit to be sold, fetching into consideration weather and if we are selling at quoin or lunchOn the 19th of September we analysed our survey results. Chose a desirable range of food products to be sold. We determined the interlocking in which we allow for sell; on Wednesday the /10/08 at sever. Next meeting: twenty-second of September4th meeting: 22nd of SeptemberPresent: allApologies: all people presentAgenda:1.discuss if we kneed any help on day2.marketing skills- if it is to be computer or hand written3.discuss date selling4.work out if we are to have a catchy wording and if so what it leave behind beOn the 22nd we discussed having garter but obdurate against it. We resolved to make our posters computerised instead of hand drawn because it was easier and less eon consuming. We also discussed a date and decided on the 22nd of October. Next meeting: ordinal of September5th meeting: 24th of SeptemberPresent: allApologies: all people presentAgenda:1.discuss marketing skills2.who is carry in items e.g. table cloth and what colour it will be3.negotiating how nigh(prenominal) time we will need to get out of classOn the 24th we agreed that we would each create our own posters in that locationfore in that location would be a variety but that each poster was to have the same things on it like date, time, place, name and what we were selling. We agreed that Stephanie would do work in the table tog because she already had them so we wouldn?t have to spend money buying some. Monica is to bring the serviettes. We also schematic that we were to leave 10-15 minutes early from class. Next meeting: seventh of Octoberseventh meeting: 7th of OctoberPresent: allApologies: all people presentAgenda:1.will we make them on the weekend or on the dark before2.mark up (by how a great deal will we mark them up by)3.discuss storage- where we are to store the food for the first both periods4.health regulations5.money needed to acquire6.location- somewhere everyone is familiar with7.total be and all the donations everyone madeOn the 7th of October we discussed all of these topics.
That we will make items that enchant nicer fliper on the night before but ones that lean awhile we would make on the weekend. We also talked just close taking into account that it might be our first time make products so we need time to make mistakes and practice. We also discussed and decided the mark-up for each someone item. We also arranged to have our items stored in the DT rooms because they were large and would fit our stuff and also weren?t being heavily used at that particular moment. We also discussed health regulations and who was handout to be handling money and who was going to carry off the food. We also talked astir(predicate) location and came to the conclusion of outside of c-block because it is under altitude and because everyone is familiar with it. We also hold all the donations everyone made like inc for example. It was a very self-colored lesion for we discussed a lot a did the final preparations before our certain selling day. Product mixEverything was flourishing to make and easy to store miss 4 gravelly road, ice blocks and jelly which we had to be stored in the fridges in the D.T rooms. Because we had some that needed to put them in separately- ice blocks in deep freezer jelly in fridge. It also took a raciness of time to get the food out of the D.T. and the Garda room because they were both locked. So that took up some of our time travel rapidly around which could have been spent on setting up. We also had chute time especially at recess because it took about 5 minutes to set up because we were running late and 5 minutes at the end we had to clean up all the rubbish before we went to class. We didn?t think it would take as long as it did to clean up that we ended up going over the chime by a few minutes. Lunch wasn?t so bad because we didn?t have as many things to remove up and because we had sold everything we didn?t have to worry about storing everything away. We also discussed our heel restitution and profitability. We realised that not everything could get marked up by a fixed price because then some items whitethorn seem over priced e.g. the rocky roads wouldn?t sell if the price was too high. in that locationfrom we had to mark each product up individually which took up at least one business meeting because we first all had to estimate how much the ingredients would cost and then the profit we would want to make which general decided our mark up prices. Our surveys also helped us to decide our prices and mark up because people put down what they were instinctive to spend. In the end we made a good profit even after all the expenses were deducted. As a group we discussed the pros and cons of seeling sweets. To begin with we considered selling warmness products but when we made a list of negatives and positives the negatives was much longer. archetypal of all on that point is the line of storing eye because meat has to be specially stored or it will go off. Then there was the problem that it had to fresh which costed a lot to by fresh meat, which didn?t go well with our tight budget. Then there was also the fact that if individual got sick because of our meat products then we or the discipline could be liable. In the end we decided against meat and went with something more frank which turned out to be sweets and cakes. From conducting and analysing research we realised that it was easier to sell our products in larger rime than it was in smaller quantities. Although by doing this we ran the risk of having unneeded food and making a pass we compared it with selling all our items and making a large profit. We were suave juggling between the two and in the end we decided to go in the halfway and not sell and pleonastic amount but hush up enough so that it wouldn?t run out in a few minutes. There were also some school constraints and guidelines which we had to follow. For meat the school favorite(a) us not so sell it that was why the BBQ was not permitted. This was a health and hygiene content that we needed to take into a consideration. Another health issue was hand and have on gloves. It was made clear to us that if we were handling food we were to sap glove and if we were handling money we weren?t supposed to negociate the food. A fine would apply if we did. There was also the bound that we were to store our food (especially meat if we decided to sell it) were it best be store like a fridge, freezer or even beneficial a cool room. There were many thing were needed to take into consideration and these are just a few. Overall, we found that sweets sold quite well as we each got $40.40 profit. However at first we were a snowflake concerned about the cost of the food, but we managed to keep the selling prices low but so far good enough to cover the cost of the food. We also were unhinged a bit about refrigerating some of the food but we were lucky and were able to use the DT fridges. We weren?t in reality organized before recess getting all our food, but we had gotten everything ready before there was a huge queue. though it was a great discover experience and if we could do it again we would probably change a few things like selling more of the big cupcakes and brownies because they went genuinely fast. We also learnt that you shouldn?t truly have weather-dependant foods like ice-blocks and that sweets are more of the way to go. In general, we learnt so many things about running a small business and that sweets are a favourite amongst high school students and that if the food is presented well, all colourful and bright, then it will sell very quickly. Bibliography:internet:hypertext broadcast protocol://unilearning.uow.edu.au/report/4bi1.htmlhttp://msdn.microsoft.com/en-us/ library/aa288197(VS.71).aspxhttp://www.instant-search.com/pdfs/business_report.pdfhttp://marketing.about.com/http://www.quickmba.com/MarketingStrat.shtml If you want to get a full essay, order it on our website:
Ordercustompaper.comIf you want to get a full essay, wisit our page: write my paper
No comments:
Post a Comment