Business Report On An Student Run Business, Consumer Choice, Year 9 Commerce

2798 words - 11 pages

BUSINESS NAME: The Suga MammasExecutive summary:Our group of ......., decided to call our small business the Suga Mama’s. We had all agreed on this. The name we chose was suitable, original and catchy. Our vision statement was “everything under $1.20”. This was used to attract customers, who don’t usually bring allot of money as this is the majority of our school. In the end our business turned out to be successful.Planning/preparation:In our planning and preparation towards the big day we had to think about:What food to sell and why- in the beginning we chose to sell sweets in general, because we had heard from previous businesses that sweets sold quite well. We also heard that if we chose tho sell sweets that it was a safe option as we could sell them on hot or cold days meaning they were not weather dependent. We then thought to investigate further and conduct a survey to see what the rest of the school likes, because in the end it is up to the consumers.How you figure out the pricing- At first we tossed and turned about how big or small each product would be which would then affect our pricing. In the end we made a group decision that we were to make each product bigger because people would feel like they were getting their moneys worth. Therefore our prices were around $0.80-$1.00. We also decided on our pricing by choosing prices that needed no change or one coin only e.g. 20₵ change not 30₵ making our prices 60₵, 80₵ and $1.Operation:The Suga Mamas were selling outside of c block on Thursday 30th of august 2008. We sold at recess to begin with then sold the remaining at lunch.The items made:Everyone contributed to the food madeperson 1:•Toffees•Fairy bread•Cookiesperson 2:•Rocky road•cupcakesperson 3:•cupcakes•lolly bags•iceblocksperson 4:•jelly cups•browniesWe chose to sell at recess and lunch because we figured that if we didn’t sell all our food at recess then we would have leftover which would probably mean we would make a loss but if we sold the remaining at lunch it would mean making a profit.We also came to a conclusion we did need to hire people to help us because we only had four in a group and we thought that that wasn’t enough especially if we had a lot of customers. In the end our excellent planning showed our high profits at the end of the day.AccountsCassie was in charge of accounts. She distributed the $20 float to use on the day as change. This was mostly in 10 cent coins and 20 cent coins but we also had other change as well. Her job was to take care of what other people paid to produce their products. She monitored our spending levels advising us only to by ingredients at a sale or when it was cheapest so that we could make more profit. She also kept a record of recepts showing and proving the price of what everyone paid.In the accounts section we also had to take into consideration the tax we were to be charged and the...

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