If we run low on any food or drinks Christopher will go and collect what products we are low on. The food and drinks will be stored in Mrs Cosbys stock cupboard, which I will be responsible for collecting just before lunchtime to get started of. We will use Mrs Cosbys microwave to heat up our hotdogs and be taken to our stall, which is also my responsibility. We will borrow one of the old canteen tables for our stall table Which Christopher will be responsible for collecting at the beginning of lunch and putting back at the end of lunch time.
It will go like this every lunchtime when we sell.
Possible Problems:
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No time to buy materials: One of our parents will buy the stock.
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Running low on money: Will borrow money of our parents.
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No longer allowed to store our equipment and food in Mrs Cosbys cupboard: We will ask another teacher if we can store it all in their classroom.
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Money gets stolen: Christopher will look after the metal moneybox and I will look after the key.
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Disagreements between us: One of our parents will help us sort it out.
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If one partner is not working as hard as the others: We will talk about it and come to an agreement.
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Have food that we cant sell: We will put in Mrs Cosbys refrigerator and use next day.
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Have leftover stock at the end of the week: We will buy for our self’s at the cost price.
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Not enough time to sell on Wednesdays when we have 25 minuets lunch: We will sell for 25 minuets lunch and will sell after school when school canteen opens and close when canteen closes.
Our Goals:
Our short-term goals:
By the end of every day we hope to have sold about 20-30 hot dogs and be making a profit of about £15 - £25+ and to make sure every person in our school knows about our business along with the good tasting delicious hotdogs we sell with lovely sauces and toppings. We also hope that every one will know our location of where we are selling our products and come back for more.
Our medium-term goals:
By the end of the school week (4 days) we hope to have earned a profit of about £60 - £80 + and for our mini enterprise to be a success. We hope to have learnt the following skills:
- How to run a mini enterprise and to run it successfully.
- How to keep accurate records off all the money we receive and payout.
- How to be able to work as a team.
Our long-term goals:
When we leave school we want to know how to start up our own businesses and want to run our own business some time in our life’s when we have left school.
My long term goals:
When I leave school I want to start up my own business and then be in partnership with someone. So I hope to learn as much as I can now to help me when I leave school and learn as many skills as possible.
Business Ownership:
We decided to both form this mini enterprise because we thought that our business would have a greater chance of success if we combined our different skills in one business. We will both help each other and share the tasks and responsibilities. We are both putting the same amount of money in together (£20) each. And will borrow £10 form the bursar if we need to.
Wayne Angell (me) is the main manager of the business,I also have the responsibility of purchasing the stock and has to check and buy new stock every day when we are short on food and drink and buys it after school.
Christopher Johnson is the money manager. He is responsible for looking after the money and keeping accurate records of all money received and paid out. Every day he has to work out how much profit we have made.
We have agreed to take out all of our money we have paid into our business at the end of the week and give all the profits to charity.
Claybank
Blackpond lane
Farnham Royal
Bucks
SL2 3EA
20th October 03
Dear: Whom this may concern
I am writing on behalf of Wayne Angell (me) and Christopher Johnson. Would it be possible for us to borrow a segment of the canteen possibly the opposite side of the machines for our mini enterprise? We would like to borrow it for the four days of school. Thank you for considering us a place in the canteen.
Please do not hesitate to contact me if there are any queries. I will be in the form 11Axf. Science lab 4.
Yours Sincerely
Wayne Angell
Student
Questionnaire
- What Gender are you?
Male ( ) Female ( )
- What year group are you in?
Yr7 ( ) Yr8 ( ) Yr 9 ( ) Yr10 ( ) Yr 11 ( )
- How much money do you bring to school daily?
None ( ) 50p ( ) £1.00 ( ) £1.50 ( ) £2.00 ( ) Other £..… ( )
- Do you buy hot food in the school canteen?
Yes ( ) No ( )
5) What food products would you prefer to buy?
Hot dogs ( ) Samosas ( )
Spring rolls ( ) Pizzas ( )
- How many would buy a week?
1 ( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )
7) What sweet products would you prefer to buy?
Cakes ( ) Muffins ( )
8) What drinks would you prefer to buy?
Coca Cola ( ) Diet Coke ( ) Sprite ( )
Fanta Orange ( ) Dr Pepper ( )
9) What is the most you would pay for a drink?
40p ( ) 45p ( ) 50p ( ) 55p ( ) 60p ( )
10) What is toppings do you prefer on a Hot dog or Hamburger?
Ketchup ( ) Brown sauce ( ) Mayonnaise ( ) Mustard ( )
Thanks for filling in this questionnaire.
By Wayne Angell & Christopher Johnson
Delicious & Fresh Long Hot-Dogs
Only £1
For Sale at Lunchtime. Come and get them while they last !!!!!
Monday 20th – Thursday 24th October
Questionnaire Results
Questionnaire Results
Questionnaire Results
Questionnaire Results
Questionnaire Results
Hot dogs: £0.65p
Can Drinks: £0.50p
Mega Deal: £1
+
Or
Or
MINI ENTERPRISE REPORT
FOR FAST HOTDOGS
INTRODUCTION
A mini enterprise is a little business, which is open for a short period of time. A mini enterprise is done so people will get the taste and know how it is to run a real business.
My aim is to make a successful business, make a big profit and break even very early on. In order to do this we need the owners to work as a team.
The business opportunity
The first thing we needed to do for our mini enterprise was to choose what we were going to do, who is in charge of what, what they have to do and when they have to do it. We all wrote down ideas on a piece of paper (spider gf diagram). Then after we came to a conclusion and we chose to run a business called fast hotdogs which is:
The reason we chose this was simply because we knew that none of the other mini enterprises was selling hotdogs so it would attract a lot of students and teachers and because hotdogs was a the most preferd on our questionnaires. We knew that no one else in the past had done this, so we knew it was a chance and we had no knowledge that it will do very well as it has not been sold before. We also knew that stock and equipment was easy to get hold of and cheap. So we could make as much profit as possible, our profit margin would be high. Are main aim was to make a lot of profit and to be a successful business and reach our breakeven point during the early part.
We also thought about how to get hold of the stock and we also thought about the other groups and what competition they will be to us.
We also made a list of the main things we would need to consider:
-The stock- hotdogs and drinks.
-The location- we needed a place in the hall and in the canteen to sell our product.
-A small sum of money- we needed to borrow money of the bursar as loan.
Research
We all were sitting down and then we decided what to do in our questionnaire. We needed to think about an important question to ask the pupils. We also decided that are question needed to be short and sweet. Otherwise people wouldn’t be bothered to answer them. We also had boxes to tick the answers, which takes them less time to fill in and is simpler.
For our results we produced graphs and made a break-even chart for the profit we made in our mini enterprise.
THE BUSINESS PLAN
To make the business to work we need stock, permission from teachers, help from the rest of the people in my group, finance, and most important of all we need loads of customers. So we could make lots of money.
To achieve our needs we needed to give each member of the business a certain job. The job we all did was to advertise and bring money in to start the business.
Our business plan enabled us to plan our business and show us how we could make more money. The way it our business was planned out was we all thought of different issues and wrote them down on a piece of paper.
The plan was so important that we all had to agree on it, and we needed to show the bursar our plan to acquire the loan that we would pay back later on.
Whilst running the business
While we all were running the business we came up with problems like:
The Hotdog stall- the first problem we came across we heating the Hotdogs and where could we get them heated in time.
The next problem was how many jars and rolls do we needed to buy in order to sell. The next problem was setting the stall up in time for lunch. The other problem was once we heated the Hotdogs that they could only be heated once. There was Hotdogs and rolls leftover and unfortunately had to be thrown away. The last problem was we only had 10 minutes to leave our lesson to set up the stall.
WAYS WE CONQUORED THE PROBLEMS
-To solve the first problem we needed to leave the lesson much early. In order to do this we needed a letter from our business studies teacher. So this problem was solved.
-To solve the next problem we needed to know how many pizzas to buy. After the first day we found this out.
The next problem was that if the pizzas didn’t sell we couldn’t re heat them. So to solve this we just shared the remains out with the people in our group.
-To solve the last problem was we had to ask our business studies teacher would let us out early from lesson to set up our stall. So then this problem was solved.
Solutions to the problems
The way we came up with the solutions was that we all came after school to meet and talk about our problems.
Fast Hotdogs- The owners were as follows Wayne Angell (me) and Christopher Johnson.
HOW MUCH MONEY WE ALL NEEDED TO START THE BUSINESS- we needed a lot of stock to make the business work. This means that everyone had to bring £10 pounds in so then all together we had £20 pounds and this would hopefully last us the whole week. So for the three days we spent 10 pounds on the pizzas. And the 10-pound the bursar gave us was toward buying the drinks. And we all added a little bit of more money so we could buy the drinks.
We also had to pay for hiring out the canteen and hall and also electricity.
THE PRODUCTS THAT WE WILL BE SELLING:
We will be selling cans and Hotdogs.
HOW MUCH STOCK WE WILL BUY?
We will buy a 30 Hotdogs and 48 cans.
HOW MUCH OUR PRODUCTS WILL COST:
The Hot dogs will be £0.98 for a jar of ten and the cans will cost £6.50 for 24 cans (crate).
MARKET STRATEGY;
We gave out one Questionnaire to the pupils. It had a choice of foods as you can see in our (Appendix 1) for the for results. We advertised our business by handing out flyers and putting posters on the wall. Also we made a mega meal deal.In this way we could attract customers. And we put a competitive price to compete with other businesses.
WHERE OUR BUSSINESS WAS SET OUT:
Our Hotdog stall was set out in the canteen due to hygiene regulations.
IN ORDER TO KEEP OUR MONEY SAFE:
To keep our money safe we gave it in to the school bursar.
OUR PRICES:
Hot dogs = £1
Cans – £0.50p
Extras = £0.10p (ketchup and mustard)
By Wayne Angell 11Axf
