Agenda
- Commencement and closure dates for the businesses
- The roles of the people in the groups
-
The businesses must be complete by the 12th April,
The dates which each of the businesses can operate in are between the following dates:
27th – 31st
3rd – 7th
10th -12th
- The roles of the staff are as followed:
- Jake(Me) - Human Resources and sales manager
- Matthew - I.C.T
- Juan - manager
- Charlotte - marketing and secretary
- Toby - finance
Memorandum of Association
Name: Jimmy Wing Wang Pizza,
Company Name : Jimmy Wing Wang Pizza
Registered Office : Doha
The liability of the members is limited. : 150QR and 20% per person
The Company's authorised share : 750QR 750x1QR shares
Signatures : Matthew McCarthy
Juan Gordon
Toby Toon
Jake Schober
Charlotte Booth
Market research
Market research is where the business gathers information in order to design and plan whether or not a business/product will be successful. There are 2 forms of market research primary and secondary; primary is collecting new data in the form of a questionnaire or a survey where as secondary research involves reusing existing data.
Primary research
Primary research involves finding out information on your potential customers, primary research methods include surveys, interviews and observations. Businesses carry out primary research in order to find out whether or not a business will be successful.
We asked this question so we could find out if our business would be successful, after asking the questionnaire we found out that the business would be successful. This tell us that are business should be successful
We asked this question so we could find out where the business should be located, after asking the questionnaire we found out that the business should be located near the music block. Although my questionnaire tells me to locate near the music block i think that we will located under the shaded area as there is more room.
We asked this question so we could find out what pizza to sell, after asking the questionnaire we found out that more people what thick crust to thin. This tell us that we should buy all thick crust
We asked this question so we could find out what pizza to sell, after asking the questionnaire we found out that more people wanted margarita. This tell us that we should buy mostly margarita but to please more people we will buy pepperoni and BBQ chicken as well
We asked this question so we could find out what drinks to sell, after asking the questionnaire we found out that more people wanted coke. This tell us that we should buy mostly coke but to please more people we will buy diet coke and sprite
We asked this question so we can find out how many pizzas we need to buy, after asking this questionnaire we found out that most people will only want one slice so we don’t need to buy lots
We asked this question so how many people buy from the tuck shop, after asking this questionnaire we found out that most people buy from the tuck shop so this tells us that we will have to compete with the tuck shop
We asked this question so how many time people buy from the tuck shop, after asking this questionnaire we found out that most people buy from the tuck shop once a day
We asked this question so how much people spend at the tuck shop, after asking this questionnaire we found out that most people only spend 1-5QR most of the time for a drink
Secondary research
Marketing plan
A marketing plan is a document that has the steps needed to achieve my marketing objectives. It can be for a product or service. It can be organized for 1 year or even 5 years for a more successful business.
The four P’s
Product - An product or a service that a customer wants to buy
Price – The price is the amount a customer pays for a product. It is found by a different number of ways including market share, competition and costs. The business may increase or decrease the price if other businesses have the same product.
Place – Place represents the location where a product can be purchased. Also it refers to the distribution channel. It can include any stores as well as warehouse where items are sold on the Internet.
Promotion – the advertising steps taken to attract more customers to the business in hope to make more money.
4 P’s for my business
Place - We know where we’re going to set up. We’re getting up our business under the shaded area near the common rooms as there plenty of space and it is not far from the main gate.
Product - We will be selling 3 different types of deep pan pizza, margarita, BBQ chicken and pepperoni as well as pizza we will be selling canned soft drinks.
To advertise our business we used 2 methods of above the line these methods are
The first strategy we tried in order to gain public recognition of our business was through advertising on posters around the school so that the potential customers were able know when the business was going to be operating. Another reason as to why we put posters up around the school is because it is on of the few practical ways as to which the business can be advertised, the only other method of advertising is over the schools tannoy. We used both methods of advertisement in order to gain the publics recognition. Juan, Charlotte and I organised and did the tannoy message for our group the Not only is this way of advertisement effective but it is also an inexpensive way of advertising.
Price
The only below the line method we are using is a combo, when you buy a pizza and a drink you save 1 QR. This is a good idea as it will reduce the amount of change we need and it allows them to save money
Trading Table
Below is a table with all the financial information about each day:
Cash flow forecast
The opening balance is 750 because of the 150QR that everyone invested,
The inflows is the money that we got from selling the pizza and drinks,
The out flows are the money that we had to pay in order to run the business,
The closing balance is the opening balance plus inflows minus outflows,
The closing balance becomes the opening balance for the next day,
At the end the is 250QR left over this is because of 2 reasons, one is that we were selling pizza and drinks as well as combo meals which is a drink and a pizza for 10QR which is one riyal cheaper although this may not seen a lot but we sold a lot of combo meals this would add to the 250QR another smaller reason why we did not achieve the 250 is because we gave people that helped us with free pizza and drink
Profit and loss
The turnover is the total sales that we made
The costs of sales are the prices that we had to buy
Gross profit is turnover minus cost of sales
Gross profit minus expenses equals the net profit
Break even
Fixed costs are what we invested
Selling price is the amount we sold the pizzas for
Variable price is the price we bought the pizza for
We have to sell 500 pizzas in order to break even by selling drinks as well we would break even faster
Personal diary
16th December 2007
Sunday
- Discussed what groups will be set for each business, they were chosen by us students. The group which I chose and decided with the my class mates to be in was as follows:
- Charlotte
- Juan
- Toby
- Matthew
- Jake(me)
- Looked at the spectrum as to what is required for the task
- Discussed possible ideas for what could be done for our business some of the ideas were shwarmas, pizza donuts. With what ever we were going to serve for our business we were going to provide soft drinks
Sunday 13th January 2008
Sunday
- We thoroughly discussed and finalized as to what groups we were going to be in, which ended up being the groups which we initially decided
- What roles each of the staff members who were in the group would have.
- The dates as to which the business could commence and end on
- Finalized what business we were going to do in the way of what we were going to sell, and we decided on selling pizza and soft drinks
- What rescourses we could use to get the supplies from, such as Pizza Hut, Pizza Inn and Yellow Cab Pizza
- How we could advertise the business and where we could advertise it.
- Found out the prices of the pizzas for different sizes. They were as follows:
- 33qr for a medium
- 44qr for a large
- 52qr for a family pizza
- We decided to get large pizzas and sell each slice for 8qr and soft drinks for 3. we also offered a combo meal which consist of a slice of pizza and a soft drink which we would sell for 10qr.
Monday 14th January 2008
Monday
- We produced a questionnaire
-
We discussed when we should have the shop open for first or second break. We decided second break because the suppliers didn’t open till after 1st break
- Decided what to call the business we decided on Jimmy Wing Wang Pizza’s
- Found out the cost of the pizza’s
- small: 25
- medium: 35
- Large: 45
- These were the initial prices which we were give
-
has to be finished by the 10th April,
Dates are 27th – 31st
3rd – 7th
10th -12th
- Jake - Human Resources and sales manager
- Matthew - I.C.T
- Juan - manager
- Charlotte - marketing and secretary
- Toby - finance
Tuesday 15th January 2008
- Questionnaire
- Silver café
- meeting with Mr. Leopard and Mrs. Wolf
- Planned and produced the questionnaire this is to discover what the demand would be and what preferences people have for which types of pizzas
- Went and got some of the questionnaires filled
- Questionnaire designed and given out to 80 people
- problem with silver café Juan has arranged to meet with George to discuss dates running the business
- also there was a meeting arranged with Mr. leopard and Mrs. Wolf
Wednesday 16th January 2008
-Juan had a meeting with George the manager from the school tuck shop
-Questionnaire results
After Juan went to meet with George they discussed about running our business and silver café does not have a problem with us selling our pizzas at break times during school.
Matthew collected all of the questionnaire results a put them into a results table so it can be analysed.
Thursday 17th January 2008
- Most work so far has been completed already the only thing to do is to work on the introduction, mission statement, aims and objectives
Sunday 20th January 2008
- Tasks
-Times
- We discussed what everyone had to do and other important roles for running the business
-
3-7th 2nd break
Monday 21st January 2008
- Most work so far has been completed already the only thing to do is to work on the Memorandum and articles of association
Tuesday 22nd January 2008
Nothing done on this day as every thing up to here is already complete
Wednesday 23rd January 2008
- On this day Charlotte and I were able to go down and talk to the manager from Pizza Inn, they told him about the enterprise and he was able to give us a discount because we were buying so many and they organised them to be delivered at 10:30am. Charlotte and I went to Pizza Inn. and discussed pricing and delivery times and quantities which we will be needing throughout the week of running the business.
- We negotiated the price so we get 2 large pizzas for 72qr instead of 90
Thursday 24th January 2008
Nothing done on this day as every thing up to here is already complete
Sunday 27th January 2008
Nothing happened this day as the other enterprise was being run so we just continued working on the write up
Monday 28th January 2008
Nothing done on this day as every thing up to here is already complete
Tuesday 29th January 2008
-Financial information
1. 750QR invested → 150QR each
14*8*8 896 forecast income
14*8 -504 cost for pizzas for 1st day
4*25 -100 4 crates of drinks for 1st day
-32 napkins
= 260QR
Thursday 31st January 2008
- Conformation
- Advertising
- Charlotte called up Kumar and Tebah Gardens compound to confirm the order
- Juan and Matthew printed and put up posters on about are business.
Sunday 3rd February 2008
-
1st day of trading
- I brought the cool box in to store the drinks
- We changed some money for change
- We set up the tables for running the business
- Food arrived
- Split pizzas into 3 sections pepperoni, cheese and chicken
- Juan was selling chicken
- Matthew was selling cheese
-Charlotte was selling chicken
-Toby was giving us change
- I was giving drinks
-At the end of the first day we had a total of 1256QR
- Evaluation
We completely sold out of all pizzas and most of the drinks
A problem which we incurred was the unorganisation of the queues as to which the customers had to line up in so it was difficult to organise who wanted what and how much they need to pay.
Tomorrow we will increase the number of stock due to we sold out very early into the break also we have organised some barriers so that the queues for people waiting for pizzas will be more organised and they will be signed posted for different lines with different pizzas. Although we may not sell out due to the fact that the year 11’s are having a bake sale during the first and the second break. This will mean that a lot of the students will have spent most of their money within the first break meaning that they may not be able to afford to buy a pizza
We will increase the number of drinks on the second day due to the fact that we completely sold out of coke
Cost for next day 792QR for 22 pizzas
225QR for 9 creates of drinks
792 + 225 = 1017QR
Monday 4th February 2008
-
2nd day of trading
- We organised more small money change in order to be able to cope with the demand
- We decided to move where we have the stall set up due to lack of space.
- Food and drinks arrived (food arrived to early so it was slightly cold)
- We Organised 3 separate cues for the pizzas we segregated it into one line for each type of pizza.
- Juan was selling Pepperoni
- Matthew was selling cheese
-Charlotte was selling chicken
-Toby was giving drinks
- Jake was giving us change
-At the end of the second day we had a total of 1921QR
- Evaluation
The lines were much better there was more organisation that the day before
The problem was we sold out of pizzas before the end of break but there was competition with the year 11 cake sale who was trying to raise money for their prom. Even with the competition we sold out so the overall effect of the day was good but as there are selling again the next day we will keep the number of pizzas the same.
Cost for next day 792QR for 22 pizzas
175QR for 7 creates of drinks
792 + 175 = 967QR
Tuesday 5th February 2008
-
3rd day of trading
On this day we ordered the same amount as before just the amount of each create of drinks changed
- We changed some change into larger notes as we had plenty of change
- We set up the tables for running the business
- Juan was selling chicken
- Jake was selling cheese
-Charlotte was selling chicken
-Toby was giving out change
- Matthew was giving out frinks
The year 11 cake sale was on again and still we managed to sell out so we know our business is still popular and successful.
-At the end of the first day we had a total of 2700QR
- Evaluation
There was not much we could change. I think everything is okay
Cost for next day 792QR for 22 pizzas
175QR for 7 creates of drinks
792 + 175 = 967QR
Wednesday 6th February 2008
- 4th day of trading
- We changed some change into larger notes as we had plenty of change
- We set up the tables for running the business
- Food and drinks arrived (drinks arrived late)
- Juan was selling chicken
- Jake was selling cheese
-Charlotte was selling chicken
-Toby was giving drinks
- Matthew was giving us change
-At the end of the first day we had a total of 3275QR
- Evaluation
There was not much we could change. We did have a lot of diet coke and sprite left over so we will order less on the last day
Cost for next day 792QR for 22 pizzas
50QR for 2 creates of drinks
792 + 50 = 842QR
Thursday 7th February 2008
- 5th day of trading
- We changed some change into larger notes as we had plenty of change
- We set up the tables for running the business
- Food and drinks arrived
- Juan was selling cheese
- Matthew was giving change
-Charlotte was selling chicken
-Toby was giving drinks
- Jake was selling chicken
-At the end of the first day we had a total of 3730QR
- Evaluation
There was not much we could change. We finished with nothing left we ended up selling all out.
Wind up of the business
As we had no machinery or anything we had to give back all that was left was to split the money between the shareholders
3730-(150*5= 750 the original investment) = 2980QR
2980-(480*5) =
Jake 150+480=630
Juan 150+480=630
Charlotte 150+480=630
Toby 150+480=630
Matthew 150+480=630
Business department 580 =580
= 3730QR
Staff Evaluation:
Matthew: I feel as though Matthew put a lot of effort into the business but became a bit to enthusiastic at times and tried to over rule Juan in his decisions. I feel he contributed well and pulled his weight in this assignment.
Toby: I think that Toby did put quite a bit of effort in although lacking at times when we were actually running the business he contributed well.
Charlotte: I think that Charlotte played a big part in running the business helped organise meetings and the supplies which we needed in order to run the business.
Juan: played one of the biggest parts in running our mini enterprise unit. He organised the advertisements and also helped me with the running of the staff and the organisation of our human resources. Also he was the business manager and also helped organise some of the meetings.
Jake(me): I think that I did well in pulling my weight and contributing to the business although at times I didn’t put my full effort into the business I think I still managed to do well in doing my designated jobs and roles. Every day I got out early from class so I could go and help set up the business. Also I contributed to the posters which juan designed through giving him ideas.
In conclusion to this task I believe that our business was very successful the short amount of time it ran for. It made us realise how much organisation there is in staring up your own business. We found that there was a lot of organisation and our business was only designed to last for 5 days maximum. I think that the business was not only successful financially but also in the day to day running. I believe that we cooperated with each other quite well.
