The total cost of all of our expenses is approximately CA$69, possibly $75 because of tax and additional variables.
Our product is unique because although it seems like an ordinary chicken burger, it is a high quality one due to the way it is produced and to the quality of the ingredients used to produce the entire sandwich itself. Our product is both gourmet and cheap, a rare combination in the business world.
To market our product, we will both be making posters and verbally advertising our products. We chose to use posters because from our own personal experiences, we feel that a professionally made poster attracts several customers; we will be spending a total of $5 on advertising. We will also be verbally advertising our business by telling students that we know in Grades 6 & 7 to buy our product and also advertise for us. This form of advertisement is productive and also free of cost!
We are planning to produce exactly 50 chicken burgers for the Grade 8 Mall. We have decided to make only 50 burgers because there are around 700 Grade 6s and 7s and we are only trying to meet 7% of the entire population of buyers. There are going to be more than 50 businesses equally divided between 700 kids, each business should attract at least 7% of the buyers, and that is a best case scenario. So we believe that we only need to sell 50 burgers to make a reasonable profit and we don’t want to overspend. We feel that we will get substantial business, but not a lot.
We will be bringing our ingredients to school separately in containers and assembling our product at school. Our burgers will be bought frozen, but we will thaw them before the date of the Grade 8 Mall and then cook them in our grill at school, making sure that they are warm and fresh.
We have done some research for our business. A survey held by McDonald’s in 2010 shows the top 5 sellers of the year, with the fourth one being the McChicken and this survey helped us decide to make chicken burgers because it shows how popular they are.
The link to the survey:
We are going to sell our chicken burgers for CA$ 2.50 and after we have made back all of the money we spent (we will need to sell $30), we may possibly have special offers and deals, like 50 cents off, etc. If we are getting a lot of business we will not drop our price, but we may raise it for a while to see if it still sells well. If it does not work out, we will resume the original price of $2.50.
Our consumers are going to be the teachers, and the Grade 6s and 7s. The consumers usually want something that is delicious and is served quickly, and lots of people love burgers! We only have to supply the ingredients to make a burger along with the grill to warm up the meat patties and we demand $2.50, whereas it only cost about $1 to produce a burger. Yes, we will be making at least double the amount spent, so we will be profiting about $60, which is a good profit.
We thought up of our company name, “The Burger Joint,” by simply wondering where people sell burgers at and we automatically thought up of a burger joint, so we entitled our company a simple yet catchy name. We got our slogan by pondering the focus of our business, which is providing warm burgers quickly, so we thought of saying our business, is the “One stop, burger shop.”
