Monday, April 27, 2015
The Grind
We have officially opened and we are on a 10 day trial run. We are day 3 into our trial and have made around $90 in profit. However, we have broken even and have gotten new supplies, which cost around $70. We have been opening before school, during break, and on certain days during our free periods. The problems that we have run into are: not producing coffee fast enough, clean up takes a long time when we have to put the other business's supplies back where we found them (The Igloo's), and trying to keep up with the demand of certain bars. Our solutions have been to make a pot of coffee and not just have the Keurig, saving enough time to clean up during our last period open, and we have not exactly found a solution for our bar demand because our storage is minimal. We have added more to our menu based on feed back that we have been given, for example: Vitamin Waters, Whip Cream, and other bars. We are the most successful group so far out of our class mainly because of the demand for food at school is high. Overall, we hope to keep our spot longer than 10 days in that location and hope to expand our business's inventory. We are now working on a Crowd-funding Campaign for our final project (it will not actually go live because we are not 18) and and we are "raising money" to buy seating for in front of our bushiness. We are trying to make the space around The Grind a more inviting space with comfortable seating with a cafe-like feel. Overall we are in good shape and are making a good profit and have a steady cash flow.
Labels:
coffee,
experiment,
hot chocolate,
location,
planning,
small business
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