HOT SEAT LESSONS CARCHANGE UPDATE!!!!!!

As a result of sitting on the hot seat a couple days ago there are many logistics I need to figure out. One of the most important ideas was to figure out my pricing logistics. This includes how much my company will make on each transaction, will the renter or our company set the price for the cars, and if there should be a fee to list your car on our website or app. These are all significant decisions which will determine whether or not customers are attracted to my company. Other topics I learned about from the hot seat was to find a way to convince my customers it is safe to rent out their car. I plan on achieving this by guaranteeing every renter full coverage on their car if it is stolen or damaged. Lastly, I need to decide where and how the transaction will occur between two people, this is important because customers should feel safe renting from a stranger. Currently, I am working on finishing my website and there has been significant progress since our last update. We hope to get our website up and running asap and listings/purchases soon!!!

The Grind

Recently, we have been very busy prepping for our opening. We just ordered the food, drinks and materials we will need to run successfully! On thursday April 2nd, we presented our business pitch to some members from the school including our headmaster, business reps and other adults. Our presentation went very well and we finally received an answer about the igloo. The leadership board has come up with an idea to work with the parents association by possibly offering a 10 day trial to figure out if everything would work with regard to sharing The Igloo with The Grind Coffee Shop. We have our coffee machines, hot water carriers here and our other inventory is being shipped to the school this week. We have decided that we want to open this coming week. We pivoted from our original idea to open immediately after spring break and decided it would be more efficient if we opened by next week. We are also working on reorganizing our business pitch to turn into a more efficient document to give the leadership board. When ordering our food, we realized that with some companies we can subscribe to their supplies and gain discounts in the future with reordering our supplies. The bottom picture below is our logo that we created for The Grind. We have decided to have our logo printed out and placed on each of our cups, but want to wait until we create some profit to make this investment. The picture on the top is a list of our profit and purchase prices, along with an overall average profit from our intended inventory.

The Grind

This week was all about preparing for our presentation for Mr.Reed, Mr.Thomas, Mrs.Williams and many other teachers. We took the mini business plan we made the previous week and decided what were the most important points from it. We also discussed what would be the most valuable points from our lean canvas and what would be the best presentation format to use. We ended up choosing Prezi to display our presentation for the teachers and picked the most important parts from our business plans. All this planning was done on Monday, Wednesday and Thursday. Friday, we went through a dry run of out presentation and prepared ourselves for difficult questions and problems that could occur or be brought up in our meeting. We were not completely prepared for our presentation, because we only have five or six slides, so we will need to make sure that is done by the time we return from Spring Break. Our initial launch date had been immediately following the return of Spring Break, but now we have realized it will need to be pushed back a few days in order to meet and make decisions with regards to location and supplies.