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Business report

  1. 1. Summary This charity drive is aimed to provide students with the practical experiences of doing business. Students are required to find sponsorships and also suppliers on their own. In this project, they are required to think creatively and strategically in the course of starting and running a business. In the one week of charity drive, we sold Meme’s T-shirt as our main product and some other product like dolls and yoyos for extra cash. The fund raised areto be donated to TsuJi. In this event, we have raised a total of RM2100 for donation. To raise the fund, we had used a list of methods and strategies to help sell our product. Overall, this charity drive is considered a success since we had achieved our target which is RM2000. RM1000 was given by sponsors while the other RM1100 is earned by selling our products. On 18 Feb 2014, A total of RM2100 was donated to TsuJi as charity.
  2. 2. Objectives We have conducted a charity drive for five days, starting from 10 th of February 2014 to the 14th of February 2014. The objective for the charity drive that we have conducted on the stated date was to help TsuJi Dialysis Center by donating all profits that we earned from the charity drive. And of course, we have reasons why we want to help the TsuJi Dialysis Center by donating them with the profits earned from our charity drive. It is because we have heard, read and watch in TV a lot of times that there are some people out there who had gone through kidney failure. Since the days of our high school, we have heard a lot of cases like this happened, and there are just too many cases that we cannot even count them, not to mention the cases like this in other countries that we did not know about. And TsuJi Dialysis Center have helped them without expecting anything in return, this has touched our hearts to help them. In addition, recently we heard that there are many people who have kidney failure, committed suicide because they cannot afford to pay the fee needed for a Dialysis treatment they need in order to stay alive. The problem actually does not lie on whether they can or cannot afford it, but it actually lies on their family. In order for them to stay alive and healthy, they need to go through Dialysis treatment for a few times in a month, and the cost is just too much for them too afford. And so, they think that if they are to continue this treatment, they will just be a burden to their family, there are even some who think that if they continue this treatment and cannot afford it anymore after several times, they will die, so why waste money for the treatment and burden their family? Thus, they think that it is the same to die now or later, and some committed suicide. So in order to stop this kind of thing to be happening again, we have decided to help them. Besides that, we have also set a minimum of RM 2000 as our goal, and within the given time, we have managed to fulfill this goal by the profits from our charity and the sponsors that we got. Finally, just like our objective, we will give all the
  3. 3. profits earned from this charity to TsuJi Dialysis Center in hope that we can help TsuJi Dialysis Center, so that they can help more those people in need of help. Target Market The charity drive that we conducted was conducted in Taylor’s University Lakeside campus, so the target markets are Taylor’s University students. While there are few others charity drive that were also conducted along with ours, Taylor’s University provided us with thousands of students. Like this, even if we compete against each other, we will surely be able to reach our goal. Taylor’s University students came from different backgrounds, different races and different nationalities, as Taylor’s University is an international university. But because of this, the tuition fee for any courses in Taylor’s University are more expensive than that of a local university, just like any other international university. Thus, most of Taylor’s University students are those with stable financial or those on the upper middle class economy. From this, we are sure that we will definitely hit the target of minimum RM 2000. But even though they are people with good financial support, almost all of them are looking for a high quality and cheap products. And what we are selling are T-Shirts, which are everyday needs, and because we are doing charity drive, we managed to get a very low cost price from our suppliers which enable us to sell it cheaper than our supplier, which make it more affordable. Finally, we have also did a little research on the spending power of most of the students. Most of the students spent about RM 2000 to 3000 per month, these are their total spending for a month. They used about RM 600 to 1000 for their accommodation, around RM 1000 to 1500 as their pocket money for them to spend on food and others, and around RM 500 for transportation and others. All these information have helped us to set a right selling price and helped us in our sales.
  4. 4. Competition Analysis Even though this is a charity drive, but we also have some competitors who competed against us. There are two main competitors, they are from Syafiq’s group and from Garnette’s group. Both of them are very strong, they sold many of their stocks in quite a short time. The first group, sells chocolate, macarons and brownies, while the second group sells snacks and drinks. Their main strength is that they sell food and drinks, which will be more wanted compared to what we sell. Their selling price are also much cheaper than ours and they were selling a variety of food and drinks, in addition to that, they were selling unique drinks that will help them to attract more customers. They have also started to sell their products earlier than our group which help them to earn more because they have more time, while on the other hand we received our stocks just a few days before the charity drive day and it was on weekend, which forced us to start on the first day of the charity drive day. But after we observed, other than their strong points, they also have some weaknesses. In each of their group, less people promoting their products compared to ours, where almost all of us promoting our products and just one of us who was in charge of the stock and payment. Next, they were also selling food and drinks which they need to take care of diligently, for example chocolate, it will melts if they don’t take care of it and cool it, and also the other snacks like macarons, they need to seal it properly and lastly the brownies, it can only lasts for a few days, so they need to make sure it is still good on the next few days before they sell it to the customers. More students went to their booth and buy their stuffs compared to ours, this is because, they sell food and drinks which we all need, and their selling price were also much cheaper, finally it is also because they have unique things, like the drinks that the second group sells, they sell canned drinks which have the capacity of 600 ml. Finally, they also have variety of stuffs to sell compared to ours, this will help their booth to get
  5. 5. more attention from the customers than the other booth which did not have too variety stuffs to sell. Production and packaging Products The product we sold are: 1. Meme’s Tee Shirt We sold good quality 100% cotton Meme’s tee shirt. The shirt is just normal cotton t-shirt with memes printed on it. It look simple but the cotton and ink used for the shirts are both of great quality and all the description on the shirts had some humor in it. 2. Yoyo We also sell original yoyos which are used in tournaments and competition around the world. The price of the yoyos ranging from RM50 to RM 150 depending on the quality of the product. 3. Handmade Dog Key chains Some colourful Doggie Key Chain are also sold. It was handmade and all 60 of them are of different colours and style. Features and Benefits: 1. Meme’s Tee shirt We sell Meme’s T-shirt because it is still quite famous among teenagers and young adults. Other than that, the description on the shirt had some humors in it. It teaches you how to wear a shirt in the most ridiculous way and also state that it consist of 140% cotton which we all know its impossible. 2. Yoyo All of the yoyos sold are originals and famous brand. Since yoyo aren’t that main stream, other yoyos enthusiast would be attracted to the yoyos sold. 3. Colourful dog doll
  6. 6. The handmade dog keychain made to look cute to attract girls. Other than that, there are 60 different types of doggie keychain to choose, with different colour combination and styles. Packaging: a) How are the products packaged? The meme t-shirts are packed neatly in a transparent plastic bag with the picture of the meme visible for customer to preview on. For the yoyos, the original packaging is used and the all the yoyos are previewed on the table. The handmade dolls won’t have any packaging since it would cost more for packaging it. b) Attraction to customers All the memes would be displayed on the table and catch people view. The yoyos have colourful packaging and the packaging also proves it is an original yoyo. For the handmade doll, its attractive on its own anyway.
  7. 7. Pricing 1. Unit selling price a. T- Shirt: RM 28 b. Yoyo: RM 150, RM 100, RM 50 (depending on the product) c. Doll: RM6 2. Unit cost price a. T- Shirt: RM 10 b. Yoyo: RM 0 c. Doll: RM5 3. The price of doll was sold at a very low price because of some issues with the post office. We have to sell cheap to prevent loss. In the end, we were still able to make a profit out of it. The T-shirts we get at a very low price, so we sold it at a moderate price. To gain more customers, we also sell 2 for RM50 and 3 for RM70 to maximize our sells. Promotion Main tools for promoting your products 1. Facebook Page A facebook page was created to explain our motives and also promote our products sold. We use this method because it is one of the easiest and also effective to let the people knows of our sell’s existence. 2. Face to face conversation We use a lot of face to face conversation to promote our products and also convince them to buy something or just donate some money.
  8. 8. Sponsors In this project, majority of the sponsor we got is individual. Most of them are relative of our group member eg:father and etc. We choose to approach relative and closer person for sponsorship as they are supporter of their own family and literally more financial generous. However, we still managed to collect RM1000 for sponsorship from individual sponsorship. Since those sponsors is closed to our group members, we approach them through phone call and even face to face meeting. Special Thanks to No. 1. 2. 3. 4. 5. Individual Mr. Phung Sin Kong Mr. Low Wan Cheong Ms. Jong Lie Lin Mr. Rudy Mr. Tsang Hao Han Sponsorship Amount RM 400 RM 400 RM 90 RM 70 RM 40 Note: all of them made donation in cash* Distribution Our charity is selling T-shirt and the doggy doll. So, how our get the products? The Tshirt we get from Kelvin Ng’s friend. We order around like 200 T-shirt to sell in the charity. Meanwhile, the doggy doll is homemade and we get the stock from HaoRen’s friend and we order 60 doggy doll to sell. The T-shirt we taking like a day to get the stock from Kelvin’s friend., while the doggy doll is delivery to us by postlaju. During the charity, we keep promote and just stay focus on the T-shirt to customers, because the design of the T-shirt is quite nice, creative. So we think T-shirt is the most higher selling products for us. Throughout the whole week charity, we getting like 66 peoples. Most of the customers their reserved the T-shirt.
  9. 9. Green Measures Our T-shirt actually is 140% make from cotton and the doggy doll was homemade, without any machines or some factory issues. Our packaging not really environmental friendly, because we using plastic packaging our T-shirt. We using a normal selling way to sold out our products to customers, and we don’t have using any carbon footprint. Meanwhile, because T-shirt is using plastic packaging, so we think they tear off the plastic and throw away or other way is their reuse it. Our charity not really using more electricity, paper or water, because we just selling T-shirt only, no necessary using water, paper and electricity. The measures we taking is recycle measures, recycle the plastic bag and reuse them also. Human Resources Planning Human resource in my groups is very limited as our group only has 5 people. As the group leader, Tsang HaoRen playing role as the project manager, Kelvin Ng as sale executive and supervisor, he contact the distributor of the t-shirt and also flow of the stock. Since BeellyVun had some experience in doing accounting, he was assigned as accountant for our group. Stanley Low are talented in promoting our product and doing charity performance so we can collect donation after the performance so he is handling the role of advertising executive. EdyWijaya playing role as marketing executive and advertising assistant as he was the one who pick up the donation box and ask for the donation right after Stanley and Kelvin finish
  10. 10. off their performance. Tsang Hao Ren (Project Manager) Kelvin Ng (Sale Executive & Supervisor) Beelly Vun (Accountant) Edy Wijaya (Marketing Executives & Advertising Assistant) Stanley Low (Adverting Assistant) Evaluation of Result No. Item 1. 2. 3. 4. 5. 6. Note Sponsorship Meme’s T-shirt Consignment from Determined Chicken Mori’s Bread Bought from KN’s group Key Chain Handmade key chain YoYo Consignment from TrYo Donation Box - Cost Per Unit RM 0 RM 10 Deposit Profit Per Unit Quantity Bought Quantity Overall Profit Sold RM 0 RM 0 RM 1000 RM 15 0 0 0 66 RM 1000 RM 990 RM 3 RM 5 RM 20 RM 100 RM 250 RM 0 RM 2 RM 3 RM 20 50 60 0 16 25 5 RM -52 RM -50 RM 100 RM 0 RM 0 RM 112 0 0 RM 112 Total Earning from the charity drive for our group is RM2100. We did well on the sponsorship and selling meme’s t-shirt in this event. However, due to some post office issue and the shifting get delayed so we can’t sell our product on time causing us to lost quite amount of money. For the Mori’s Bread, we turned to be bad marketing skill selling of the bread as Beelly is the only one who doing the sale while we
  11. 11. still promoting other product such as t-shirt. Luckily we covered our loss at the end of the event. In a nutshell, meme’s t-shirt dominated our sale for the charity drive. Appendix Random Sales Receipts
  12. 12. Receipt from TsuJi