27 March 2018

11th Meeting

Group Discussion & Decision

·         Met our mentor (Mr Martin Pirotta) for the first time.

  • Discussed the idea with the mentor.
  • Discussed advertisements.
    • Where to advertise?
    • Consider more options than just Facebook...
  • Discussed permits that we need to know such as parking permits, etc.
    • Licences needed: Driving licence, food handling...
  • Packaging should be presentable and sourcing of materials needs to be done.
    • Ideally, packaging materials should be eco-friendly.
  • Determine and design a menu. 
  • Safety needs to be considered.
    • Safe material for the bus windows
  • Demographics
  • Expenses:
    • Employment of driver (this may be temporary till one of us obtain the licence), the driver is preferably a sub-contractor to avoid taxes. 
    • Bus
    • Equipment
      • Fridges
      • Displays
      • Bus Alterations
    • Insurance
    • Renting or buying a garage for storing food and sheltering the bus.Or it can be owned as a partnership with the garage owner. (sharing profit)
    • Electricity
    • Ingredients
  • Specify target audience
    • Why would you target tourists only?
    • You may have a limit amount of servings a day (ex. 200)
  • Specify locations of  selling points
    • Obtain permits
    • Check if its viable and realistic
  • Determine days and times of operation
  • Loans
  • Create another questionnaire and target tourists as well. (share some of them in person) It needs to be more detailed.
  • 4 important documents
    • Profit and loss
    • Balance Sheet
    • Cash flow
    • Break even
  • Overdraft
  • Create 2 SWOT analysis
    • 1 about the product
    • 1 about the market


Reflection

The day for the first meeting I couldn't attend. Yet, I have been notified with the things that were discussed at the meeting.

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