My first venture idea would be opening a bakery in David Thompson Secondary School. Why would I open a bakery at a school? I would open it because who doesn't have a sweet tooth. Having a bakery in a school is the best location because the youth are the perfect costumers. But it's also more profitable too if a bakery is to open at a secondary school rather than elementary school. Why? Because the school board would be more likely not want to elementary school kids having a lot of sugar and also wasting a ton of money on sweets. For secondary school students, they have the money to buy from the bakery daily and no big objections from anyone to why the school is selling sweets. As time consuming it will be to bake variety of things to give the students choices to pick from it will be even more profitable at the end.
My second venture would be to towards the teachers. Teachers love coffee so why not a coffee shop right in the school. Teachers are always busy either marking or teaching their classes that they just don't have the time to buy or make some. Rather than taking extra time to go buy it from various places such as Starbucks or Tim Hortons they can easily purchase it from the school. No hassle or fuss for the teachers If there running late to school and they still need to buy to buy their coffee they can easily without no rush purchase it from the school. To the teachers advantage there is a delivery system where they can just pick up and dial from their classes and order the coffee they want. It would be really profitable I already have given my reasons to why it would be profitable. If to compare which one of these venture ideas would sell more I would have to say the bakery idea because kids tend to purchase items more than teachers and don't mind spending money on sweets daily.
My second venture would be to towards the teachers. Teachers love coffee so why not a coffee shop right in the school. Teachers are always busy either marking or teaching their classes that they just don't have the time to buy or make some. Rather than taking extra time to go buy it from various places such as Starbucks or Tim Hortons they can easily purchase it from the school. No hassle or fuss for the teachers If there running late to school and they still need to buy to buy their coffee they can easily without no rush purchase it from the school. To the teachers advantage there is a delivery system where they can just pick up and dial from their classes and order the coffee they want. It would be really profitable I already have given my reasons to why it would be profitable. If to compare which one of these venture ideas would sell more I would have to say the bakery idea because kids tend to purchase items more than teachers and don't mind spending money on sweets daily.
I definitely agree with you on both ventures. I think that the Bakery idea will most likely profit more because there are more students than teachers. The Bakery should be cafeteria because that is where most people are. The Bakerys' competition would be the vending machines and cafeteria because both these locations contain some baked goods. To prevent further competition, I would make the price for a cookie lower than in the cafeteria/vending machine.
ReplyDeleteI really like the 2 venture ideas you came up with because it will definitely attract students and teachers to buy the products. I also like the fact that you don't need to advertise so much to attract them because we, consumers, can not resist it. For the bakery idea, some people may have a problem for the pastries is that it is very unhealthy. How would you make it healthier?
ReplyDeleteAlso coffee isn't exactly the healthiest, so howu would you make your coffee stand out more and possibly healthier than the other stores?
-Anna Zhu
I think these would be very successful ideas outside of school, but not inside the school. I believe the ministry of Education would probably not allow the sales of more calory inducing goods. As for coffee, I don't think teachers will buy alot hence I believe teacher's get free coffee in the staff lounge.
ReplyDeleteI don't think the coffee venture would work with the teachers because they all get their coffee from a dispenser anyways. However, with the bakery treats, it might work as a venture but I would worry about the Ministry health regulations because baked goods are generally filled with sugar. You could get past this possibly by using whole wheat flour and half of the sugar. I'd also like to add that your main competitor within the school would be the cafeteria. People might be more willing to buy food from the cafeteria because they know that the money goes back to the school.
ReplyDeleteThe bakery business is a very good idea as there is hardly any competition around the school area. Also, if the Ministry of Health is a problem, baked goods do not necessarily have to have alot of sugar in my opinion. You could bake and sell other products such as whole wheat bread for example, although I do understand the trade off between customer needs and health regulations.
ReplyDeleteI don't think the coffee idea would work out too well because teachers can already get coffee from the teachers lounge.
The bakery idea is a nice idea. The only little problem is that the health policy which would limit the breads that you can sell. But I have to agree about being profitable.
ReplyDeleteThe coffee idea is good but I thought that the teachers get the coffee for free in the staff lounge. Unless you can sell coffee that has different varieties so the teacher would have more choices to pick.
I personally think that these two ideas should be combined into one whole one. Open up a cafe and you can totally expand your overall target market by doing so. However if you're target market for coffee is just teachers, then you're pretty much stuck since they get a good supply of it at the staff lounge.
ReplyDelete- Tim
I would have to agree with you for both of the ideas. I think both of the ideas are simple and desirable for the target market you decided. A lot of teachers and students buy coffee or hot chocolate in the morning to fresh themselves and having a bakery in the school will make their life so easy. Even when they are running late and they have no time to grab a cup of coffee. Now, they will always have an option of grabbing a coffee and muffin anytime. You can definitely make profit by these ideas.
ReplyDeleteNitasha Sharma
This comment has been removed by the author.
ReplyDeleteBoth your venture idea are very appealing. The bakery idea is somewhat similar to mine as i was planning to open up a samosa stand in the school. Our target markets are also the same!
ReplyDeleteWell besides that, I totally love the bakery and the coffee idea because both ventures will gain you a huge amount of profit as well as fulfilling the desires of most staff and students. One factor you might have to consider is delievery and time. How are you going to get the cofee equipment along with all the sweets to the school? Also, since the baked goodies will be really high in demand, you'll have to be baking lots of them. How are you going to manage the time required for so much baking? You should reconsider that aspect, but apart from that, both your ventures have a very high potenial market in the business resulting in a high profit rate for your business!
The bakery idea is always good but you haven’t mentioned if it were home-made or if you’re going to purchase it from somewhere else? Where are you going to be selling your food? And where are you going to stock or store your food items when not in “store hours”?
ReplyDeleteFor the second venture idea, I think teachers already have enough coffee as it is in the staff lounge or staff cafeteria room. I also think that it is very rare for them to go out and purchase their own coffee because it is very time consuming so they stay at school already as it is. But I like the idea of delivering coffee to them, would that mean providing your own coffee? How are you going to make coffee in the school? Are you going to provide for yourself to sell? Who’s going to deliver to teachers during class hours?
Overall, I think your venture ideas are okay Asma. Good luck on your venture! :)