Kathryn Judy and Aleah Vose
Six Business Activities
1. Generating Ideas:We have a chocolate shop called Choco Loco. We developed it when we had an idea for a cheaper and more refreshing piece of chocolate. We use real fruit to make each individual piece of chocolate have a fruity, tasty, and creamy center. We spent weeks going around town tasting different chocolates from different chocolate shops around our area and kept specific notes about each one. We used the notes to make sure that our chocolate was more unique.
2. Raising Capital:
We got our money from financial investors. We had a fundraiser, selling our chocolate, so we could raise enough money for our store and supplies.
3. Employee & Training:
We train our employees how to work the machines we have. We want to give young people that don’t have college degrees a chance to work.
4. Buying Goods & Services:
We get our food supplies from GFS and our cleaning supplies from SAMS Club. Our office supplies will come from Staples.
5. Marketing Goods & Services:
We will market our business by having our commercial played on TV, our ad in the local magazine and newspaper, and by handing out flyers. We also have a new website up and a big following on Twitter, Instagram, and facebook.
6. Maintaining Business Records:
We have a computer that keeps track of everything that we have sold and we also hire someone that tracks all our orders and payments.
Why'd We Choose a Partnership?We are choosing to do a partnership because we both came up with the idea for this unique chocolate. We wanted to both split the costs and incomes of everything as well as share rewards. We both have different strengths and weaknesses so we will be able to help each other out.
Advantages and Disadvantages:
The advantages to our Partnership is two people contribute to the investment and you get the expertise from more than just one person. Disadvantages are that we don’t have protection for personal assets and if a partner leaves or dies then the partnership is dissolved.
1. Increase our advertising budget each month for the next 3 months.
2. Create more flavors of chocolate.
3. Listen to customer feedback.
4. Post on our facebook 3 times a week.5. Increase employees pay.