Pumpkins and Apples! GALORE!
By: Kaden Keran and Katelynn Rentschler
Six business activities!
1. Generating Ideas: Come explore the wonderful and exciting Pumpkins and Apples Galore patch. What a great way to spend those chilly fall days by coming out and having some fun. You will have so much fun picking apples, picking pumpkins, finding your way through the Corn Maze, and enjoying some warm apple cider and GINGERBREAD MAN! In October which is our most popular month you can enjoy some pumpkin painting, jack-o-lantern making, hayrides, and a good ol game of Zombie Paintball!
2. Raising Capital: We needed about 320 acres of land. Which costed us $160,000, so we both saved up $40,000 and asked for donations wherever we could. We would do a lot of fundraisers like car washes, bake sales, kidcare. After all that fundraising we still didn’t have enough to start out. So we asked our family and friends to help out a bit and they all gave us about $60,000, which then we had the money to buy the acres. Then we saved up some more money to buy the Apple Trees, Pumpkin seeds, hire somebody to cut out a Corn Maze, supplies, and marketing. After spending about $200,000 we finally had enough money to start out.
3. Employees & Training: To work at Pumpkins and Apples Galore Patch. You need to be good with dealing with kids, not minding to work in the cold, and not caring to dress up like a zombie and get hit by paintballs. We will pay $18.50 for part time and $22.50 for full time. You will have to be able to work Thursday 4-7pm and Friday-Sunday 11am-8pm. Theres not really much training that is required to work at Pumpkins and Apples Galore. You just have to be 16 and a really good worker.
4. Buying Goods and Services: We would need to buy the best pumpkin seeds and apple seeds to be able to plant our crops. But after then, we won’t need to buy seeds as often because the crops will give us the seeds we need. We will also need to buy fertilizers, natural pest repellents, water, and ingredients for goods such as pumpkin and apple pies, apple cider, and more.
5. Marketing Goods and Services: We will be marketing through the newspaper. People read the newspaper almost everyday. People usually look at the ads section to find good deals and coupons. If we market through the newspaper then people will surely see what we have to offer.
6. Maintaining Business Records: We will keep track in our record book. It will help us keep track of expenses, money made, taxes, and stocks. This book will be done either electronically or hand written. Orders will be kept separate to keep from confusion between the two.
We are a partnership. Here are some pros and cons:
They are simple and flexible to run.
Usually less expensive to form.
There is no taxation to the business itself and go to the individual partners.
Shared cost of start up.
Mutual support and motivation.
We are personally liable for the business such as debts.
Debts affect both partners even if its only one of the partners fault.
Having general partnership still means assumer 100% personal liability.
Without careful forethought, and planning, it can go wrong very fast.
Friendships could not survive the partnership.
half of the money back to us by the end of the year
have a 90% customer satisfaction rate by 1 year
have all the same/new customers come back every year
have more locations after the 2nd year
have more fun activities for kids to do by the end of the year
- to be making about $200 in the first week