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Chocolates For

Hope!
Buiness Report
Website:
www.chocolatesforhope.weebly.com
Facebook:
www.facebook.com/chocolatesforhope

Ciara Lavin &


Megan Reilly

Table of Contents

Section 1 - Idea & Name -------------------Page 2


Section 2 Summary ------------------------Page 3
Section 3 - Business Structure
--------------- Page 5
Section 4 Product/Service
----------------- Page 7
Section 5 Marketing/ Promotion
---------- Page 11
Section 6 Finance -------------------------Page 16
Section 7 - Review/ Conclusion ----------Page 19
Appendix 1 Questionnaire----------------Page 19/20
1

Appendix 2 Promotional Poster


---------- Page 21
Appendix 3 Brochuere for
Suppliers-----Page 23/24

Section 1 Idea and Name


Chocolates for Hope (CFH) is the name for our Enterprise
Company.
The two involved in the Business are Ciara Lavin and Megan
Reilly
How we got the name Chocolates for Hope:
We brainstormed for ideas for a couple of weeks putting together
different aspects of the business. We came up with another name
Choc&Tea but we decided against the name because we werent
selling the tea outside of the school community and we thought that
our potential customers would think the name was senseless and
purposeless.

Some of the factors we considered when we were naming our


business were:
If the name would be too long winded
If people understood the name and what we are selling
We used an Acronym for it CFH (Chocolates for Hope)

We thought the name would be memorable because CFH


sounded similar to CFC (Chelsea Football Club)
The idea of the business is to:
Sell chocolate bars for the Hope Foundation. These bars are Butlers
Chocolates and sell for 2 each. The money goes out to Children in
Calcutta. We also sell the bars along with tea/coffee in The Home
Economics Room on a Wednesday and Thursday
Our initial idea was to:
Sell a ready- made baking mixture of the dry ingredients of different
baking products in jars for children, but after we carried out our
Market Research (Section 5) we realised that not many people were
interested in purchasing them.
The progressions of ideas for our business were:
To sell the ready-made baking mixture of the dry ingredients.
To sell the Butlers Chocolate Bars for The Hope Foundation

Section 2: Summary
We believed that choosing the Butlers Chocolate bars was a brilliant
idea because:
We were helping a very important cause
There is currently a very low selection of Butlers
Chocolates in our locality. We believed that this reason
would increase our sales because Butlers Chocolates
are of a very high quality.
We are promoting The Hope Foundation and the work
that they carry out.

We got our idea from when we went to Butlers


Chocolate factory on a Transition Year Friday
Activity. We learned that butlers make
chocolates to support The Hope Foundation.
Immediately we wanted to get involved as it is a
very good cause. We also knew that selling hot
beverages is very popular in our school.
Consequently we decided in addition to selling
the Butlers Chocolate bars we would sell Tea
and Coffee and Lunchtime two days a week in
the Home Economics Room.

Skills group members already Skills that we have learnt so


had:
far:
Communication skills
Organisation skills
Time management skills
Public Speaking skills

Increased IT skills
Teamwork skills
Advertisement skills
Leadership skills

Our customers/ target market were:


Students, teachers and various staff members in Carrigallen
Vocational School.
Customers in the following shops:
1. McDevitts Pharmacy in Ballinamore, Co. Leitrim
2. Murphys Newsagents in Ballinamore, Co. Leitrim
3. XL in Ballinamore, Co. Leitrim
4. Ninas Pizzeria in Ballinamore, Co. Leitrim
5. McCanns Centra in Carrigallen, Co. Leitrim
6. Mastersons XL in Carrigallen, Co. Leitrim
Various family members of both Ciara and Megan.

We promoted our product by:


Word of Mouth
We placed posters around the school
We made announcements to all of the classrooms in the school to
promote our business.
We set up a Facebook page so that people could message us to
purchase a chocolate bar and where the bars are available.

We set up a website to promote our business and The Hope


Foundation. We also composed a bit about Butlers themselves and
some of their work with The Hope Foundation.
We sold our product on a Wednesday and Thursday at Lunchtime in
the Home Economics Room in our school.

One of the biggest risks that our business took was committing to
selling 640 chocolate bars for the Hope Foundation. We werent sure
if we could sell all of the bars but to date the 16/02/2015 we have
sold over half of these bars.
Some of the difficulties we have had to overcome are:
Choosing when and where to sell our product:
When we were choosing possible and suitable locations to sell our
product we thought about all the available companies around our
local area that would sell our Butlers Chocolate bars in their
businesses. Thus we picked seven shops and asked permission to
sell the bars there and thankfully they all agreed.
In school we decided that the best place to sell our product would be
in the Home Economics room as it had all the facilities we needed.
We decided to sell the Bars along with the tea and coffee at
lunchtime on a Wednesday and Thursday to give students both
notice and opportunity to purchase our product.
Slow growth / advancement with our product in the early
stages:
We had a very slow growth in the beginning of the Student
Enterprise Competition because both of the group members had
other various projects and assignments to control and complete.
Neither of us had the time to be working on the business.
Nonetheless we both established time for the business two weeks
before the Christmas Holidays. We then handed out questionnaires
outside bingo in Drumreilly and Carrigallen to see who would be
interested in purchasing the Jars of the dry baking mixture. We then
recognised a problem; very few people were interested in buying
this product. Thus we decided against the ideas of selling the jars.

Section 3: Business Structure


Group
Member 1

Chocolates for Hope (CFH)


Ciara Lavin
5

Member 2

Megan Reilly

The Roles in Chocolates for Hope:

Managing Director- Ciara Lavin & Megan


Reilly
Quality Control - Ciara Lavin
Marketing & Sales Manager - Megan Reilly
Finance Manager- Ciara Lavin
Secretary & HR Manager Megan Reilly

Ciara Lavin
(Managing
Director)

Megan Reilly
(Managing
Director)

Finance
Manager

Secretary
and HR
Manager

Quality
Control
Manager

Marketing
and Sales
Manager

Marketing and Sales Manager Role Megan Reilly:


Some of the work Megan Carried out was:

Megan has a high standard of customer relation skills therefore


we decided that she would be the superior in dealing with our
customers/ target market.
Megan developed the marketing strategy and plan.
Megan along with Ciara (Finance Manager) budgeted the cost
of the supplies needed for the tea/ coffee and they decided on
a price for it.
Megan made sure that the bars were delivered on time.
Megan also decided on the shops that we could target on to
sell the bars in.

Finance Manager Role- Ciara Lavin


Some of the work that Ciara carried out as the finance
manager was:
Ciara worked out the cost of the production materials that were
necessary for selling the tea/coffee in the school.
Ciara designed a cash flow forecast for the businesses costs,
incomes and expenditures for the start-up and running of CFH
Ciara along with Megan decided on a cost for the tea in the
school and if the business could afford to give out free tea to
every purchase of a bar.
Secretary& HR Manager Role: - Megan Reilly
Some of the work Megan carried out as the Secretary & HR Manager
was:
Megan kept a diary of all the business activities such as:
Where the bars were being sold
How long it took for a box to be sold
The dates that the enterprise was selling in the school
Megan was in charge of communicating with all of the
businesses that are supplying our product.
Megan takes the minutes at all of our meetings and makes
sure that we dont go off discussion.

Section 4: Product / Service


7

Our product is a bar produced by butlers to raise money for the hope
foundation. The bars sell for 2 a bar. We feel privileged to be a part
of this foundation raising money for a good cause.
We also sell tea and coffee at lunchtimes at school. We
give a free cup of tea/coffee to every bar that is
purchased. We also sell tea and coffee separately at a
reasonable price of 1. This is to cover to cost of the
necessary materials to produce the tea and coffee and
any other costs that the business has.
The fact that the bars are raising money for The Hope
Foundation it makes our customers feel better that
they have contributed to the foundation. We knew from
past enterprises in the school that hot beverages would
sell because there is no such facilities available in our
school so this would benefit our business greatly.
We contacted The Hope Foundation and we
explained that we would be interested in raising money
for their charity. The supplier sent out 32 boxes (i.e.
640 chocolate bars) and they were very appreciative towards us.

Some of the difficulties we came across were:


8

Dividing the workload evenly among group members:


Although there are only two of us in the group we found it difficult to
divide the workload evenly. We both felt as if the other person had more
work to do. As a result we then decided to do most of the work together.
The resolution was that we meet up after school at either one of our
houses and work on the enterprise. Thenceforth we got together normally
on a Wednesday evening and on a Saturday.

Creativity Problems Coming up with the initial business idea


At the beginning of the year we had by no means any innovative/ creative
ideas. We then got talking to some of the past students of the school and
they gave us some pointers on how to create/ produce a good idea. We
followed their pointers accordingly but we were still having difficulties
about an idea by the October midterm. We then came up with the idea of
selling the dry baking mixtures in jars. We thought that this idea was
extraordinary, although our market research portrayed it to us differently.

Weaknesses
Not
Not a
a large
large variety
hot beverages.

variety of
of hot
beverages.
The
The idea
idea isnt
isnt very
very innovative
innovative

Our products
products weren't
weren't being
being sold
sold in
in school
school
Our
before us.
before
us.
We
We had
had the
the opportunities
opportunities to
to sell
sell in
in

different shops.
shops.
different
There
There isnt
isnt a
large selection
of Butlers
Butlers

a large
selection of
Chocolates being
being sold
sold in
in our
our locality
locality
Chocolates

Strengths

our
Use
Use school
school facilities
facilities for
for selling
selling our
product.

Getting to sell in local businesses


Expanding
Expanding our
our business
business to
to local
local national
national
schools,

Lower
Lower priced
priced chocolate
chocolate bars
bars on
on the
the market
market

Lack ofexperience to do with businesses in


the group
group
the

Opportunities

SWOT Analysis

Threats:

Unit Prices for the Chocolate Bars:

Each bar cost:


Butlers receive:
The Hope Foundation receives
Fixed Costs per unit

0.51
1.49
2.00

Variable Costs per unit

0.00

Total Cost per unit

2.00

Who are your competitors and what products do they offer?

Our competitors are:


The Tuck Shop in school
Other chocolate bars on the market
Other enterprise groups in our school
The Tuck shop in our school sells crisps, drinks and chocolate
bars at a very reasonable price. We were told by students that
are bars were too expensive at the beginning but when we
started to offer the free tea our sales increased dramatically
from both students and teachers!
Other chocolate bars on the market are generally cheaper than
these, but what our enterprise benefits greatly from is that
Butlers Chocolates are of such a high quality in addition to the
chocolate bar being larger than most other bars available on
the market.
Other enterprise groups are selling sweet bags and having
bake sales so this has an effect on our sales of the week that
they are holding their sales. Although students were still
looking for our chocolate bars in addition to their bags of
sweets and bake sales.

10

Section 5: Marketing/Promotion
Our target markets were:
Our fellow students, teachers and various staff members in
Carrigallen Vocational School.
Family members of both group members
Customers in the following shops:
1. McDevitts Pharmacy in Ballinamore, Co. Leitrim
2. Murphys Newsagents in Ballinamore, Co. Leitrim
3. XL in Ballinamore, Co. Leitrim
4. Ninas Pizzeria in Ballinamore, Co. Leitrim
5. McCanns Centra in Carrigallen, Co. Leitrim
6. Mastersons XL in Carrigallen, Co. Leitrim
We retrieved our product by contacting The Hope Foundation Office
in Silverdale, Grove, Ballinlough, Cork. We emailed them telling them
that we were very keen on selling their butlers products in our
school and in our local area. They were delighted that we wanted to
use our enterprise to raise money for The Hope Foundation.

What market research did you carry out? Include graphs of your
findings.
Primary Market Research
Questionnaires
Face to face questions

Secondary Market Research


Online Research
Contacting The Hope Foundation

Most groups choose to complete a questionnaire/ survey (Appendix


1)
We choose to carry out a questionnaire / survey on our initial idea
because we felt it was:

11

Cost Effective: As we didnt have a large amount of finance when


starting the enterprise we thought that this would be one of the
most cost effective methods of conducting market research. We
printed off 100 questionnaires to hand out at Bingo in Carrigallen
and Drumreilly.
Easy to Analyse- We analysed the results on Microsoft Excel as it has
an excellent variety of charts.
Reduces Bias because we carried out the survey at Bingo in both
Carrigallen and Drumreilly we covered the surrounding areasBallinamore, Arvagh, Aughawillian, Corlough, Fenagh, Killeshandra,
Moyne, Cloone, Aughavas, Newtowngore etc..

Results of the A Bakers Jar Survey...


Results of "A Baker's Jar" Survey..
80
70
60
50
40
30
20
10
0

74

70

26
Yes

22

0
No

Maybe

12

Would you pay X amount for the mixture?


100%
90%
80%

34

70%
75

60%

91

50%
40%
30%

66

20%
25

10%
0%

9
2-3

3-4
Yes

4-5

Column1

Sales

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

PRICE
We didnt decide a price for the chocolate bars; Both Butlers and
The Hope Foundation compromised a price for the chocolate bars.
Each bar costs 2, 0.51 of each bar goes towards Butlers for
producing the bar and the other 1.49 goes to The Hope Foundation.
13

Where does the 2 go?

Butler's; 26%

Butler's
Hope
Foundation

Hope Foundation; 75%

Break-even Pricing:
We decided to sell the tea/ coffee at 1 in order to cover the costs of the
ingredients, producing the posters, fuel costs and labour costs of both team members.

PROMOTION
We promoted our business through six different strategies. These
included...
Word of Mouth: A lot of students were talking about the chocolate
bars and how delicious they were. They then enlightened other
students of our products.
We placed posters around the school informing students when,
where and how much our product would be sold and who we are
selling the product for.
We made announcements to all of the classrooms in the school to
promote our business. We told them when and where our products
would be sold and for how much.
We set up a Facebook page so that people could message us to
purchase a chocolate bar and where the bars are available.
www.facebook.com/chocolatesforhope

14

We set up a website to promote our business and The Hope


Foundation. We also composed a bit about Butlers themselves and
some of their work with The Hope Foundation.
www.chocolatesforhope.weebly.com
We sold our product on a Wednesday and Thursday at Lunchtime
in the Home Economics Room in Carrigallen Vocational School.

Our place
We sold our products in the Home Economics room as it had all
the facilities available. We also sold the bars in seven
businesses across Carrigallen and Ballinamore. These
businesses include:
1. McDevitts Pharmacy in Ballinamore, Co. Leitrim
2. Murphys Newsagents in Ballinamore, Co. Leitrim
3. XL in Ballinamore, Co. Leitrim
4. Ninas Pizzeria in Ballinamore, Co. Leitrim
5. McCanns Centra in Carrigallen, Co. Leitrim
6. Mastersons XL in Carrigallen, Co. Leitrim

Our Packaging
The packaging of the chocolate bars is orange and white with
both the Hope Foundation logo and the Butlers Chocolates
logo.
15

Section 6: Finance
To set up our business we had to:
Both Ciara and Megan contributed 20 in setting up the
business.
Start-up finance from the County Enterprise Board

Cash Flow Forecast of Income and Expenditure to date


17/02/2015:
Oct
No. of Units

Income

Nov
0

Dec
0

Jan

Feb

Total

250(bar 140(bar 390


s)
s)

Sales

556.80

315.20

872

Investments

40

40

40

40

Finance from CEB

16

Total Income

40

Labour

Posters/Printing

556.80

355.20

952

24.24 24.24

48.48

48.48

145.44

30

13

43

Raw Materials

35

25

60

Equipment

Total Expenditure

54.24 24.24

96.48

73.48

248.44

Income less
Expenditure

40

(54.2
4)

(24.24)

459.52

281.72

702.76

Opening Balance

40

(14.24)

(38.48)

421.04

Closing Balance

40

(14.2
4)

(38.48)

421.04

702.76

702.76

Expenditure

Sales

November

February; 36%

December
January
February

January; 64%

17

SECTION 7
Review/Conclusion
How we got on:
We both feel that we worked very well together. We were very good
friends before the enterprise started and thankfully we are still good
friends. We both hope to continue selling the bars and hot
beverages over the coming months. We both wouldnt mind working
with each other again as we both know that the other group
member is very hardworking and are determined to both help the
charity and to be successful in the Enterprise Competition.
Like most of the other Enterprise groups we did have to overcome
difficulties both working as a team and working individually in the
enterprise. Some of the difficulties we had to conquer were:
Creativity Problems Coming up with the initial business idea
Competition
18

Slow growth / advancement with our product in the early


stages
Dividing the workload evenly among group members
Choosing where and how to sell our product
We solved all of our conflicts by having meetings and conferring with
the other group members. We always sorted out the problems that
arose together as a team. We never made decisions on an individual
basis.
We have decided to keep trading as a business as we are delighted
to be helping out such a worthy cause. We are both keen on
continuing to help The Hope Foundation. The aim of our
Enterprise was not to achieve a profit. Our aim was to raise money
for The Hope Foundation. We have established a recognised name
and reputation in our locality.
The most important piece of advice we would give to other students
that are thinking of participating in the SEA would be to create or
produce a product that you think would succeed regardless of what
other people say. Other advice we would give to students would be
to:
Set up your business early on in the competition. To establish
your business in, or around September.
Work on your own initiative. Dont wait for your teacher to tell
you what to do, work on it by yourself.
Make sure you are confident on who you are going into
business with.
Make sure that the work is divided evenly throughout the
group regardless of who says what.

19

A Baker's Jar Questionnaire


We are selling the dry ingredients of various baking products. We would be very grateful if you
could take the time to fill out this survey. Thanking you in advance.
Are you male or female?
Please tick one...
o
Male
o

Female

What age are you?


o
30-35
o

36-40

41-45

46-50

20

51-55

56-60

61-65

66-70

71-75

76-80

Other:

Do you like baking?


o
Yes
o

No

If yes, how often do you bake?


o
At least once a week
o

At least once a month

Often

Seldom

Rarely

Never

Would you be interested in purchasing our ready-made baking mixture?


o
Yes
o

No

Maybe

If yes, how much would you pay?


o

2-3

3- 4

21

4-5

Other:

Submit

22

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