As requirement for finals, of the subject entrepreneurial management, I, Armie Aguirre, together with my groupmates, Rosselle San Juan, Jerlynne Valenzuela, Beverly San Juan and Ian Maverick Pantaleon created a temporary merchandising business where we sell products of our choices at Tomas Claudio Memorial College last October 8 up to October 10, 2012. We call this temporary business BENCHFOOD INCORPORATED.
We have contributed 200 each member as capital and agreed to sell, UKOY (deep-friend shrimp patties), Candy mixes and other merchandises such as clips, pony tails and hair bands.
We start to display our products at the bench of TCMC at 9 am on October 8, the first day of our selling activities, We were able to borrow a table from school. The first day of selling doesn’t go well, we were only able top generate a profit of less than seventy pesos because we also have competitors from other groups and other classes of entrepreneurship.
On the 2nd day, We used the proceeds of our sale on the first day to purchase new products to sell. Knowing the products of our competitors and the needs and want of our target market, we decided to chnge the products that we sell. We then purchase convenient foods like chicharon, cassava chips and shing aling, we were able to capture the market of High school students as well as those college students. This day we were able to generate less than Three Hundred Pesos.
There are various strategies of expanding one’s business. The decision of which strategic move to choose is generally depends on internal conditions of the business in discussion. There are companies that manage to stay in their local markets and continue to harness growth from it, while others discover potential markets in foreign countries that drive them to expand. In the case of business ...
On the last day of our selling activities, We decided to sell “dalandan” as requested by our professors, We again used the proceeds our sale from the second day to buy products to sell. We put all our efforts and skills to sell everything that we have in our inventory and we are able to generate a profit of more than Seven Hundred. The blow up of our profit is because of some consignment products that we were able to acquire and we only paid up the cost of those product and the mark up price that we put into it was added to our profit.
This 3days selling experience was quite fun yet so tiring but we were able to learn how to be entrepreneur for even a short time and thats a credit to our most dedicated Entrep Professor Ms. Lalaine Toriado.