The first week of School of Entrepreneurship has come to an end and all the students have been immersed into the mindset of an entrepreneur with excitement, eagerness and a bit of confusion..!
The first challenge we’ve had to encounter is to manifest a coffee-selling company for one week, with the goal to earn as much money as possible. No clear instructions were given about where, when and how to sell coffee, which gave us the freedom to use our creativity to make our companies profitable.
My company consists of David (Head of Finance and Barista), Farangis (Head of Logistics and Partnership) and myself Agnes (Head of Documentation and Marketing). As soon as we were informed about the project we sat down to make a first business plan.
The first thing we started to discuss was the target group of our company and where the greatest need would be. In our minds the answer was simple- students!!! For students coffee is always a good idea, especially in between lectures, and since we are students ourselves we thought it would be an easy group to reach. We also considered the best location for our sales and where the need would be the greatest and got to the conclusion that the student Aula at Polacksbacken was a good place to start, since there are no convenient cafes nearby.
We decided to buy cheap coffee and brew it ourselves with a coffee machine from home to keep the costs low. Additionally, to spice up the coffee even more and give the customers a good café-like experience we brought milk foam machines from home so that students could get foamed milk in their coffee. Also, since many students appreciate vegan products nowadays, and are more conscious about the environment we only served oat milk with the coffee.
In the mind of a student everything cheap is good and since the coffee we bought was quite cheap we have started off with a low price. The price of a plain coffee has been 5 sek and for coffee with foamed milk the price has been 3 sek extra, but later on in the project prices might as well increase.
Since we were not allowed to tell people that the project is a school project we wanted to come up with a good reason for people to actually buy coffee and maybe even donate more money. Also, since none of the group members wanted to keep the money for themselves, we decided to let the profit be donated to a charity organization. The organization that we chose to support and donate the money to is called GAPF (Glöm aldrig Pela och Fadime), since Farangis has good knowledge about their cause and has good connections to the board of the organization. The organization works against the honor culture in Sweden and is especially located in Uppsala, which we thought would be relatable to the students who live here.
Moment of truth…
The morning after we got the challenge, our company stood ready for the first round of sales outside the Aula. We had looked up what lectures were going on and decided to be there for the first break in the morning at 9.00 when many first year engineering students had their joint math course. Before the break we brewed the coffee and put it in a coffee container so that it would be ready in the break.
End of the day results
The first day we sold coffee during three breaks between 9.00-11.15 outside the Aula, and in between the breaks we brewed new coffee and set everything up for the next round. In total, we sold 57 cups during the first day and collected 409 sek in total! The profit on the other hand was 34 sek, since the cost of the company was 375 sek so far. However, the result was better than we expected and we are excited to see the end results of our one week business…!
To be continued… 🙂