Last week, we were given the task of selling coffee at a public place and to be honest, we were skeptical at first about how will it go. Initially our team (Me, Pallav, Suvansh and Saksham) had decided to sell coffee at the Stockholm University in one of the weekdays. However, after much discussion, we decided to sell coffee at Lappis- the famous student accommodation of Stockholm.
We chose Saturday morning as an ideal time to sell coffee due to the fact that people (read students) generally tend to return home tired on a Friday night and the first thing they would want on a Saturday morning will be some coffee! Also, with so many students in Lappis, we felt we could attract a wider range of people there than in any other place.
Since me, Pallav and Suvansh are part of KTH Formula Student team, we saved quite a lot of money in arranging the thermos, cups and milk (from the garrage). The only thing which we had to buy was the coffee and we already had sugar cubes in the kitchen!
As per the guidelines, we accordingly set the price of the coffee as 5 SEK and accepted cash/swish.
We had only four people in the first one hour, but a change in strategy which included accepting payment by pant (cans) worked for us and after 3 hours we had sold 23 cups in total!
Little microeconomics from our venture-
Price of the coffee– 56 SEK
Other prices (milk, table, thermos, cups)– 0 SEK
Price of 1 cup– 5 SEK
No. of cups sold– 23
Price of 23 cups– 115 SEK
Total profit– 59 SEK.
It turned out to be quite a good experience and much better than what we had thought of initially. If you are from Lappis and want to make some money, you know what to do!
Thanks for reading.
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