flix@cyberp food fest full report - paperwork

8/7/2019 Flix@CyberP Food Fest Full Report - Paperwork

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Actual Operation

Flix Corporation had operated food and beverage business, the business had operated

from 20 December to 23 December 2010 in Cyberpreneurship Food Festival 2010. We opened

our business at 10 am and closed at 4 pm as during this period of time the demand for fast and

healthy food/drink are very high because of same hours for most of the class. The business has

operated at Misri Plaza, Multimedia University Cyberjaya which is a strategic location because it

is located at the center of several building in this campus such as SitiHasmah Digital Library,

Multi Purpose Hall, Tun Chancellor Grand Hall, Faculty of Information Technology and Faculty

of Management. Beside of our stall that we had opened at Misri Plaza, we also provide delivery

services within the campus for the customers that make order from their phone. The delivery

services are done by using bicycle to save our operation cost and at same time it is also

environment friendly.

The Flix served fast and healthy food/drink, some of our products is already readymade

and others we made when the customer make an order as we try to give customer a fresh and

healthy product within minimal of time. We lived with our motto which is grabbed and go. As

student life is important on how to use the most of their time and we had served them efficiently.

At same we also not forgot about healthy issue as student need healthy food/drink to keep their

energy and stay focused on their studies. We always kept our stall cleaned and safety for the

customer and also for our staff. The Flix had 10 staff and 2 part times volunteer that kept the

business operation run smoothly as we want our customer satisfied with our services.


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Actual Market

Market Potential

Day 1(20 December 2010)

On the first day of CyberP Food Fest 2010, we had 7 items to sell which were LongChan drinks,

Big Apple Doughnuts, curds, Mini Pizza, Tuna Sandwich, Homemade Cookies and Headscarf.

However, we only managed to sell only 5 types of items on that day. Homemade Cookies and

Headscarf were the only items that remained untouched. Furthermore, we had to close our stall

early due to the bad weather.

Day 2 (21 December 2010)

On the second day, we added new items in our market which was Hot Dog (w/o cheese) and

NasiLemak. We decided to add hot dog (w/o cheese) because we wanted to expand more in

sandwich variety. Our motto on our sandwich was You Ask,We Make because we made our

sandwiches upon customers request. It was part of our strategy to have flexibility towards the

customers. Our saleshad increased compared to the previous day due to the new items.


On the third day, we added variety buns in our sales to attract more customers. The weather was

so hot andtherefore, most of the customers were looking for drinks which were theLongChan

drinks. Unfortunately, we ran out of stocks for the drinks and therefore encountered difficulties

on getting customersfor the rest of the day.


On the final day, we had no problem selling all Big Apple Doughnuts because we had already

known the customers preference. Plus, we also managed to sell a few of the headscarf. We are

giving credits to Muhammad Fathi for helping us in getting the LongChan drinks and to

Mohamad Anwar because he helped us during our sales in the foodfest.


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Factors That Influenced Buyers Choice

Among factors that impacted on our customers choice to come toFlix Corporationsstall are the

price, quality of items, services (including exclusiveness, professionalism, and compliance with

the requirements) and delivery time. As to price and quality of products, these two are the most

important. It is vital for the companies to balance between price and quality values. We set the

price based on the quality of theitem itself.

We also have highlighted an important thing that plays important role in our market which is the

demand fromthe customers. For example, many customers have asked for the chocolate

flavoured doughnuts from Big Apple on the first day. Therefore we decided on the second day

that we will include chocolate flavoured doughnuts more than other flavours.

Other than that, we also provided customization for the sandwiches. We made custom

sandwiches upon our customers custom requests. That feature also played an important role in

our sales. Besides that, we also did deliveries to the customers. The common placeswere around

hostel areas and lecture rooms.


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Actual Financial

CASH FLOW STATEMENT

Day 1 Day 2 Day 3 Day 4

1

Cash Flow from Operating

Activities

-Cash received from customers RM400.00 RM450.00 RM450.00 RM400.00

-Cash paid for merchandise

-Cash paid for wages and other

operating expenses RM50.00 RM50.00 RM50.00 RM50.00

-Other RM20.00 RM20.00 RM20.00 RM20.00

-Net cash provided (used) byoperating activities RM330.00 RM380.00 RM380.00 RM330.00

2

Cash Flow from Investing

Activities

Cash received from sale of capital

assets (plant and equipment, etc.) RM500.00 RM500.00 RM500.00 RM500.00

Cash received from disposition of

business segments RM130.00 RM130.00 RM130.00 RM130.00

Cash received from collection of

notes receivable RM0.00 RM0.00 RM0.00 RM0.00

Cash paid for purchase of capital

assets RM630.00 RM630.00 RM630.00 RM630.00

Cash paid to acquire businesses RM0.00 RM0.00 RM0.00 RM0.00

Other RM0.00 RM0.00 RM0.00 RM0.00

Net cash provided (used) by

investing activities RM0.00 RM0.00 RM0.00 RM0.00


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3

Cash Flow from Financing

Activities

Cash received from issuing of

stock RM0.00 RM0.00 RM0.00 RM0.00

Cash received from long term

borrowings RM0.00 RM0.00 RM0.00 RM

Other RM0.00 RM0.00 RM0.00 RM0.00

Net cash provided/(used) in

financing activities RM0.00 RM0.00 RM0.00 RM0.00

Increase/(decrease) of cash during

period RM0.00 RM0.00 RM0.00 RM

Cash balance at beginning of the

day RM0.00 RM0.00 RM0.00 RM0.00

Cash Balance at end of the day RM330.00 RM380.00 RM380.00 RM330.00


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Profit and Loss Projection (4 days)

Flix Corporation

Fiscal Year BeginsDec-10


Revenue (Sales) RM750 RM800 RM900 RM1,000

Total Revenue (Sales) RM750 RM800 RM900 RM1,000

Total Cost of Sales RM300 RM330 RM380 RM350

Gross Profit RM450 RM470 RM520 RM650

Expenses

Supplies RM100 RM100 RM100 RM100

Advertising RM10 RM10 RM10 RM10

Rent RM140

Misc. (unspecified) RM70 RM70 RM70 RM70

Total Expenses RM320 RM180 RM180 RM180

Net Profit RM130 RM290 RM340 RM470


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BALANCE SHEET


ASSET

Current Asset 500.00 528.20 5,794.00 643.50

Cash and Cash Equivalents 0.00 0.00 0.00 0.00

Accounts Receivables and other 0.00 0.00 0.00 0.00

Total Current Assets 500.00 528.20 594.00 643.50

Research and Development (Web

Planning) 5.00

Property, Plant and Equipment 0.00 0.00 0.00 0.00

Accumulated Depreciation 0.00 0.00 0.00 0.00

Net Property, Plant and Equipment 0.00 0.00 0.00 0.00

Total Assets 505.00 528.20 594.00 643.50

LIABILITIES AND

SHAREHOLDERS EQUITY

Short Term Debt 0.00 0.00 0.00 0.00

Accounts Payable 0.00 0.00 0.00 0.00

Total Current Liabilities 0.00 0.00 0.00 0.00

Long Term Debt 0.00 0.00 0.00 0.00

Total Liabilities 0.00 0.00 0.00 0.00

Investment (140.00)

Retained Earnings 0.00 0.00 0.00 0.00

Total Shareholders Equity (140.00) 0.00 0.00 0.00

Total Liabilities and Shareholders

Equity (140.00) 0.00 0.00 0.00


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Break-even Analysis

Break-even Analysis

Daily break-even sales RM216.28

Day 1 2 3 4

Total Sales RM149.50 RM212.10 RM234.00 RM269.50

Capital

Used RM128.80 RM146.30 RM87.80 RM108.50

Profit RM20.70 RM65.80 RM146.20 RM161.00

0

50

100

150

200

250

300

1 2 3 4

Daily break-even

sales

Total Sales

Capital Used

Profit


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Customer Feedback Analysis


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Lessons Learned from Cyberpreneurship Business Project (CBP)

Problems Arouse During the Cyberpreneurship Business Project and Strategies on Solving

the Problem

We have finished our Cyberpruenership business activity. Yes indeed it was an experience for us

to be able to such business activity amongst friends. In every business activity, there will always

be flaws that will occur; let be it in planning phase when you execute the plan. There were

several issues occurred when we executed the plan of our cyberpruenership.

y We did not face any problem during planning phase. Everyone was so cooperative andeach and every one of us had came up with lots of ideas that finally we decided to focus

one selling foods that is easy on the go and on the side we agreed to sell hijab (tudung)

and muslimah dress.

y During the sales activity, each of us had been delegated with individuals task. Theproblem arises when we need to supervise or being in charge for the booth. There were

times where all of us were having classes at the same time; hence there was no one to

take over to do the sales activity. As a result some of us had to give in and absent from

attending the class.

y The other problem is miscommunication between members. There were times where Awas supposed to go to the supplier to get the supplies, but then A did not realised that

he was supposed to do so. As a result, another member had to last minute go and get the

supplies from the supplier.

y Overstock is another problem that we had occurred. On day two, we over purchased anitem which we forecasted would be a good turn over. Unfortunately, luck was not on ourside as it was raining on that day. Not many students drop by our booth as they usually

went back straight after they finished their class.

y Putting a price on few items to make sure that we will get a return back for the cost of thegoods. There was an item which we need to lower down the price on day two as we did


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not get much response from buyers. When we eventually lowered down the price, we

finally get the response that we targeted.

These were all the problems that we faced during our business activities. Despite of all these

problems, we did manage to pull it out and finished off the project even though the profit is not

high.


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Best Moment During the Cyberpreneurship Business Project

We were given 4 days for theCyberP Food Fest and in this 4 days period, there were a lot

of memories because each day we gainedmore experience and faced with many customers that

need to be handled with. We had some best moments during the CyberPreneurship Project. The

time that had been given was suitable and sufficient to achieve the target profit because we only

sell simple items. Our sales items were easy to get and carry to class or anywhere. Our estimated

number of customers was at least from 50 to 60 customers per day.

On the first day of our project, all of us were very excited to start our first business as we

came early in the morning around 9am to set up everything such as tables and chairs at our booth

at the Misri Plaza. Some of the group members decorated our booth nicely to look more

attractive to attract students to come and see what is happening at our booth. The achievement

that we want to get is to make the students satisfy with our products as long as they are happy

with it. As it is the first day of the project, we were all so happy to see the products that each of

our group members brought to the booth to place our products. Each of our members has their

own supplier to supply the products that we want to sell. We brought so many things and we all

together arranged all the products on the table and in the icebox. Some examples of our sales are

Big Apple Doughnuts, curds, sandwiches and cookies. Besides food, we have water bottle that

has variety of flavors. This water bottle is just like Barbicane but it is tastier as these drinks were

very famous during old times.

Beside that, we also were selling scarf and blouse for Muslims female as minor products

to see how the reception will be over this product towards the students perception. The result is

quite satisfies as there were customers that bought the scarf. For scarf we hang it to the hanger

and put all of them together at the side of our booth. We put a female doll wearing pink scarf as

an attraction for people feel want to drop by at our booth. We are not only focusing to studentsonly but we also expected the staffs and the lecturers will also drop by to our booth. These

varieties of products are very helping us in gaining profit because students not only find food and

drinks but to make them feel free to see scarf especially female students. The scarf makes our

business different from other groups because we are the only group that sell scarf. For us, this is


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our first best moment in our group because we were so excited to see customers bought our

products in this first day and the profit for first day also were quite good.

We tried our best for each day to promote our products. The quantity for each product is

not so many as we sell variety of products. So some of the products were sold out as the

customers love the products and they brought the product frequently. For example, there was no

water bottle to sell in day 4. To replace it, our group members bought new water bottles that

quite similar to the previous product because of the variety of flavors and the design of the

bottles also looks so nice and cute and we taught that customers love our new product so much.

Luckily, we managed to sell all the water bottle just in a day and we were very glad about it.

Some of our products also finished in 4 days such as curds, cookies, doughnuts as well as

sandwiches.

For sandwiches all are fresh handmade and our group member make the sandwiches after

the customers demanded for it. We helped each other to make the process fast as our goal is

serve the best for the customers need. The products that we were selling are based on students

needs which are simple and delicious for them to have a light meal. This product was one of the

favorite customers as the sandwiches were fresh handmade and all the ingredients in making the

sandwiches also finished. Then, the only different thing in our business is we were selling scarf

for female students. This scarf can attract students to come to our booth to see what is different

of our business and this can make them see and buy our variety of food and beverages. For

customers who bought the scarf, before that they tried on the doll and we as the members help

them to put on the scarf. Other than that, best moment during the project was the photographysession of us. We had a good time together taking photos with all the products as well as the

customers.

Overall, the best moment during the CyberPreneurship Project is the time all the group members

work together and did each part for the best to attract the customers to buy our products. Some of


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our friends also were very supportive and supporting us by joining to attract the customers to

drop by at our booth. They were also helped us a lot to buy our products and bring their friends

to buy at our booth. Most of the products were all finished and these makes all of us are very

happy about the feedback from the customers to our products. Furthermore, each of our group

members cooperated to make sure our business will run smoothly. Not all of the group members

were at the booth to handle the products. Some of us were attract the customers by walking

around and gave the students our flyers and asked them to drop by and have a look what we were

selling at our booth. We spread to the people about all the products by word of mouth together.

These moments were really make us closer and built strong bond among the group members.


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Worst Moment during the Cyberpreneurship Business Project

The worst moment during our CyberPreneurship business went on had something to do with the

weather and the customers. The weather for the whole week during our business that was

running was good but it was only during the first day where the weather was raining heavily in

the evening for the first day. The sprinkling of rain got into our products and some of it were

wet. People were getting lesser to pass by at the booth and the customers on that day were going

lower and we had to close our booth earlier than the time that we should.

Second worst moment was some of the customers were choosy about our products. One

of our product which is cookies were not been sold for the first day and that made us really

concerned. We have promoted the cookies to customers that came but they were only tried the

food testing. On the second day, we decided to decrease the price and customers started to buy

the cookies which were been wrapped nicely and all the cookies has been sold in that day itself.

The last worst moment that we had was during selling the curds at hostel room by room.

We had to carry the icebox that filled with many curds from the top floor to the lowest floor

which is very heavy. We were happy when most of customers like the curds that we brought but

some of the customers are rejecting and critics our curds. Some of the critics that we had was one

of the customer making the face showing our expensive price, and a group of people that

pretending not to know what curds is.

These are some of the worst moments that we had together with our group members.

However, we had been through all the ups and downs together.


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If We were Given a Choice: The Very First Thing That Weare Going to Do During

Cyberpreneurship Business Project

If we were given a choice, of course the first thing that we want to do is to make sure

every step on making up a business be taken seriously no matter it is a big or a small business.

We also going to plan as best as we can the flow and things that need to be done by our group

members to make people know about our company when we started the business. Among the

first thing to be done after making the frame work, we will list down our suppliers name

because it is easier for us to deal with each one of them so that we can really get the lowest price

to buy. Besides that, promotion part is one of the important thing need to be taken seriously so

that we can attract more customers during the business day later. We also will distribute our

company pamphlets and make promotion if possible in whole Cyberjaya. The pamphlets also

have to look interesting so that when people see it for the first time, it will attract them to come.

Not only that, our booth also will be decorated with more attractive design and colorful thing so

that it wont look bleak. Last but not least, we are going to divide the work properly so that

everyone in our group got the task evenly and to perform the task with enthusiasm throughout

the four days of our business.


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Appendices

Photos

Business Documents

Customer Feedback Forms