According to the words of a great management consultant Peter Ducker, ‘Profit for a company is like oxygen for a person, if you don’t have enough of it, you’re out of the game. But if you think your life is about breathing, you’re really missing something’
We, the young entrepreneurs of Fun mun the shakes station work for three P’s- People, Product and Profits. We strongly believe that the third ‘P’ cannot be achieved if you do not work hard for the other two.
So the mantra which works for us is to strengthen our team and deliver best quality shakes which in turn gives us the two very important things- Satisfaction of our customers and PROFITS.
After many healthy group brainstorming sessions and surveys done with our customers, Fun Mun came up with policy set up which comprises of decisions regarding setting up of our vision; duties delegated for collecting orders, preparing shakes, calculating expenses, procurement of raw material etc. and where and how to use the profits.
Our day starts with collecting the orders which usually takes place a day prior. After the collection of orders estimates are done regarding the purchasing of raw materials.
Our team mates sit together to calculate the cost involved in procurement of raw material.
When the shakes and corns are prepared, we keep in mind that no wastage is being done.
The orders are delivered by our two swift mates.
At the end of the day, money collected is counted. Our mates Samarth and Pranay always ensure that everyday profit is calculated by deducting our expenses from the income of that particular day. They maintain the record of each and every thing.
We have expanded our business by setting up a brain games station along with the shakes station. The profit earned from this stall is also invested for running and maintenance of shakes station. The winners of the games in turn, gets shakes and corns as rewards. The interdependence of both the stalls motivates our team to work equally hard for both
The team gathers weekly to discuss about the targets for the next week. Changes required in menu, ingredients and duties are discussed. Many a times, we do not fall on the same page which is often resolved with healthy discussions.
The days when the profits are high we pat each others’ back and when they are low we work hard for the next one. Many a times, we reward ourselves by relishing our own delicacies proving to be a great motivation for all of us.
We also do monthly surveys, by which we come to know the preferences of our customers, their view point about our station and the changes required to be done.
In our month-end meetings, we ensure that the changes suggested by our customers are done.
In order to keep up with the pace of other enterprises running in different schools and also to cater to different age groups, we have made several changes in our pricing policy over the years. The prices of the shakes which were earlier Rs. 20 have now been reduced to Rs. 10 which have resulted in attracting more customers from lower grades too.
Calculation of monthly profits are also done and decisions regarding where and how to use them are taken. Every month,we take aside the money we require for raw materials and try to come up with different ideas to wisely use the rest of the money.
After the mutual consent of the team, the money is used for different purposes like donations, buying books for class library etc.
This year we have added new feather in our cap by coming up with new ideas to raise the capital of our business. We put up a special Diwali crafts stall in which hand painted Diyas and idols of Lakshmi Ganesh were sold. We have also started with newspaper collection week, where extra old newspapers were collected and sold to scrap collectors.The money was added as additional capital in our business.