Chilli Sauce Business Plan
2. Market
First question we want to ask our selves is “Do we want to sell the chili sauce locally or internationally or both?”. One of our big goals is to sell 100 bottles of chili sauce internationally, but we also want to sell locally. We need to survey both local and international people to determine “What taste do they like?”. We bought five different types of chili sauces from the market with different taste and style. These are the chili sauces that we tried with Liger students and staffs:
- Profile
2. Market
First question we want to ask our selves is “Do we want to sell the chili sauce locally or internationally or both?”. One of our big goals is to sell 100 bottles of chili sauce internationally, but we also want to sell locally. We need to survey both local and international people to determine “What taste do they like?”. We bought five different types of chili sauces from the market with different taste and style. These are the chili sauces that we tried with Liger students and staffs:
Liger students tasted all the five chili sauces. Each chili sauce was sample with a different meal and they submitted the survey to us how much do they like by scaling from 1 - 5 (1 disgusting and 5 perfect) with their feedback. We have some problems with our survey methods: some food didn’t match with the chili sauce; different meals, different people, and different amounts of people, people didn’t give good feedback and people didn’t want to wait in line to get the chili sauce. Here is the summary of the survey:
In this survey our audiences were Liger students, both foreign and Khmer teachers, and some of the local staff. All of these people are mostly local audiences, but one of most important audiences is foreigners especially Americans.
Right now we are making our own chili sauce and we want feedback from both local and international audiences. It’s hard to get the survey from foreigners because we don’t want to fly to other countries and spend a lot of money, thus increasing our expenses. So on our sharation there will be foreigners and Cambodian coming to this event. This is a chance that we can conduct the survey from them. We also think that next year some of students will go to California so they might get some advice from there.
Here are the questions for the next term of Exploration need to answer:
3. Business goals
In our chilli sauce business we have two main goals. The first most important goal is to pitch our business plan to the investors. If they agree and buy our business, we might sell the whole business to them or only a part of our business. As part of our pitch, we will produce 100 bottles of chilli sauces by the end of June, 2016.
These are the small things that we can do along the way:
First we were making our first chilli sauce with our first recipe as small amount because we don’t want to waste if people don’t like. Also we use the school kitchen and some help from our school chief to try our first recipe. We ordered the ingredients from the market through Liger chiefs. When the first chili sauce finished, our group let the people in our school both Khmer and foreigners taste and ask them “do you like it?”. Some people said that they liked it but some said it need to be improved.
Here is the first recipe:
( Monday+Thursday)
How we cook it?
What we are going to order:
Right now we are making our own chili sauce and we want feedback from both local and international audiences. It’s hard to get the survey from foreigners because we don’t want to fly to other countries and spend a lot of money, thus increasing our expenses. So on our sharation there will be foreigners and Cambodian coming to this event. This is a chance that we can conduct the survey from them. We also think that next year some of students will go to California so they might get some advice from there.
Here are the questions for the next term of Exploration need to answer:
- What is the law of selling in local market?
- How to bottle? Do you want to buy the designed bottle or you design it by your own? Is there any manufactory bottle in Cambodia? Glass or plastic?
- Do you want to grow the vegetables that you need by your own or you buy from the farmers? Pros and Cons?
- How to export the product? Law? Taxes?
- How do you get the license to start the business? Where?
- What is the price of the chili sauce per bottle?
- Are you going to sell to wholesaler or directly to the customers?
3. Business goals
In our chilli sauce business we have two main goals. The first most important goal is to pitch our business plan to the investors. If they agree and buy our business, we might sell the whole business to them or only a part of our business. As part of our pitch, we will produce 100 bottles of chilli sauces by the end of June, 2016.
These are the small things that we can do along the way:
- We want to make more people aware of our business. These are some ways for them to know, one is our website, and some other social medias like Liger Facebook and Liger Instagram. Marketing and advertising group is currently working on our website and putting information about our business into some social medias, so people can get some ideas about our business and our process even though we don’t have the product yet. (website)
- Our Marketing and advertising group asked our friends to help to give some ideas about the logos and the names for our chilli sauce business. As you know that we do this business in our Exploration, so the students should help us because they will take turns to learn and be a part of this Exploration too.
- The most important small goals are to figure out where are our capital goods come from.
- For instance, like labeling we have to know how to design and what can we put on it, but we don’t know where is the best place to print. So, we have to decide where should we print our labels that it can last for a long time with its best quality.
- For our supplies, we are presently using Liger kitchen supplies to make our chilli sauce samples. We think that to make our cost low, we will use Liger kitchen to produce our chilli sauce. If we can’t cook in that kitchen anymore, we will have to find another place to generate our chilli sauce.
- We get our ingredients from a local market in Cambodia at Phnom Penh. So, we use that ingredients for making the samples for people to taste. So then our goal is to do an experiment about the cost effectiveness of growing our own chilli.
- Another capital good to figure out is bottle. We have to know where is the best place we can get the bottles with high quality and low price. Also, we want to know which style of bottles that we need to choose.
- Also, another most important thing that we need for our business is license. We have to consider and do researches about who we have to meet, what we have to do, and where we can get our business license.
- We are not just sell our chilli sauces to international market, but also we want to sell our chilli sauces to local market. Later on we have to decide where should we sell our chilli sauces to (ex: restaurant) and who is our main customers and consumers.
First we were making our first chilli sauce with our first recipe as small amount because we don’t want to waste if people don’t like. Also we use the school kitchen and some help from our school chief to try our first recipe. We ordered the ingredients from the market through Liger chiefs. When the first chili sauce finished, our group let the people in our school both Khmer and foreigners taste and ask them “do you like it?”. Some people said that they liked it but some said it need to be improved.
Here is the first recipe:
( Monday+Thursday)
How we cook it?
- Take out the coats from garlic
- take out the seed from tomato
- boil the Big red chilli until it cook, then put it into one basket
- mix the red tomato, garlic and the big red chilli in the mixer
- filter the ingredients for 3 times
- put it on the stove and cook it with the sugar, salt, pepper
- Wait until it get cold then mix it with the vinegar
What we are going to order:
Materials
We also want to make the chili sauce that have Cambodia’s special ingredients such as Kampong Speu sugar palm, Kampot paper and other things that related to Cambodia. We also want to make the chili sauce and let the Western and American people taste it because they are our target audiences.
We also made our second chili sauce sample in our school kitchen. This time we want to make a lot more than before and we also want to find the top three recipes that people like the most. Also when it’s time for Sharation (celebration when we invite people to come and we share what we learn to them) our boards will come, so we will let them taste our samples and see do they like.
5. Financial Plan
Questions
- knifes
- pot
- stove
- big spoon
- Mixer machine te chili sauce
- big bowls
- cutting board
- filter net
We also want to make the chili sauce that have Cambodia’s special ingredients such as Kampong Speu sugar palm, Kampot paper and other things that related to Cambodia. We also want to make the chili sauce and let the Western and American people taste it because they are our target audiences.
We also made our second chili sauce sample in our school kitchen. This time we want to make a lot more than before and we also want to find the top three recipes that people like the most. Also when it’s time for Sharation (celebration when we invite people to come and we share what we learn to them) our boards will come, so we will let them taste our samples and see do they like.
- How are we going to pack our chilli sauce? How does it look like?
- Where will we buy the bottle? How much?
- Will we change the place that we cook? If so, where?
- What are the ingredients that we want to put in our chilli sauce? Where?
- When are we going to finalize our chilli sauce ingredients?
5. Financial Plan
Questions
- How much capital do you need to start your business?
- How much are you going to earn a month?
- How long does it take for you to make profit?
- Are you going to hire people to work for you? If yes, how much will you pay them?
- How are you going to set up your price?
- What is the price of the chili sauce per bottle? What is the margin of the chili sauce?
- What resources do you need to start your business? Which of them do you need to spend money for?
- We might need to wait until we have the final recipes, but here is something that we know we might need:
- Bottles
- Package
- What are the expenses that you need to pay for? How much are you going to pay for the ingredients? How much money do you need for your fixed and variable cost? Do you need to take a loan? If yes how much do you need to pay for the interests?
- Where are you going to sell: in the supermarket, small shop? Do you need to pay any money on those things?
- One of the goal is to sell it internationally and maybe to the US, but we are still not sure if we might want to sell it in Cambodia or other parts of the world.
- Still not sure about paying money
- How much money that you need to meet to break even? How long?
- Can you make and show a forecast of your sales and profits?
- We might after we have all the ingredients done, but for now we can’t predict it yet!
- Do you need to spend money on shipping or not? If yes how much?
- epends on where we want to sell
- Are you going to expand your business in the future? If yes how much money do you need to pay for?
- Do you have a price segmentation? Do you have any special service such as VIP card and if yes how much you’re going to discount and how many customers do you need to gain those discounts back?
- Are you going to spend any money on promotion? If yes how much?