Wednesday 22 November 2017

Profitability of the school business


'PRESERVERANCE' is the secret of a successful business and profits will come if you go after it.


A business may have many goals but if it does not make profit in the business,  it cannot survive. Profits are important because money is involved in the set up and start of the business. It helps to invest into new ventures and expand.

Techniques used by our business to ensure that it is profitable:

Our business is based within our school premises and the expenditure is only on raw materials,  payment for training and to the workforce, on packaging and a little amount on advertising.
Since all our promotions and sales is looked after by us, the students, we put all the profit back into the business. 
Every year awards are given to the four most enterprising students so that the team remains motivated.

The facts and figures of the business:






Below are a few images of the vouchers that are maintained by the students. (Vouchers are the bills and invoices for payments.)











We also put up stalls during parent teacher meets and in neighbouring colonies. 




                   

                  
'Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. '
                                                              - W.  Edward Deming




Plans made to spend our profits:

 Maintaining quality of products is very important for profits. Our enterprise keeps this in view and the above mentioned things while strategically pricing our products. We listen to the feedbacks given by our clients and apply them in our business to improve our products and hence the profits. We are easily accessible to our customers and have a pricing strategy that will attract more people towards the enterprise and our profits will rise. 



Parents giving their feedback and advises for the improvement of our products :






Delegates from other countries also visit our enterprise time to time.


              


Feedback given by the customers:

Parent 1: I am highly impressed by seeing the teamwork of the staff of Nirmaan Enterprise. Each child is giving their best to improve the working and for the betterment of the Enterprise.
The children can work on making the packaging of chocolates more attractive to compete with other enterprises.

Parent 2: My advice for the enterprise is to provide variety and different flavours for chocolates.   

Parent 3: I am happy to see an Enterprise working for the upbringing of women by providing them employment. The students are also developing their skills. These children are sure to be great entrepreneurs in their future.


          
Our business is not driven just for profits,  it is also driven to serve.


The main goal of our business is empowering the women in the lower strata of the society. 50% of the profit is given to ladies belonging to the economically weaker section so that they can earn a livelihood.
Our remaining profits are also ploughed back into the business. We train the EWS ladies to learn a skill and training cost is also borne by profit. 


The EWS ladies being trained and guided by the teacher and the students:





                   
Future plans of our business to increase profits:
  • In future we would take the help of social media for selling and distribution as well as procuring orders and thus would reach more potential customers.
  • We would like to improve the products by advising new varieties in chocolates so that they become more tempting.
  • We will like to work on providing new gifting options like on birthdays and other occasions by taking orders and this way would like to expand our business which would in turn increase profits.
  • We would try to increase our customer base in school for chocolates and pencils. We would sell on regular basis instead for waiting for PTM's and other events. This will add up to our sales and profits.


Our main goal is to increase our customer base - sales and hence the profits.



Quotes written by the team members of NIRMAAN:

1. 'We commit ourselves to constant improvement.  '       
                                           - Kashish Koul

2. 'Profit is not something to add on at the end, it is something to plan for in the       beginning.  '
                                           - Manya Jain



Experience of the marketing team of NIRMAAN when they dealt with the customers:

1. After being a part of the Production Department for a year I thought of getting a new experience and shifted from the Production Department to the Marketing Department. To be honest I thought it was a very easy task to sell products to the customer. But After standing on our stall(where we sell our products) for an hour or so I came to know how wrong I was. Selling a product isn't just displaying it and earning money but it is a very large process which starts from approaching customers- convincing them to buy your product, why it is better than every other product in the market- bargaining about the price- finally selling it.
In this long process I learned about many different things like  techniques to convince customers to buy your products, how to handle all sorts of customers- the generous and kind ones or the short tempered ones and other sorts too and also how important it is to consider every profession important. I believe this experience has polished my communication skills as well as improved my patience level and temper and I am extremely thankful to the Nirmaan Family and School Enterprise Challenge to give me this opportunity to share my experience.
                                                               
                                                                                                -Nischay Vij


2. The job of the marketing department is an interesting one and at the same time teaches you a lot about dealing with people of different types, convincing them to buy your product and a lot of product management skills. Most importantly I have enjoyed this task as it has given me a broader outlook at the customer’s perception. I have always tried my best to fetch more and more customers and make them a part of the Nirmaan family. Marketing is not everyone’s cup of tea and thus it is very important to learn to deal with people and Nirmaan has been among the first to teach me that. Being a part of the marketing team, I look upto my seniors and try to grasp more and more skills. It has always been something i have enjoyed and my teachers have always helped me and I am grateful to them for that.

                                                                                                      -Ishika Chauhan

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