FOOD CART BUSINESS

Join the Millionaires Club. Earn your million. Start your own business now.

Having to earn “A MILLION” and be called a millionaire is everybody’s dream. To have earned it the hard way is the sweetest thing and today we will start on our journey in getting our million.

To be an “entrepreneur” is a click word for the longest time in business and how to be one will be explained here in a little while. To be one, first you should have an idea, you think about this idea, you’ve been thinking about this idea, dreaming about this idea, and talking about this idea.

FOOD CART BUSINESS
Now you’re ready to make this idea into a money making venture. First think of your target market. Why? Because this will be your clientele. If you’re thinking about selling cheap donuts, you look for a busy area where people will buy your donuts. Cheap Donuts = working people. Working people who don’t have time to prepare breakfast, who want snacks without the fuss, who don’t want to line-up at fastfood restaurants, who don’t have the budget for McDonalds, Jolibee and all those branded fastfood. Now you have the product, the market and the location of the business.

Now let’s do the math of the business.

How much is the donut, the cheap ones, not affordable ones? 5 pesos? 15 pesos for 2 donuts with a small drink? Affordable?, No. Cheap?, YES. Now with this pricing, we will kill competition. But wait a minute.

Let’s go back to the location of the business. For you to sell cheap, you have to have a cheap location. Why? Because you have to maintain the cheap price of your product. Now let’s see what is cheap?10 Thousand a month rental, divide by 30 days is roughly about 350 pesos per day, is that cheap? Let’s compute. For you to pay the rent of 350 pesos daily, you need to sell 70 pcs of donuts. Can you sell 70 pcs? If you can do that, then let’s continue our computation. We need somebody to tend your stall who will be paid a minimum salary of 310 pesos per day, so you need to sell 62 more pcs of donut to cover the salary. Think of the whole business, what are the things you need to make the business. What we did is a simple way to think things through. You may need more data to have a better computation.

For doing your computation, we need the very basic components of the business. For a donut business, we need the materials for the donut, people to make the donuts, people to man your stall, people to deliver your product to your stall. These are the things that you consider for you to operate the business. Below is a very simplified computation of how much is your sales and income on a daily basis.

So as the computation will show, you have a positive income of 1,355 per day for a total of 40,650 per month of positive residual monthly income. This is just for one stall. And if you have perfected your system, you can now put up another stall and another stall and so on and so forth. And if in about a year you can build-up your business to about 5 stalls, that is about 200,000 per month of income, residual income.

And now we have to scout the location for your stall. Our first criterion is that the area should be a busy one. We have to find a good location for it. Let’s say an MRT train station. Good traffic of people. Not all MRT stations are candidates for a good location. You are selling CHEAP DONUTS and definitely you should look at a location that will have your target market. Now, what station of the MRT is a candidate? Go out there and check out the possible locations. You are now armed with the initial evaluation and computation to do your own business.

Remember that the only way to get information is to ask for it. So if you have any question please don’t hesitate to ask me. Send me an email at wigoconcepcion@gmail.com or get in touch with me at these numbers, (0927)362-3677 and (0915)311-0780.

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