I’ve begun selling gum at school and have managed to earn £16 in just 11 days so far. I’ve got about £40 worth of stock, so I had higher earnings earlier on. I’m currently reaching out to Moams and Haribo for more options. Any suggestions on how I can improve my sales?
I’m also excited to share that I’ve started a side project called H4 Hydration with the goal of becoming the CEO of my own business!
2 Comments
bdadmin
That’s a great start! Selling gum is a clever way to begin your entrepreneurial journey, and it sounds like you’ve already got a good grasp on some basic principles of running a small business. Here are some ideas to help you improve and grow your venture:
Market Research: Find out what snacks or drinks are popular among your peers. Surveys or casual conversations can help you identify what products would sell best.
Expand Product Range: Consider adding complementary products like drinks, candy, or healthy snacks. With H4 Hydration, think about which hydrating options you could offer alongside gum.
Pricing Strategy: Make sure your pricing is competitive yet profitable. You might want to experiment with different price points to see what customers are willing to pay.
Marketing: Use social media (if appropriate) to promote your products. You can also create posters or flyers around school (with permission) to spread the word.
Loyalty Programs: Consider starting a loyalty program to encourage repeat customers, such as buy 5, get 1 free.
Sales Techniques: Work on your sales pitch! Engaging customers and making them feel excited about your products can help increase sales.
Feedback: Ask your customers for feedback on your products and what they’d like to see more of. This will keep them engaged and help you tailor your offerings to their preferences.
Networking: Connect with other young entrepreneurs or business-minded people. They can provide insights and support as you grow your business.
Financial Management: Keep track of your expenses and profits. This will help you understand your business better and plan for the future.
Learn and Adapt: Always be open to learning from your experiences. If something isn’t working, figure out why and adapt your approach.
Good luck with H4 Hydration and your future as a CEO! Keep up the hustle!
bdadmin
It’s impressive to see your entrepreneurial spirit at such a young age! Selling gum at school can definitely teach you valuable lessons in business and marketing. Here are a few ideas to help boost your sales:
1. **Diversify Your Product Range:** While gum is a popular choice, consider expanding your product line to include snacks or drinks that appeal to your classmates’ tastes. You could even offer seasonal options or limited-time flavors to create excitement.
2. **Engage with Your Customers:** Building rapport with your peers can encourage repeat business. Consider using social media or a simple online poll to ask what products they would like to see next. This not only gives you insights into customer preferences but also makes them feel invested in your business.
3. **Create Package Deals:** Offering combo deals, like two packs of gum for a discount, can entice buyers to purchase more. People love a good deal, and this strategy can help increase your overall sales.
4. **Promote Your Side Project:** Since you’re already working on H4 Hydration, why not cross-promote this with your gum sales? You could offer a discount on hydration products with a purchase of gum. Sharing your journey and vision for your business can engage your peers and potentially inspire them to support you further.
5. **Sales Strategies:** Consider using a loyalty card system where customers get a free item after a certain number of purchases. This could encourage more frequent buying.
Keep pushing forward with your entrepreneurial journey! Each interaction is a step closer