Home – New Forums Starting your journey When is a good time to give up?

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  • #979539
    alecia
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    Hi everyone!

    I am not giving up my business, don’t worry. The small business I have been operating for 6 or so months now is going well.

    It’s a small mobile food business, that I take to events. (I am working on getting a trailer built to make set up & pack up a bit easier)…

    I purchased a hot chocolate machine (sort of like a drink dispenser, but with a bain marie to keep it warm) and have used it a couple of times at events, but I have found that 1. I sell 2-5 cups of this per event, and 2. It takes FOREVER to clean the machine.

    I have decided to just sell the machine and forget about that altogether. The main part of the business is going well though.

    Do you think 2 events is too early to give up on? One of the events was very busy, and at that event I sold 2 hot chocolates.

    Would love any thoughts :) Thanks.

    #1115028
    kathiemt
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    Only 2 hot chocolates? What’s wrong with the crowds? :) That’s all I usually buy wherever I go because I’m limited on how many coffees I’m allowed to drink in a day (drs orders) so unless I know the coffee is really good, I just don’t buy it. But you do need to set a time frame for giving it a go and letting it go if it’s not working. Only you would really know what to give it. I’d give it a timeframe or perhaps xx number of events. For example, I’m working at developing as a nature photographer. I’ve invested in a marquee and many different products for sales at local markets. I elected to give it a full year before deciding whether or not it was worth the effort. I find a year gives me a good measure of all seasons and what products work and what doesn’t.

    #1115029
    Divert To Mobile
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    Calculate the profit on hot chocolate and how long it will take for the machine to pay itself off. Coffee is very popular do you think the crowds would buy coffee?
    Markup is about 1000 %

    I helped at charity event once, I got to play the roll of barista. I pumped coffee non stop out of a 2 group machine for 6 hours straight. The coffee machine ended up making the highest profit of the entire event.

    Steve

    #1115030
    ray_223
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    It depends on what else you are selling.

    If hot chocolate is a “fit” to your other products, it’s probably worth waiting a bit longer to see how it goes.

    If you are selling “fairy floss” and “hot chocolate” – I’d say it’s a poor match and get rid of the hot chocolate.

    #1115031
    bluepenguin
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    …and it’s not just about the profit you make from the drinks;
    If you make $50 profit, but then have to spend an hour cleaning the machine when you could be doing something else, your not really making $50 profit.

    You could always replace it with a kettle and a tin of posh hot chocolate powder.

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