Two years ago Lisa and I did it. It was called "Operation Matching iPods".
We planned it out perfectly. We would wake up at 2 am, boil 15 gallons of water, drive down to Best Buy and sell people hot chocolate.
It worked out that we would make enough money to buy His and Her iPods for Christmas.
Phase 1 - Preparation
We decided it would be a good idea to also sell those big Costco muffins to people. So we took a trip down to Costco earlier in the week and filled our cart with cups, napkins, bulk hot chocolate and about 150 muffins. We got a few looks.
We also borrowed a few 5 gallon water coolers to dispense the hot chocolate on the big day. Luckily we found a red cart that we could wheel the coolers on. It even had a bottom shelf to store the muffins. We had everything we needed.
Phase 2 - Pregame
We were up at 2 am. There was an excitement in the air. We could feel our big moment approaching quickly. Soon we would unleash hot chocolate on the droves of people standing in line at Best Buy. We would be paying full price for our iPods with the money they gave us while they were standing in line for a great deal on their iPods - the irony.
It took about an hour to boil the chocolate and get everything into the car.
Phase 3 - Game Time
When we pulled up to Best Buy we were a little scared and full of self-doubt, but with 15 gallons of hot chocolate in the back seat there was no turning back.
At first we priced everything at $2 a piece. By the time we got to the end of the line we probably only sold 20 cups and 5 muffins. It wasn't going good.
Plan B
We decided to regroup. We went to another Best Buy and priced everything at a $1. Now the hot chocolate was flowing.
We got alot of feedback from people standing in line. People commented on how "entrepreneurial" we were. When we replied with, "Thanks. Do you want to buy some hot cocoa?", they promptly said, "No" (thanks for the support - jerks). People also told us we should have sold coffee. One guy said we should have sold alcoholic coffee.
It was nearing 5:00 am and the stores were about to open. We were trying to get rid of everything. It was now a muffin and cocoa for $1. The very second the doors opened it was all over.
The Aftermath
68 cents profit. That was our take after everything was said and done. Our downfall was the muffins. Hardly anyone bought muffins. If you think about it, it's kind of hard to eat a huge muffin while standing with your hands full. We should have conducted some user research. We had over 100 muffins left over and no iPods.
Would we do it again?
I would. Lisa wouldn't. She can tell you why.
8 comments:
That's Awesome Jared! What did you guys do with the $0.68 profit?? Do share!
If we are ever in the same city on Black Friday - i'll be your business partner and with your experience - we can make enough to buy ourselves iPod's - our wives will have to figure out their own money making idea!
I thought about doing that. I'm glad i read you blog cause now...i don't think so. Coffee does make more sense though. At least you didn't loose any money.
I remember that! Do you remember what the hot cocoa tasted like when it got to our house that night and robert, trying to be nice, drank it anyway until you (jared) tasted it and about gagged. lol!!! those were the good old days. I'm excited for you guys to be in chicago that's only like 5 hours from us!!! woo hoo!
Good idea- but next time don't sell muffins. I admire the fact that you actually DID it instead of just talking about it!
I love the ideas you two come up with. I see why Lisa married you. You both are so the same. I think it was a great idea. Usually it takes a few tries before getting a business venture moving. I say do it again. It sounds even more exciting then shopping black Friday.
Oh, I'm so glad you posted this story! I nearly requested it - I was thinking of you both last Friday :)
"The Irony." - hahaha!
that is sooo funny. maybe the problem is that you live in arizona? if you were where i was in cold ohio, you would have made a killing!!!
you guys crack me up
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