29 April 2020 Online meeting

As Circuit Breaker measures are yet to be lifted, we have to do our meeting online at Zoom.

Here are our meeting minutes:
Finalise on one idea
Ryan mentioned about starting the food like the NTU
Nelton mentioned that we have to hire chefs and attain a license from NEA. Might take a lot of time
Ryan mentioned that he knows friends doing online teaching. $60/8lesson Wei jie that he is supposed to go for a programming lesson fully subsidised by the government. He relate it to peer tutoring

Ryan mentioned that if you need a platform, then need a website, app to gather the people/audience. We need to pay for servers etc.

Everyone mentions the challenge of having the tutor to work with the target customer without going through the business as the middleman.

Eliminate the idea for now:
Speed dating
Delivery (e.g. food kakis)
Buy & sell services
Reality Show

Kit
Sayxian commented that it harder and many people are doing it (bubble tea, #sgpayitforward.) as well as coming up with specific kit to meet the audience. High logistics cost involved.

Succulent / Flowers
Succulent
Wei jie proposes selling 6 random succulents. Cost price is roughly about $10 each
Each pack about $35 each
Each person to refer more people. He said that hopefully we can break even. Use of social media and influencer to reach out to more students.
Wei Jie mentioned Branding, Marketing. He highlighted that inventory might be a worry if we cannot sell out. But if we fix the variety and boost our sales. Running inventory in a fixed locationRelatively low risk for succulent, but there is a need to water.

Roses
Wei Jie had experience in this business. He is very clear of the process. Wholesaler sometimes will not have the specific
$0.70 per stalk. 3 stock bouquet is $30. Mainly the cost is from advertising, rental and inventory cost. E.g. 5 stalk in a bouquet for $30. Flowers or roses can be used generally for many occasions.
Wei jie said that it can open sales to more consumers in Singapore. Risk: short timeframe and clear in communicating how we operate. Wei jie highlight that it is the most time consuming.
Nelton mention that the after sales of roses might be bas especially the incident that it happened to Floralgarage. There might be a limit to the sales capacity due to inventory and delivery services.

Ryan suggested opening the business to both succulent and roses.

Wei Jie highlighted the perishable portion for roses. Succulent is more sturdy. Imagine 10 rose, but people are more willing to buy more roses if, for example, we only see 15 roses.

Finalising on one idea
Ryan proposes succulent as the main focus but roses for occasion.
Sayxian proposes combining both ideas, as a package. Afraid of people being choosy.
Wei Jie proposes that he is ok with both. If he can pick one, he will go with succulent.
Nelton Succulent.
All of us decided to sell both premade succulent and DIY kit as part of business

Dedicate tasks on business plan
Everyone to research the cost and purchase details of the pot.
Wei Jie: Focus on finding existing local wholesaler prices of pot, succulent, soil etc.
Ryan: Finding the combination of the accessories, design ,succulent for the DIY Kit
Say Xian: Researching on the potential USP we can do
Nelton: Doing the financial projection and website out.