Unit 5 Assignment 2: Monitoring the Performance of your business.
Key Performance Indicators (KPIs)
In this assignment, I will develop key financial, sales and marketing performance reporting indicators as well as identify variations from forecasted financial perform and revise business practice, following monitoring activities, to realign my business practices to best meet my KPI’s. I will also analyse performance and evaluate whether or not my KPI’s were met and where I need to improve.
Key Performance Indicators (KPIs) are a valuable tool for businesses and managers to monitor the performance of their business, teams and other areas where performance may be indicated, such as in sales. I remember working for a door to door sales company and our KPI’s were formatted to represent Door slams (where the door was slammed in your face upon realisation there’s a salesperson on the other side of it meaning you have to work on your introduction), Introduction (which means if you are cut short before you get to your pitch, again you need to work on your introduction), Pitch (this indicates that you got past your introduction but didn’t complete your pitch meaning you have to work on your pitch) and Close (if you fail to close the sale, you need to look at your objection handling). This enabled salespeople to improve where they need to without adversely affecting what is already perfect. Below, I have define my own KPIs for my trading week;
Key Performance Indicators: (points are awarded based on daily success rate, if a score is below 5, it means on at least one day, we were unsuccessful in meeting our targets set out in our Key Performance Report Indicators).
Financial KPIs
Total points: 10
Marketing KPIs
Total points: 5
Customer service KPIs
Total Points: 9
Total overall points: 24/30.
OVERALL KPI SUCCESS RATE: 80%
Note: It is easier to assign a points system relative to days as opposed to working out 90% of 1/6 of our KPI’s, believe me; I spent an hour trying to figure out the sum of 4/6 + 90% of 1/6 and then converting that to a percentage. We traded for 5 days, therefore for each KPI, if successful on each day, we would award one point per day with a maximum of 5 points being achieved for each KPI over the 5 days. This made it easier as it became a simple case of summing up the points and working them out as a fraction (24/30, simplified: 12/15, 4/5) and then converting our fraction to a decimal. This gave us our overall success rate of 80%.
This means, we need to focus mostly on our visual advertising (marketing KPI) and our pitch conversion rate however, this isn’t much of an issue as we did not achieve this KPI target only 20% of the time, this could be due to changes in footfall which perhaps would have been evident if we recorded the amount of people we actually spoke to each day, as opposed to basing our target on an assumed amount. Having witnessed a far lesser footfall within our trading location on both Wednesday (though we met our KPI target on this day) and Friday (where we failed to meet our KPI target) was significantly less than the other 3 days we were trading, this could have impacted our ability to meet our KPI targets on these days and therefore meant we will have to adjust these next time we trade, if we trade again, in the same location.
Otherwise, our KPIs were met apart from our marketing KPI target regarding our visual advertising methods. Even though we increased the amount of posters we hung around college, it made no improvement over time. We need to revise our visual marketing strategy completely or otherwise, we simply do not reattempt visual advertising though this will not be a case as there were not enough factors in place to warrant an absolute failure of the visual advertising medium we used or to suggest other visual advertising strategies would also be a failure.
So, obviously, we have already explained that we’ve met our KPI’s and how we devised a point based system to measure our KPI’s but how exactly did we meet our KPIs and what is our evidence? Well, let’s recap. Our financial KPIs were:
Financial KPIs
Our cashflow forecast was designated to my team member, what I found was it was extremely ambitious and unrealistic, however, as we had done no market research prior to understand the potential footfall which was an oversight on both of our parts. Nonetheless, our KPI’s were not about making forecasted sales revenues but instead to break even and remain in profit throughout the week. Let’s take a look at our cashflow forecast;
As we’ll see, this cash flow forecast is highly ambitious and unrealistic, though with that being said, one team made a substantial amount more in profits in their trading week than we did, in the same location, selling coffee! Our total expenses were also really high and did not reflect our actual expenses because we decided, once actual revenue figures had presented themselves, to remove the second and third prize and we agreed a day prior to remove them from the list in case we could not afford to purchase the second and third prizes, our first prize was 10% of raffle ticket sales but more on this later. What our cash flow forecast shows us is that without completing market research, you will be unable to forecast your financials; you need an understanding of not only your customers but also your sales venue – SWOT would have come into play quite nicely here, in hindsight; Strengths being our low expenses, weaknesses being no market research being completed and, in our prior ideas (pic ‘n’ mix, we decided not to go ahead with this as the other two stalls were providing food, one of whom was providing confectionary and chocolate) dillution of sales amongst stall holders – dillution remained a weakness. Our opportunities being we knew we’d be the only one proactively sourcing sales and high potential profits, our threats were competition from other stall holders and gambling regulations; we had to do a daily draw to avoid operating as a lottery and therefore needing a gambling licence and as gains were expected and were way below the amount required to warrant a gambling licence. A daily raffle did not require a gambling licence as per advice from our local authority and www.gamblingcommission.gov.uk, the regulator of UK gambling’s website. Below, you’ll find our actual cashflow figures:
As you can see in our actual cash flow figures, if we had divided our forecasted values by 10, we would have been much closer to our actual figures. We also met our KPI’s however, there is a disparity in our values on Monday; prior to our trading week, there were start-up costs. These were factored in to Monday’s expenses which gives the impression that our expenses were higher than our income but in fact they were not, our start-up expenses totalled less than £20 but were a significant portion of the expenses shown on Monday however, if we remove this from the equation, our expenses for Monday day were actually £7.05, this means our start –up costs were £17.10. So, we would have broken even in our first day but as a result of expenditure, we did not break even until the second day, with or without factoring in our start-up costs therefore meeting both of our financial KPIs. We cannot plot a breakeven chart in the traditional sense as we have no fixed costs, in a real world business setting, we would have; instead, however, we can see how our income and expenses flowed together below and this shows us at what point our expenses became less than our daily income.
Our balance would have been higher than that of our expenses if I had not reimbursed myself at such an early point in our trading week but it was important to ensure all debts were paid to avoid late repayment fees which I would have applied to the, for lack of a better word, director’s loan. In a real world business setting, the “director’s loan” would be donated to the business as start-up funding from my own pocket, it would not have been appropriate in this setting as between two members of the team, I was the only one responsible for costs, if the covering start up costs was more balanced, we could have agreed to wipe the debt but as it was only myself who contributed to the overall success of our stall except initial ideas, it was only fair I was reimbursed my expenses. We noticed on our first day that we must lower our daily expenses dramatically, if we did not, we would find ourselves operating at a loss and not breaking even, this would have ultimately caused us to fail our Key Performance Indicator respective to breaking even.
Next, we will look at our marketing KPI’s and whether or not we achieved those, which again we have established, semi-successful which, still, isn’t perfect meaning there were things we could have done differently to meet our KPIs. Our marketing KPIs were;
The evidence for this comes from our customer surveys, as well as interactions with some customers, we asked everybody who filled out our customer survey how they heard about us and 0% said they saw any of our visual advertising methods which were posters displayed around the college campus which was our sales venue. Immediately, we’d made a mistake by not advertising earlier but we had cut ourselves short in time as a result of last minute drastic stall plan changes.
It became evident from the first day that our advertising methods were not strong enough so we printed more posters each day and each day, they failed to get any attention. This indicates our strategy was unviable and we should have tried an alternative method. Perhaps we could have spent more and have the posters made larger but we figured that would take too much time in refining the poster to fit larger sizes without losing quality. So, our first Marketing KPI was a resounding failure but with such a small time-frame, in my own business idea of mobile advertising, the fact the billboards can move means when traffic falls, they can simply move whereas stationary advertising methods are useless if there is nobody looking at them. We could have improved our advertising strategy by conducting market research to understand our demographic, if we had done this, we may have realised that our paper airplane contest wasn’t going to be relatable to 16+ year old customers and therefore wouldn’t have been a success, we could have scrapped the idea and saved a third of our expenses as we achieved zero sales for our paper airplane contest, evident in our actual cash flow report. It’s only right I share a view of one of our completed customer surveys which you can see to the right.
We used our customer surveys to monitor our marketing and customer service KPI’s. We would look at our customer survey responses (as well as asking customers how they heard about us if they didn’t want to fill out a survey), we found that nobody heard about us from our posters and therefore, we would have to move the posters to more prominent locations and maybe enlarge them to make them more visible. If we were to do our trading week again, we would hang the posters up earlier to allow more exposure. We could have also varied the posters, perhaps by making three different designs of each poster so that if one failed to catch the attention of a customer, the others would be more likely to do so. When we realised our posters weren’t doing the job they were designed to, what we did instead was ramp up the volume of customers I would approach to inform personally about what we had to offer them.
100% of our customer survey respondents, including those I’d personally asked, indicated that they were attracted to the stall by me which obviously, made me blush! I’m just having a bit of fun, in reality, it was hard for them to escape me as I steered their attention away from their phones, their pizza slices, their friends and conversations and even a bloke waiting to be interviewed for a role of employment at the college I attend, he seemed like a decent chap but he didn’t want to buy a raffle ticket, unfortunately. I then went ahead and pitched the individuals who were guilty of nothing more than making eye contact with me before I pounced, in fact, they didn’t even have to do that. I told them about the wonderful charity we were supporting and why they should assist the charity to keep their homelessness services ongoing. Often, I’d close the sale and in fact, one could argue I was responsible for almost every sale we made as, from the photograph below, you can see our stall was quite cluttered and you wouldn’t be blamed for not understanding initially what we were doing;
Evidence to demonstrate that we met our KPIs came from our customer survey data but we had to collate this to make any kind of sense, below is our collated data;
The “How did you hear about us?” section of our survey was not a set response but we gathered that, because we utilised social media to inform our peers of our stalls which, according to survey data, had no effect and our posters which we have already established also had no effect, so we included these as choices in the how did you hear about section to better demonstrate the collated data to our advertising methods. Approach means they were approached by one of the stall holders (usually me) and otherwise had no other knowledge of us. We did have several wandering customers who visited our stall out of curiosity, most of these I were able to close the sale which for this kind of customer, is often expected to be difficult – I converted the customers into impulse customers as were all converted customers, nobody came to our stall and asked to purchase a ticket except for those who had no money today but promised to return the next day.
As a result of time constraints, I do not think it was possible to actually improve upon our visual advertising KPI but in business, it is expected that things will fail and through our KPIs, we are now aware that in future attempts at the same kind of stall, we will ensure we carry out proper market research to ensure our advertising is, above all, visible and equally as important, relatable to our target demographics.
We exceeded our approach KPI by over 100%, according to data (bear in mind not every customer filled in our voluntary customer survey), this means that no changes were to be made and instead, we should adjust our KPI target to be higher should we attempt this again however, it does mean that if I were to keep my target the same, I could lower my focus in this key performance area and focus more on improving other key performance areas.
Next, we will discuss our Customer Service KPIs, to remind ourselves these were:
We were successful here in our first Customer Service KPI but only 90% successful in our second, meaning on one day we did not achieve our key performance targets. Let’s find out why, below is a copy of our daily sales record;
This indicates that, on Friday (day 5), we did not convert 10 customers, instead we only converted 4. This was our final day and little could be done to improve on this, however, there were two factors that resulted in our failure, sheer laziness as a result of 4 days of hard selling which, even for me, talking for so long, repeating the same pitch over and over again, at least 100 times per day for several days really tires you out. The other factor was simply the low foot fall that occurred on that day, it was unbearably quiet and is in fact their quietest day, their second quietest being Wednesday. I could have improved my motivation by going to bed earlier and pacing myself better throughout the week, also the other member of my team wasn’t present on the final day either and that demotivated me as I felt I was doing the majority of the work. The £17.02 reflects the amount to be donated and the amount I would earn and my team mate would earn, we split our proceeds three ways. However, a 90% success rate in meeting our KPI does not necessarily warrant any improvements and that specific day could simply not have a high enough footfall on that specific day to make the same volume of sales each day; due to the high success rate, we would have to repeat for at least one more week before we could analyse whether or not we need to make changes to our strategy.
We received one complaint in regards to my manner in which I spoke to a customer, I was joking around but she didn’t see it that way. This lowered our customer satisfaction and was also considered to be a complaint. To improve and ensure this didn’t happen again, I was more mindful in my approach of potential customers by remembering to remain professional and not allow my casual nature to intrude too much into my sales pitch, I did this successfully but over time, it was exhausting which contributed to the low volume of sales on our final trading day.
We could have further improved on our volume of sales, I think, if my team mate tried a bit harder. On reflection, with his absences most afternoons for the final two hours, he could have spent that time going around the college and hanging posters in better positions to help us to meet the respective KPI.
Referring back to our customer survey data, which I’ve copied again below;
You can see that we achieved our customer satisfaction KPI as all of our customers were happy with the prizes, felt they were fair and all of our respondents rated their experience above 8 with the majority of respondents rating their experience at 9. Also, all of the respondents would refer us to a friend. However, when we compare the survey responses to the winner’s comments where they said they expected the prizes to be higher, this may further mar our customer satisfaction results but they were happy to donate their winnings to charity and I feel that perhaps there may have been a miscommunication between explaining the potential prize amounts in the sense where we explained that the prizes would be 10% of the revenue but even ourselves expected the revenue to be higher, this would have been better gauged if we did a footfall count prior to the trading week.
Our raffle ticket prize was 10% of the daily revenue and there was one draw per day, one criticism we did receive was from winners who expected prizes to be higher, players could win up to £100 because there were 1000 tickets and having not gauged how many sales we would make, we explained this and also said that we expect winnings to amount to £20 but until the end of the trading day, we wouldn’t know how much the prize value would be. After we took on board this criticism and had some previous prize winnings to work with, we were able to better inform our players going forward.
To conclude, I feel my business performance was very high, our stall was a resounding success in its own right because we did meet the majority of our KPI targets and business objectives. Our overall KPI success rate was 80%, this means there is still a little bit of room for improvement but otherwise, we should look towards increasing our targets and further developing our strategies. One take away from this is the importance of market research, as a result of our poor market research, we were unable to forecast and plan accurately, neither were we able to achieve all of our KPIs as we had hoped. We should have carried out a footfall count prior to trading as, on our first day of trading, we saw a high amount of footfall which was great and we expected this to be the case throughout the week, however, on Wednesday and Friday, footfall was much less. If we had known this, we would have been able to accommodate for this by approaching more people and achieving a higher volume of sales on the days which there was more footfall to make up for the small amount of sales we made on Wednesday and Friday. In fact, if we properly gauged the rate of footfall and compared that to our sales forecast, we would have been able to say “On Tuesday and Thursday, we need to sell double that of what we did on Monday to allow us to make weekly earnings consistent should we make less sales than our sales targets/forecast on Wednesday and Friday.” If we had achieved double the amount of sales, we would be able to save on overheads (in a real-world setting) by not opening up on Wednesday and Thursday and maintain healthy cash flow. To double our sales, my team mate would have had to get involved in the sales process too – it would have potentially meant finding a replacement as motivation is really important.
Other market research we could have completed would have been a pre-trading survey to gather whether or not they would be interested in our products, if we had done so, we’d have understood that our idea for the paper airplane contest wasn’t that interesting and we could have proceeded with just the raffle, this would have saved time, money and other resources including blu-tac and paper. We would have been able to use the money we saved to invest this into promoting the raffle and thereby, hopefully, achieving both of our marketing KPI’s.
Alongside this, we could have requested data from the college campus itself in regards to how many students should be in attendance on these days without absences though we would have been limited in the data we would be given due to data protection of students and staff.
My team worked very well together, with my team mate mostly handling the cash but since has proved useless in any way towards preparing the final accounts and reports however, I appreciate he has reasons but as yet, I am unclear as to what these are. My team member did work to the best of his abilities though I failed in my objective to teach him to be more confident within himself and start talking to strangers and converting prospects but the truth is, I don’t think he wanted help in that department, I said he should take his jacket off so he seemed more approachable and he explained he would rather keep it on and as I was trying to adopt a democratic, Y-Theory style of leadership, I decided I would not argue which is unlike me. All in all, it was a very positive experience. Throughout the week, we ensured improved handling of cash and organisation by separating all records of sales and income into daily records, this allowed us to easily compile our final accounts and also keep track of our KPI’s.
Appendix A: daily Sales record
Sales&Expenses
| Expenses | ||||||
| # | Item | Amount of units bought | Unit Cost | Cost Total | Date Purchased | |
| 1 | Raffle Tickets (1000) | 1 | 1 | 1 | Unknown | |
| 2 | Duplicate Book | 1 | 1 | 1 | 2017-03-01 00:00:00 | |
| 3 | Self-Adhesive Labels | 1 | 1 | 1 | 2017-03-01 00:00:00 | |
| 4 | Notebooks (2pk) | 1 | 1 | 1 | 2017-03-01 00:00:00 | |
| 5 | Print Credits | 400 | 0.01 | 4 | 2017-03-01 00:00:00 | |
| 6 | String (3pk) | 1 | 1 | 1 | 2017-03-04 00:00:00 | |
| 7 | Sellotape (3pk) | 1 | 1 | 1 | 2017-03-04 00:00:00 | |
| Total | 10 | |||||
| Income: | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | |
| #Raffle Ticket Sales | 17 | 14 | 12 | 12 | 4 | 59 |
| Raffle Ticket Units Sold | 22 | 18 | 12 | 17 | 4 | 73 |
| #Paper Plane Sales | 0 | 0 | 0 | 0 | 0 | 0 |
| Paper Plane Entries Sold | 0 | 0 | 0 | 0 | 0 | 0 |
| Total #Units Sold | 22 | 18 | 12 | 17 | 4 | 73 |
| Total #Sales | 17 | 14 | 12 | 12 | 4 | 59 |
| Total Revenue | 20.50 | 17.30 | 12 | 14.15 | 4 | 67.95 |
| Customer | Price per ticket | Number of tickets bought | Total paid | Contact | ||
| Day 1 | ||||||
| Jim Baller | 1 | 1 | 1 | 7729689577 | ||
| Naeem Popat | 1 | 1 | 1 | 7516115601 | ||
| Darpan Arvind | 1 | 1 | 1 | 745559358 | VOID – Contact number too short. | |
| Safiya | 1 | 5 | 5 | 7538815945 | ||
| Kiran Vinichia | 1 | 2 | 2 | 7948715494 | ||
| Zainab Shallah | 1 | 1 | 1 | ZainabShallah@hotmail.co.uk | ||
| Gurkrat Singh | 0.50 | 1 | 0.50 | 7387195351 | ||
| Abbie | 1 | 1 | 1 | 7519773741 | ||
| Hussein | 1 | 1 | 1 | 7460771101 | ||
| Jessica | 1 | 1 | 1 | 7885430735 | ||
| Poppy | 1 | 1 | 1 | 7495752608 | ||
| Courtney | 1 | 1 | 1 | 7432074134 | ||
| Alister | 1 | 1 | 1 | 7796382246 | ||
| Polina Mackscovich | 1 | 1 | 1 | 7851973029 | ||
| Tejal | 1 | 1 | 1 | 7459856884 | ||
| Devanji | 1 | 1 | 1 | 7405717835 | ||
| Total: | 20.50 | |||||
| Day 2 | ||||||
| Jamie | 1 | 1 | 1 | 7564723711 | ||
| Michelle Moore | 1 | 1 | 1 | 7841080311 | ||
| Brooklyn | 1 | 1 | 1 | 7951445400 | ||
| Teri | 1 | 1 | 1 | |||
| Sakib | 1 | 4 | 4 | |||
| Sandy | 1 | 1 | 1 | |||
| Ryan | 0.50 | 1 | 0.50 | |||
| Elleni | 0.80 | 1 | 0.80 | |||
| Yvette | 1 | 1 | 1 | |||
| Josh | 1 | 1 | 1 | |||
| Sophia | 1 | 1 | 1 | |||
| Urbesh | 1 | 1 | 1 | |||
| Joseph | 1 | 1 | 1 | |||
| Harry | 1 | 1 | 1 | |||
| Kajul | 1 | 1 | 1 | |||
| Total: | 17.30 | |||||
| Day 3 | 0 | |||||
| Cerys | 1 | 1 | 1 | |||
| Joe | 1 | 1 | 1 | |||
| Yogesh | 1 | 1 | 1 | |||
| Manish | 1 | 1 | 1 | |||
| Muhammad | 1 | 1 | 1 | |||
| Pushpa | 1 | 1 | 1 | |||
| Molly | 1 | 1 | 1 | |||
| Tom | 1 | 1 | 1 | |||
| Will | 1 | 1 | 1 | |||
| Hazra | 1 | 1 | 1 | |||
| Mitesh | 1 | 1 | 1 | |||
| Minal | 1 | 1 | 1 | |||
| Total: | 12 | |||||
| Day 4 | 0 | |||||
| Hiral | 1 | 1 | 1 | |||
| Katerina Plaka | 1 | 1 | 1 | |||
| Jake | 1 | 1 | 1 | |||
| Aaliyah | 0.75 | 2 | 1.50 | |||
| Maryan | 1 | 1 | 1 | |||
| Chamanhi | 1 | 1 | 1 | |||
| Marcus | 0.33 | 3 | 1.00 | |||
| Tracey Vingsley | 1 | 2 | 2 | |||
| Lydia | 1 | 2 | 2 | |||
| Agija Kalnina | 1 | 1 | 1 | |||
| Rupinder Singh | 1 | 1 | 1 | |||
| Abdhullahi | 0.65 | 1 | 0.65 | |||
| Total: | 14.15 | |||||
| Day 5 | 0 | |||||
| Nicola | 1 | 1 | 1 | |||
| Gursimran | 1 | 1 | 1 | |||
| Jamie | 1 | 1 | 1 | |||
| Hope Laudat | 1 | 1 | 1 | |||
| Total: | 4 | |||||
| Overall Total: | 67.95 | |||||
| Profit | 57.95 |
Appendix B: Financials
Cashflow Forecast
| Monday | Tuesday | Wednesday | Thursday | Friday | Total | |
| opening balance | 0 | 184.90 | 390.90 | 588.90 | 794.90 | |
| raffle ticket sales | 200 | 200 | 200 | 200 | 0 | 800 |
| paper airplane sales | 30 | 30 | 30 | 30 | 30 | 150 |
| total income | 230 | 230 | 230 | 230 | 30 | 950 |
| 0 | ||||||
| materials | 10 | 5 | 15 | |||
| advertising | 4 | 3 | 7 | |||
| Paper Plane Prizes | 3 | 3 | 3 | 3 | 3 | 15 |
| Raffle Prizes | 20 | 20 | 20 | 20 | 19.98 | 99.98 |
| miscallanious | 8.10 | 1 | 1 | 1 | 1 | 12.10 |
| total expeneses | 45.10 | 24 | 32 | 24 | 23.98 | 149.08 |
| closing balance | 184.90 | 390.90 | 588.90 | 794.90 | 800.92 |
Balance Sheet Forecast
| Opening Balance | Closing Balance | |
| current assets | ||
| cash | 0 | |
| inventory | 125 | |
| total current assets | 125 | |
| liabilities | ||
| materials | 10 | |
| advertising | 5 | |
| prizes | 105 | |
| misallanious | 5 | |
| total liabilites | 125 |
P&L Forecast
| £ | £ | |
| sales | 950 | |
| opening stock | 20 | |
| closing stock | 0 | |
| gross profit | 930 | |
| expenses | ||
| materials | 10 | |
| advertising | 5 | |
| miscallanious | 5 | |
| prizes | 105 | |
| total expenses | 125 | |
| net profit | 805 |
Stock Control
| Item Number | Item Name | Quantity Sold | Recommended Price | Stock Remaining |
| 1 | Raffle Tickets | 73 | 1 | 927 |
| 2 | Paper Plane Contest | 0 | 1 | N/A |
| Number of Raffle Ticket Sales: | ||||
| 59 | ||||
| Total Revenue from Raffle Ticket Sales: | ||||
| 67.95 | ||||
| Number of Paper Plane Contest Sales: | ||||
| 0 | ||||
| Total revenue from Raffle Ticket Sales: | ||||
| 0 |
Expenses
| # | Item | Amount of units bought | Unit Cost | Cost Total | Date Purchased | |
| 1 | Raffle Tickets (1000) | 1 | 1 | 1 | Unknown | |
| 2 | Duplicate Book | 1 | 1 | 1 | 2017-03-01 00:00:00 | |
| 3 | Self-Adhesive Labels | 1 | 1 | 1 | 2017-03-01 00:00:00 | |
| 4 | Notebooks (2pk) | 1 | 1 | 1 | 2017-03-01 00:00:00 | |
| 5 | Print Credits | 400 | 0.01 | 4 | 2017-03-01 00:00:00 | |
| 6 | String (3pk) | 1 | 1 | 1 | 2017-03-04 00:00:00 | |
| 7 | Sellotape (3pk) | 1 | 1 | 1 | 2017-03-04 00:00:00 | |
| 8 | £10 Voucher | 1 | 10 | 0 | 2017-03-10 00:00:00 | Removed from prize list. |
| 9 | Watershow Speakers | 1 | 10 | 0 | 2017-03-10 00:00:00 | Removed from prize list. |
| 10 | 10% Raffle Revenue | 5 | 6.79 | 33.97 | Various | 80% donated to charity as per winner’s wishes. |
| 11 | 10% Plane Revenue | 5 | 3 | 0 | No Sales | |
| 12 | Carrier Bag Charge | 2 | 0.05 | 0.10 | Various | |
| Total | 420 | 12.85 | 44.07 | |||
| Expenses |
Daily Sales
| Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Avg. | |
| Sales Volume | 17 | 14 | 12 | 12 | 4 | 11.80 |
| Cash Total | 20.50 | 17.30 | 12 | 14.15 | 4 | 13.59 |
| #Raffle Tickets Sold | 22 | 18 | 12 | 17 | 4 | 14.60 |
| Contest Sales | 0 | 0 | 0 | 0 | 0 | 0 |
| Avg. Customer Value | 1.21 | 1.24 | 1 | 1.18 | 1 | 1.12 |
| Avg. Sale Value | 0.93 | 0.96 | 1 | 0.83 | 1 | 0.93 |
| Income: | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | Total |
| #Raffle Ticket Sales | 17 | 14 | 12 | 12 | 4 | 59 |
| Raffle Ticket Units Sold | 22 | 18 | 12 | 17 | 4 | 73 |
| #Paper Plane Sales | 0 | 0 | 0 | 0 | 0 | 0 |
| Paper Plane Entries Sold | 0 | 0 | 0 | 0 | 0 | 0 |
| Total #Units Sold | 22 | 18 | 12 | 17 | 4 | 73 |
| Total #Sales | 17 | 14 | 12 | 12 | 4 | 59 |
| Total Revenue | 20.50 | 17.30 | 12 | 14.15 | 4 | 67.95 |
| Profit | 23.87 | |||||
| 7.96 |
Cashflow
| Monday | Tuesday | Wednesday | Thursday | Friday | Total | Day 1 | Day 2 | Day 3 | Day 4 | Day 5 | ||||
| opening balance | 0 | -4.41 | 10.16 | 11.96 | 24.01 | Balance | 0 | 0 | -4.41 | 10.16 | 11.96 | 24.01 | ||
| raffle ticket sales | 20.50 | 17.30 | 12 | 14.50 | 4 | 68.30 | Income | 0 | 20.50 | 17.30 | 12 | 14.50 | 4 | |
| paper airplane sales | 0 | 0 | 0 | 0 | 0 | 0 | Expenses | 0 | 24.91 | 2.73 | 10.20 | 2.45 | 1.40 | |
| total income | 20.50 | 17.30 | 12 | 14.50 | 4 | 68.30 | Closing Balance | 0 | -4.41 | 10.16 | 11.96 | 24.01 | 26.61 | |
| materials | 10 | 0 | 5 | 0 | 0 | 15 | ||||||||
| advertising | 4 | 0 | 3 | 0 | 0 | 7 | ||||||||
| Paper Plane Prizes | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Raffle Prizes | 2.05 | 1.73 | 1.20 | 1.45 | 0.40 | 6.83 | ||||||||
| miscallaneous | 8.86 | 1 | 1 | 1 | 1 | 12.86 | ||||||||
| total expeneses | 24.91 | 2.73 | 10.20 | 2.45 | 1.40 | 41.69 | ||||||||
| closing balance | -4.41 | 10.16 | 11.96 | 24.01 | 26.61 |
Appendix C: Survey Responses
| On a scale on 1 to 10 how happy are you with your experience? | ||||||
| scale | Responses | Thoughts on promo material? (Qualitative) | ||||
| 1 | 0 | Positive | 10 | |||
| 2 | 0 | Neutral | 0 | |||
| 3 | 0 | Negative | 0 | |||
| 4 | 0 | Happy with prizes | ||||
| 5 | 0 | Yes | 10 | |||
| 6 | 0 | No | 0 | |||
| 7 | 0 | |||||
| 8 | 2 | |||||
| 9 | 6 | |||||
| 10 | 2 | |||||
| Would you recommend us to a friend? | How did you hear about us? | |||||
| Yes | 10 | Approach | 10 | |||
| No | 0 | Posters | 0 | |||
| Social Media | 0 | |||||
| What did you play? | ||||||
| Raffle | 10 | |||||
| Airplane | 0 | |||||
| Prizes Fair? | ||||||
| Yes | 10 | |||||
| No | 0 |