(MIYB) The Fundraiser--Part I

The next few weeks of Make It Your Business (MIYB) Fridays will be very different from the projects we have tackled until now. Through the next few weeks' worth of blood, sweat, and tears, you will create and run your own businesses in a week of fundraising frenzy! Even better, you will be able to earn a group jackpot towards your clothing stipend accounts.

The Project
1) Today you will break down into groups of 2-3 people and spend about 20-30 minutes deciding what your fundraising "business" will be. You have a choice of doing any of the following three choices:

1. Creating a fundraising pizzaria
2. Creating a Valentine's gift/photo shop
3. Creating a lunch catering business

Additionally, you may come up with your own idea for a SMALL fundraising event/business, but your idea must not require too much start-up money and resources, and it must be feasibly completed in a few hours to be approved.

2) Once you have your ideas ironed out for your businesses, you will need to come up with a list of all the supplies you need. The less supplies your business has to purchase, the better for your team's ability to raise and earn money. Once you have a complete list for your business, you need to come up with a list of prices of the items/services you will sell. Using this, we will calculate your break even point, or BEP (the point where you've earned the money you spent out for supplies).

For the purposes of our project, this number (the number of products you have to sell to break even is determined by the following formula:

BEP = (total costs for supplies) ÷ (price of most popular products/services)

You will summarize this information in a worksheet that you will turn in as one of the requirements for today's project.

3) Lastly, for the remainder of your time today, you are to write a one paragraph summary of your chosen fundraising idea that you can include as your cover sheet for the work to follow in the next few weeks. Briefly name your group members, describe your idea, and choose two dates in February that all group members (or the majority) can agree to meet. (The fundraiser day for your group will only be on one of those days.)

Summary
Today's project is the first in a series of four MIYB project days. You will keep the same groups for all days, and groups are small, so it is important that everybody maintain good project attendance for the next few weeks. Also, all stipend money that is raised for the group will be split by group decision, so unproductive members beware!

By 6:00 today, you are to (1) meet with your group; (2) decide on a fundraising business idea; (3) come up with a supply, cost, and price list, and complete the worksheet; (4) determine your BEP; and (5) write up a fundraiser proposal sheet describing your project idea, members, and proposed date.