Venture Idea Name:
Nourish Coffee Mugs (Get Nourished or Loco Mugs)
Group Members:
Taylor Readyhough, Justin Fleischer, Catherine Namwezi, Nancy Choi, Allie Schmidt, Anna Nelson
Elizabeth Attaya, Jonna Pineda, Aarti Kumar, Carrie Ruh, Emily Hwang, Steven Haderer
Description:
College students and professors alike drink a lot of coffee. This Venture involves selling unique, reusable coffee mugs to students, faculty, and the surrounding community. A Chapter could start by sellings mugs at a booth on campus, using a unique design or logo (maybe the university’s logo maybe a customizeable design that customers could request.) Once the Chapter is comfortable, they could sell the mugs plus pounds of coffee at a stand (the International Office has a coffee connection, ask your Chapter Support mentor for more info.) Chapters could even brew their own coffee to sell on campus or near campus.
Marketing Ideas:
Target Market: Coffee drinkers using reusable mugs, interested in fair trade and good causes
Discounts at local shops, Facebook pages and events, club outreach, etc…
Revenue and Expenses:
Probable Expenses (as estimated by Get Nourished):
~$3/ceramic mug (might get a better price with bulk purcahse, down to $2.82) so 50 mugs would cost $141
Sources of Revenue (price, bundles, diverse markets, etc… as estimated by Get Nourished):
$7/mug, $2/cup of coffee, $13/pound. Chapters could start selling mugs, brewed coffee, and packaged coffee to diversify their revenue streams
Profits and Other benefits of Venture (Marketing for an upcoming event, advance ticket sales, social value created, etc.):
Fair trade coffee and reusable mugs benefit social and environmental causes. Awareness of these causes could also be raised during sales or at the sales booths.
Challenges:
Finding the right price, competing with a plethora of local and national coffee shops, convincing students of the benefits of using reusable mugs and fair trade cofee.
Tips:
Talk with Kelly if you’re serious about this Venture. It could be big and the national office can help connected you to a coffee seller.
Would you recommend to other chapters?
Still an untested idea. If a Chapter can find a way to get the mugs for this price, make them unique and maybe customizable, and sell them for the right price then this is a great idea. Especially if the Chapter can sell packaged and brewed coffee at an established stand on or near campus, this could be a huge earner. It could expand beyond the campus community into the neighboring communities as well.
Learn about building a business model for your Venture here!
Copy it and edit it a version for your Chapter here.
Contact info:
Kelly Phoenix – kelly@nourish.org
Taylor Readyhough (UNM) – treadyho@unm.edu
Aarti Kumar (Pitt) – aak64@pitt.edu
