GPGS

I participated in the Great Polytechnic Garage Sale with Kimberley today, selling chocolate fondue. It was a total disaster! It was held at 27A Number 10, Geylang Road, Emmanuel House Carpark. According to Kimberley we spent a total of $200, and we only earned $82 in all, so we actually made a loss of $120.

I think the following reasons caused our loss:

The stall rental at $50 is too expensive. They said that they will refund us $40 if we can get 10 shoppers to come for the event. I thought that I should have no problem inviting 10 friends with my contacts. In the end, less than 10 turned up, so I don't think we will be getting the $40 refund.

I let the previous success get to my head. I did something similar when I was in Ngee Ann Polytechnic year 1. We managed to cover the cost and managed to make a small profit. But I forgot that things are different now. The other time was over a total of 3 days while this one is only a one-day thing, that one was within the school compound so the traffic is better while this one is a private sale, so only invited people can come. Plus, the place is far away and not very easy to find.

We over-estimated our success. Due to previous success, we thought we could earn quite a bit this time, so we bought too much of everything.

We don't understand the market. We do not understand what the public will want to buy.

We have too many varieties of fruit: red apple, green apple, bananas, mangoes and grapes. Plus, we had marshmallows.

So the conclusion is, if there is a next-time, make sure the rent of the stall/space is okay, buy as little as possible. If I want to sell chocolate fondue again, I will just have marshmallows and apples.

For this kind of garage sale, it's best to sell what I have. We have so many books at home, we should have sold books instead. How stupid of me.

But then, I did get an AIKIRA Bread Toaster in the special draw.