CHALLENGE 10: CHALLENGES

CHALLENGES

THE CHALLENGE: To start a business in two weeks that is legitimate and provides a needed service.

MENTOR: Virgilio Cord.

THE BUSINESS: Express Car Wash.

DESCRIPTION: To offer in the market the service of an express-car wash in a commercial center. The idea is to offer a professional service of QUALITY and RAPIDITY.

GENERAL MISSION: To fulfill the Challenge under the required time frame and to provide quality service that is unique in the market and which attracts clients to take their cars to this Express Car Wash.

SPECIFIC OBJECTIVES:

• Comply with the tasks assigned in each one of the phases
• Phase I: Investigation of markets
• Phase II: Feasibility study and business plan
• Phase III: Qualification and Development of the business plan
• Final Phase: Launching and Inauguration

TIME: 14 calendar days

RESOURCES:

1. Monetary: Q 25,000.00
2. Qualification: : the subjects necessary will be covered to enable participants to have the technical abilities.
3. Mentors: Each group of five participants will have a mentor who will help the group resolve issues and make good decisions.
4. Advisor: The participants will have an advisor living for a time in the house with whom they will be able to plan the activities for the following day and who will be responsible to approve the activities of the team, to assure the internal behavior, and the use of the resources are according to those assigned by the mentors.
5. Othersthey will provide transport, food and laundry so that participants can concentrate on the development of the business.

RULES OF THE CHALLENGE:
1. They will have to fulfill all of the proposed goals in each one of the phases.
2. They will have to take advantage of the qualities and knowledge of all of the members of the team.
3.They will have to democratically choose from among team members a person who will function as Manager and another who will function as Treasurer.
4. They will have to open a bank account. The checks must have two signatories: the Manager and the Treasurer.
5. All of the proposals and ideas brought to the mentors will have to be clearly written, direct and supported with real information.
6. All of the tasks will have to be divided equally and all participants will have to fulfill their responsibility.
7. Through the project, participants must maintain norms of moral and good behavior at all time, between individuals and among teams. Insults will not be tolerated, lack of respect or physical or verbal aggressions for any reason, will lead to the immediate expulsion of the member from house and the loss of the right to compete in this project.

SPECIFIC TASKS:
1. Investigation of markets:
a. Development of the concept b. Analysis of competition i. Knowledge of the product and use
II. Prices
III. Type of services to offer
IV. Barriers to entry
V. Cost of entering.
VI.Types of trade that uses the competition
c. Availability of local suppliers
d. Use of the product between the potential clients

2. Feasibility study:
a. Quotation for supplies, furniture and equipment
b. Evaluation of local suppliers
c. Development of costs, prices and margins
d. Development of budgets
e. Earnings statement
f. Flow of box
g. Projection of sales

3. Plan of businesses:
a. Product
b. Price
c. Plaza
d. Promotion
e. Suppliers
f. Competitive strategy
g. Niche market research

4. Qualification and Development of the plan of businesses:
a. Business development
b. Local negotiation of procedure
c. Required purchases of equipment, furniture and materials

5. Launching and Inauguration
a. Launching (creativity) of the company
b. Conducting business with clients