The Joyful Juicer

The Faculty of Business Studies of the University of Dhaka is home to an average of approximately
7000 students each academic year. Although several options for having a decent meal exist, there
is a glaring lack of a reliable juice and drinks corner. Poor hygiene and poor quality are still the
major concerns for the other options available outside the faculty when it comes to catering to the
need for a diverse range of drinks for these 7000 potential customers. Keeping these up front, a
group of sophomores have decided to launch a business venture in the form of a juice parlor,
locating the juice parlor adjacent to the Food Court of the Faculty of Business Studies, University
of Dhaka. However, sourcing of raw materials for the parlor’s operations has emerged to be
roadblocks. To operate in efficient and effective manner, the venture needs to be self-sufficient
with raw materials. If it can be self-sufficient, there will be no need of transportation of raw
materials which will solve the problem of roadblocks. In addition, if raw materials are by the
owner, there will exist no doubt regarding the reliability of the raw materials as well as the
products.
Needless to say, the group of second year students who has taken the initiatives to launch the
business venture of a juice bar is actually us because ours is a group which always think of doing
something new. All of our members have dreamt of being entrepreneurs! However, we named our
hero, the juice bar, “The Joyful Juicer”.
Our main purpose of the business should be providing quality items. We will focus on hygiene.
The quality of juices and drinks should attract customers as there exists lack of reliable items. So,
good quality items which are also hygienic and reliable will be our fort.
For to do so, we can cultivate different kinds of fruits of our own. If we anyhow manage a place
near university campus, where we can handle our own cultivation progress, it will also solve our
transportation problem. But it is not that easy to produce all the things and raw materials necessary
for the business. In this case, I will try to ensure that whoever is supplying raw materials for the
business, must be honest and faithful. Thus we can be able to ensure the quality of raw materials.
Thus we can avoid adulterated fruits and supplies which will lead us to produce good quality juice.
For transportation, if roadblocks is a problem, we can consult water-shipping. Though it is a time-
consuming process, it is cost-efficient and will solve the problem of roadblocks. We can use
“Ferri” in this regard.
Anyway, another major thing we have to keep in mind is managing inventory. Inventory is actually
a complete list of items such as property, goods in stock, or the contents of a building. The main
things on which we will focus in the case of inventory management that what we have, who has it
and the total cash. There are several things which are helpful for managing inventory. One of them
is “Spreadsheet”. We will use Spreadsheet (Excel, Google docs etc.) for managing inventory
because it is an excellent tool which allows us to carry out extensive analysis. Though using
spreadsheet is a slow and time-consuming and also an old process, spreadsheet provides free
services. We will also use Online Inventory Management Software which will help us to know
 what’s going on. Doing reports, forecasting, where things gone, where they went, what they cost,
what is spent; all of them will be done by such online software. There can be seen lack of system
optimization which can cause problems but we hope it will not be a major issue to hamper our
business and inventory management.
Another important thing is pricing the products. The Joyful Juicer will follow the seven basic rules
in order to pricing our drinks and juice:
1. Know the market. We need to find out how much customers will pay, as well as how much
competitors charge.
2. Choose the best pricing technique.
3. Work out our costs.
4. Consider cost-plus pricing.
5. Set a value-based price.
6. Think about other factors.
7. Stay on our toes.
Once pricing of our products is done, we will focus on achieving that pricing. We will pay attention
to how to attract customers to buy our products. Here “The Joyful Juicer” will follow Barry Rhein
who is the CEO of Barry Rhein & Associates, a highly sought-after, award-winning sales training
and consulting firm in the Silicon Valley that offers the highly acclaimed Selling Through
Curiosity™ and Managing Through Curiosity™ programs. According to him, we need to
 Know the difference between a benefit and a feature.
 Use vivid but plain language.
 Avoid biz-blab and jargon.
 Keep the list of benefits short.
 Emphasize what's unique to our venture.
 Make our benefits concrete.

The Joyful Juicer will also follow certain rules to sell more. Those are:
 Knowing its own product.
 Understand where it is in the sales cycle.
 Exude irrational confidence.
 Know its numbers.
 Define its next steps.
 Creatively outdo its competition.
 Be a good listener.
 Make a connection with the person on the other side.
By following these steps, we hope we can be able to achieve our pricing. We are hopeful about
The Joyful Juicer. It will work on providing good quality juice and drinks as well as create a
friendly environment for the customer. It promises to ensure hygiene along with healthy drinks
and juice.