Rapport Engelska (Chocogift UF) (PDF)

REPORT

Report, UF-Company of the year (Årets UF-Företag) 2017/2018, Nordenbergsskolan, Blekinge

Introduction
Who are Chocogift UF?
Our year summary
Our economy

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Our Product
The Product
Competitiveness
Development potential
Product overview

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610+ sold boxes
100% Love and Happiness

Our Team
Team development
Experiences
Teampresentation

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Our Market
Market
Marketing
Distribution
Market overview
Social media

Our Economy
Pricing
Profit and loss statements
Balance sheet
Signatures

Foreword

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“There is nowhere else in nature where there is a such a great
concentration of the most valuable nutrients in such a small
space such as the cocoa bean” - Alexander von Humboldt
Chocolate is a way to enjoy life and indulge just that little extra
bit. To have the opportunity to share chocolate with friends and
family elevates life to the next level. There is no secret that all of
us that are behind Chocogift UF have a love for chocolate. Just
as much as we are passionate about chocolate, we are passionate about caring for friends, acquaintances and strangers alike.
We are proud to have successfully developed a product that is
able to spread happiness, love and consideration. As the VD of
Chocogift UF I am extremely proud of my fellow business colleagues that put in invaluable hours of time into our business,
listened to each other and aimed for the stars. We are an amazing team and I am forever grateful.

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Our Goals

Spread love and happiness
Reach a total revenue
34000 kr
Build a strong brand

Chocogift UF

Be visible on social
media

Emila Nilsson
CEO, Chocogift UF

Learn as much as
possible about
running a business

chocogiftuf

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Our Year in Short
26/8 - First prototype completed
13/9 - First order of chocolate
30/9 - First sales opportunity at a Farmers’ Market in
Olofström
18/10 - Won the competition “UF-Company of the month” in
november
27/10 - Elon in Karlshamn bought 80 boxes and invited us to
their customer evening
9/11 - Sold chocolate boxes during open house in
Nordenbergsskolan
9/11 - Held a presentation for a “Dragons Den”
10/11 - Were featured in the newspaper 24 Blekinge
17/1 - Hairdresser stocked our product and sold them to
customers
18/11 - Sold chocolate in Lönsboda at the Christmas market
“Granada”
20/11 - Launched latest chocolate box “Merry Christmas”
21/11 - BLT published an article about the company
3/12 - Christmas market in Tingsryd and Olofström
5/12 - Citybolaget bought 30 boxes of chocolate
7/12 - Launched a new box of chocolate, “Happy New Year”
15/1 - Hosted a competition that reaches over 1450 people
30/1 - Launched our latest box of chocolate “Valentines day”
12/2 - Launched personalized messages
17/3 - first page in “sydöstran”

Who are Chocogift UF?
- an introduction Our business concept is to sell chocolate boxes that contain exclusive
chocolate truffles in six distinct and wonderful flavours. The boxes are
covered with personalized messages such as “I like you” and “Congratulations”. Our product solves the common problem of not knowing what gift
to bring to a party, birthday or dinner. We have a personalized chocolate
box for every situation.

Our Product
Our product is a box of chocolates; but just
as important as the chocolate truffles inside
the box is the personalized message on the
outside of the box. These personalized messages are the basis of our business idea and
make our product stick out from the rest. The
messages can be varied infinitely and only
your imagination can set the limit of what is
possible with our product. The text, color and
pictures can be varied with just the click of a
button. Without the need to produce a completely new chocolate box for every variation
of our product, it is possible for us to change
our product quickly and easily to adapt to the
needs of the market. The latest change of our
product is allowing the customer to select the
text and color that they want on their personalized chocolate box. They can now create a
completely unique gift by just pressing a few
buttons on our website.

At the start of september we had a finished
product that we were happy with and started selling. On the 30th of September we got
our first chance to sell our product at a small
farmers´ market in Olofström where we sold
close to 50 chocolate boxes within one day.
Throughout the rest of the year we have sold
over 600 boxes of chocolate and been featured in local newspapers, launched new personalized messages, participated in popular
competitions and gained a large following on
social media.

Our Year Summary

Our economy

Throughout the year we have experienced
both fun, tough, rewarding and challenging
moments. We started developing our product early by creating prototypes and had a lot
of ideas before we settled on a product that
we were satisfied with. We spent a lot of time
developing our product by trying different
types of boxes, chocolate and different ways
of putting our personal touch on the box. We
had to consider both pricing, quality and the
ease of putting the boxes together.

Today we can present a result of 17 429 SEK
and a total revenue of 39 935 SEK. Our revenue is calculated for the period of September
2017 to March 2018. At the end of the period
our costs were 19 939 SEK. As of now, the
majority of our costs are connected to the
purchasing of our product as well as the costs
for event participation.

“We usually compare our team to a box
of chocolate. The best box of chocolate contains different kinds of chocolate where all the flavours complement
each other perfectly.”

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Our product

Personalized Message
To spread love and
happiness

- a closer look Our product is central to the success of our business and in this section
we will take a look at what our product looks like today, what components make up our product, how competitive our product is compared to
other products and how we can further develop our product.

The lid
Folded by us

The product
Our product consists of different components;
some of which we make ourselves and others that we purchase. We create the personal
messages and flavour guides ourselves as
well as pack the boxes by hand. Our chocolate boxes contains chocolate truffles in six
wonderful flavours.
The personal messages are just as important as our chocolate. The first nine personal
messages we selected included both general
messages, such as “I like you” and “Instead
of a flower”, and more specific messages,
such as “Best friend”, “Mom” and “Dad”. Our
season-based messages, “Merry Christmas”,
“Happy New Year” and “Valentines Day”, were
all very popular and have their own unique
colors to stick out from other similar gifts.
Completely personalized messages were
something that our customers asked for.
Messages such as “Congratulations on your
20th Birthday” or “I love you Oscar”, are impossible for us to mass produce. Therefore, we
decided to introduce personalized messages. On our website it is now possible to order
personalized boxes and only your imagination
sets the limit for what is possible to write on
your box of chocolate.

Competitiveness
What makes our product unique is the ability for our chocolates to work as a personal
and beautiful gift for any occasion. Nothing is
stopping the customer from purchasing a box
for themselves but our product really shines

Flavor guide

Finding the perfect personal message makes
it memorable and valuable for the person
receiving the gift as well. The possibility to
design your own personal message on the
boxes for a reasonable price also makes our
product quite unique on the market. Not a lot
of businesses offer a way to buy a personalized gift without ordering a massive amount
of the product.

Orange
Neutral
Mint
Sea Salt
Raspberry
Caramel

Chocolate truffles
the core of our
product

Developement potential
A development potential for Chocogift UF is
to reduce the time it takes to complete every
individual box, which limits our profitability
the most. During the year we have succeeded to reduce the time from three minutes
to approximately one minute per box. Furthermore, by investing in better tools for our
personal messages, outsourcing part of our
business to external factories or by developing an automatic system to produce and print
the personal messages, we would be able to
reduce the time for every box and in that way
increase our sales.
Two further development potentials are the
ideas of selling our product to retailers in
order to reach out to new customers and also
emphasize the opportunity for customers to
design their own personal messages. Furthermore, another opportunity for our business
to grow would be by combining our personal
messages with other similar products such
as gift baskets or flowers. The amount of gift
products like these on the market are very
small, especially for individual buyers.

Silk Paper
to protect the
chocolate

colour coded bottom
to be able to
differentiate between
the flavors

Insertion
To hold the chocolate
in place

The bottom
Folded by us

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OUr team
- a closer look The people that are behind the company are the key to success. Setbacks encourage ingenuity and hard work, and passion and wisdom
create success. We are a team that works together, discusses ideas and
learns together as a group. We have gained knowledge about entrepreneurship and how a business operates.

Emilia Nilsson
CEO

team development
Trust, openness, dedication and responsibility are the keywords to a well functioning
team. The first thing our teachers told us when
we were about to start our business was to
choose competence before friendship. We
chose both and it was the best decision we
made. We are four people who work incredibly
well together and at the same time have our
unique abilities. We knew from the beginning
that it was us four who were meant to run this
business together and that we would learn
together, have fun together and succeed with
our business together. There are many advantages with cooperating and developing a
business with your friends. We have, for example, noticed that it is easier to be more forward
and say what we think. It also became easier
for everyone to find inspiration in a team where
engagement is key. We usually compare our
team to a box of chocolate - the best box
contains different variants of chocolate where
every taste is different and complements each
other.

Experience
During the year we at Chocogift UF have
gathered incalculable amounts of experience.
Our journey throughout the year has been far
from problem free and our knowledge has
continually developed, as we have grown both
as a company and individuals. We have been
put in situations where we have been forced to

“Emilia is our CEO and the most
important task she has is having a
long term and broad thinking that
will benefit the company long term.
Emilia is also responsible for managing the group dynamic and making
sure that everyone feels comfortable
in the company.”

“Lukas has an eye for color, shapes
and design while also being competent in several types of editing
software, which is an important
part of our company”

solve different problems, be creative and allow ourselves to compromise.
An example when we had to come up with
a different plan was in the beginning of our
UF-year. Everything was ready to go and the
supplier had been selected and the product
developed. It was then that our truffle supplier messaged us that they could not deliver
the truffles in the low volume that we had
requested. A number of compromises, new
propositions and ideas later we managed to
solve this dilemma and we were very pleased
with the product we could present to the
community.

Lukas Holgersson
Product & Design
“Elias can pitch our product
while asleep and still close
the sale, he is a professional at
catching customers and reading
their needs and desires”

Initiative, courage and responsibility are only
a few of the experiences that we carry over
from this experience. For us it is clear that one
of the most important factors in a business is
daring to reach out to new customers, suppliers and other potential partners. Behind
success lies hard work, organisation and planning. Even if it feels tough in a situation, hard
work always pay off in the long run; which we
have experienced several times. Last but not
least, possibly the most important thing that
we have learned is that it is really fun to run a
business, to learn new things and to see your
product on the market.

Elias Wielgaard
Sales
“Yasmine is responsible for our
economy, her responsibilites include managing budgets,
accounting and purchasing”

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Yasmine Gustafsson
Economy

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cus
tom
ers

Our market

Norway
Our first customer outside of
sweden

- a closer look Knowing our market is essential to increase sales and building a strong
brand. We will now take a closer look at who our customers are, how we
reach them and how they receive our product.

Ou
r

UMEÅ

The market
The market for chocolate is very large because there are many brands and varieties to accommodate the many people that
love chocolate. Trying to sell chocolate to
everyone who likes chocolate is unrealistic. Therefore, we have decided to target a
specific group of people. Our target group is
middle-aged men and women who have a
good financial standing. We believe that they
are the people who are going to purchase
our product the most and be the most loyal
customers because our product is a good
gift for families.. Teenagers are also a smaller
potential target group because they can use
our product to give to friends or family for
different occasions such as parties or holidays.
Another large, but slightly different target
group is other businesses. It is very profitable
for us when other businesses buy our product
because they can buy in large quantities for
their employees or customers.

Marketing
Marketing is the key to success for Chocogift
UF. Thanks to marketing, Chocogift UF is able
to get a wide dispersal and to reach out to
many potential customers. This hopefully results in a wider circle of contacts, an expanding market and increased sales. Marketing
can be used in many different ways, which we
have chosen to take advantage of. Our main
marketing channel today is Facebook. We use
Facebook to publish different news about our

Leksand

company, events we are going to attend and
competitions our followers can take part in.
For example, we posted on facebook when
we received the “UF Company of the Month”
award in November. This gave us a lot of positive publicity. Facebook is a great marketing
channel because it makes it easy for advertising posts to spread, thanks to our followers,
families and friends. When our followers like a
post, the post is visible for their friends to see
on their Facebook account’s as well. We also
use other social medias like Instagram and
our website. We have been in contact with
local newspapers as well and several articles
have been written about our company.

Lidingö
The customer that lives closest
Norrköping to stockholms inner city
Jönköping
Halmstad
Växjö
Olofström, Lönsboda och Ryd
Our home towns, where most of our
customers reside

Some of our successful posts on social media

distribution
Chocogift UF:s product distribution has
developed since the business start. During
the start of the year the products were distributed personally at different sales opportunities. Later on, we published our webshop
and allowed for us to send our products by
mail, which increased our ways of distribution. Our webshop gave us the opportunity
to reach out to even more customers all over
the country, which is why shipping is a great
alternative. The personal meeting with our
customers is still very important for us and
we are trying to maintain consistency with our
customers by giving them the opportunity to
pick up their product in either Olofström, Ryd
or Lönsboda.

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Our economy
The pricing of our product is based on different aspects such as purchasing costs, the time it
takes to complete the final product and answers from a performed market survey. The expense
price for the creation of our product is approximately 23 SEK for the small box and 37 SEK for the
large box. To create a profitability for our UF-business we have a relatively large markup, and
we have made the decision to add a few extra SEK due to the time it takes to complete the final
product. Before the decision of the price was made, we made a comparison between the answers from a market survey and our own suggestions. The current price for our product today is
49 SEK for the small box and 89 SEK for the large box.

Small box

Profit and loss statement
Revenue
sales1
other Revenue2
in Total
Costs
Purchasing costs3
Event costs4
other costs5
in Total
Result

Balance sheet
Assets
Cash
Bank
in Total

3 239,00
22 599,91
25 838,91

Cost of production
Sales price
Profit
Coverage ratio

For the period 2017/09/01 - 2018/03/20

43 517,00
===335,90
43 852,90

Large box

21 994,37
===919,95
===299,67
23 213,99
20 638,91

Costs of production
Sales price
Profit
Coverage ratio

Earnings

Liabilities
Private equity fund 5 200,00
Result
20 638,91
in Total
25 838,91

Olofström, 2018-04-08

Lukas Holgersson

36,8 SEK
89 SEK
52,2 SEK
59%

For the period 2017/09/01 - 2018/03/20

43 853
34 000

1. Sales of chocolate boxes
2. Income consisting of delivery costs, tips and interest
3. Purchasing costs of truffles, boxes and other components
4. Costs of event participation
5. Costs of delivery to customers

Emilia Nilsson

22,7 SEK
49 SEK
26,3 SEK
54%

Yasmine Gustafsson

Elias Wielgaard

Budget

Outcome

I have examined Chocogift UF:s profit and
loss statement, balance sheet as well as
the boards and CEO:s management for
the period 2017-09-01 to 2018-03-20. The
examination has been completed according accounting praxis. I have come to the
conclusion that: the profit and loss statement, balance sheet as well as the yearly
report has been made according to swedish
accounting law.

Carola Olofsson (UF-teacher)

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