Five K challenge

Five K Challenge

Five K challenge is about the fellows business, where fellows should use their skills to do the business with five thousand rupees within five days. Fellows are given five thousand rupees from the Deshpande Foundation. They themselves should study the market to choose the product for the business. This 5K challenge is to develop the marketing skills, if fellows want to start a business first they should know the market strategies and than they should start the business.
Dev and Chandrashekar were partners to the 5K challenge. Fellows chose to sell mobile currency and onions. They met with shopkeepers for currency business, but many shopkeepers asked more percentage of profit. At last fellows got one person to take five thousand rupees for the business. Fellows settled to an agreement that with five thousand rupees within three days the shopkeeper should give 200 Rs to them.
In these four days fellows had been to market, after studying the vegetable market they have decided to sell onions. Early in the morning they went to wholesale vegetable market and purchased fifty kgs of onion. Fellows purchased onions 6 Rs per kg and sold 8 Rs per kg. They took 25 kgs of onions to Dharwad to sell and 25 kgs they sold to their hostel kitchen, after selling 50 kgs and they got 200 Rs profit.
In the market fellows found different types of customers. They chose some families and hotels to sell the products. Especially bargaining with the vegetables sellers was very tough job.
Fellows invested 5000 Rs, revenue generated was 5300, and travelling expenditure was 112, telephone expenses was 08. finally they got net profit of 180 Rs.


What I Learnt
Through this business I learnt many things. It is very difficult to study the market, choose the product, and sell. After purchasing products fixing the price also is also difficult. Some customer will ask for a very less price. By doing this business I learnt how to bargain with the vegetables sellers, how to convince the people to sell onions, and now I am confident. I can choose the right product and run a business.