Champlain Business Association Cotton Candy Vending Machine Proposal

1. Executive Summary:

This proposal aims to establish a collaboration between the Champlain Business Association ("CBA") and a local business partner through establishing a Cotton Candy Vending Machine on the business partner’s premises. The association believes that introducing such a machine would enhance the guest experience by offering exposure to the wonders of robotics paired with a delightful treat for all ages. Sourced from Guangzhou Fun Vending Electronic Technology Co., Ltd., the vending machine boasts advanced features, including remote monitoring, ensuring optimal performance and minimal downtime. Furthermore, the machine will offer high-quality cotton candy produced from ingredients meticulously selected from verified suppliers, with additional flavor options sourced locally to cater to diverse preferences, such as a Maple flavor. Procurement and supplier negotiations will be managed by the CBA, operating under the directives and requirements established by the partner business, ensuring seamless execution and compliance with organizational standards.

2. Background:

The Champlain Business Association (CBA) endeavors to establish a robust and inclusive platform for Champlain student entrepreneurs, offering them access to opportunities and support necessary for launching successful ventures. Recognizing the need for practical business experience and sufficient funding, this project seeks to establish a sustainable business model whose proceeds will be directed toward supporting Champlain College student entrepreneurs striving to make a positive social impact in the local community. In pursuit of this goal, we are seeking a business partner that aligns with our values and goals.

3. Scope:

The project scope entails the installation and operation of a single cotton candy vending machine within the premises of the selected business, with operational timelines aligning with the business's annual & daily schedules. Any further collaboration between the business and the CBA, or Champlain College, will be subject to future negotiations. To facilitate effective communication and coordination, a direct line of communication will be established between the Student Enterprise Committee of the CBA and the business's designated representative.

4. Budget:

The CBA covers all expenses related to the machine, encompassing its purchase price,

shipping and handling, supplies, insurance, and any additional travel or miscellaneous costs.

Additionally, the business will be reimbursed for electricity expenses, and 12% of all machines sales will be paid as “rent” to the business. Product sales are set at a fixed rate of $5 per stick.

5. Risk & Operations Management:

All supplies for the project will be sourced from verified suppliers, with a focus on procuring

locally produced ingredients whenever feasible. Collaborations have been established with

reputable local partners, including Morse Farm Maple and potential berry suppliers, to expand the array of locally sourced flavor options. Identified risks associated with the project include fluctuations in demand, equipment malfunctions, and maintenance challenges, alongside potential lack of support. To address these risks, comprehensive mitigation strategies have been devised, including regular maintenance checks facilitated by remote monitoring, implementation of stringent quality control measures through updated supplier agreements, and already developed contingency plans to counter supply chain disruptions by maintaining abundant stock levels with sufficient lead times. Lastly, regarding workforce, the CBA Student Enterprise committee will oversee maintenance and upkeep, utilizing student volunteers or paid third-party services as a contingency measure. Operational requirements include periodic access to the vending machine location, estimated at 15-minute intervals on a weekly or bi-weekly basis, depending on demand. This access is necessary to facilitate refilling, maintenance, and cleaning procedures of the vending machine.

6. Benefits and ROI:

The cotton candy vending machine introduces a novel blend of entertainment and

innovation, offering guests an engaging and memorable experience. Unlike traditional vending machines, this state-of-the-art technology integrates robotics, transforming the simple act of dispensing cotton candy into a captivating spectacle that appeals to guests of all ages. Its interactive nature fosters a sense of wonder and excitement, aligning with the business's mission to provide immersive and memorable experiences. Beyond its entertainment value, the vending machine presents a lucrative economic opportunity for our local business partner. Projections suggest an annual return to our business partner ranging from $1,500 to $3,000, depending on demand, which can bolster the business's petty cash reserves and support operational needs. The revenue generated by the vending machine will serve as a sustainable and reliable income stream.

7. Implementation Plan:

Coordination efforts for the installation will commence after negotiations have concluded, and scheduling will be coordinated with the business’s representative. Once the machine is installed, the Student Enterprise Committee will begin their respective duties to ensure seamless integration into the business’s normal operating hours.

Supplies will be procured and stored offsite. Operational procedures and maintenance schedules will be finalized in collaboration with the business’s representative to ensure effective cooperation between the two organizations. Oversight of the execution of this project will be managed by the Student Enterprise Committee.

8. Governance and Oversight:

The project's governance structure involves oversight by the Student Enterprise Committee, with each member assigned distinct roles and responsibilities. Additionally, the Director of the Center for Innovation and Entrepreneurship will provide guidance on all Association activities to ensure comprehensive compliance with listed goals, duties, and objectives of the CBA.

9. Next Steps:

Upon approval from the business partner, the CBA will initiate the procurement process for the vending machine, with an estimated shipping lead time of 4 to 6 weeks. Continuous communication between the CBA and a selected business representative will oversee the coordination for the delivery and installation of the machine, ensuring minimal disruption to normal operations.

10. Conclusion:

In conclusion, the introduction of a cotton candy vending machine on our local business partners premises promises to elevate guest satisfaction, boost revenue, and deliver a memorable experience for visitors and customers alike. With meticulous planning, diligent oversight, and effective execution, we anticipate this project will significantly enhance the business’s offerings and overall success. Moreover, through this collaboration with the Champlain Business Association, we aim to foster innovative entrepreneurial ventures among students, empowering them to make a positive social impact in the community. Should you have any additional questions or concerns regarding the collaboration or the machine itself, please feel free to contact Nina Isabell at nina.isabell@mymail.champlain.edu or Reilly Roth at reilly.roth@mymail.champlain.edu .