https://padlet.com/brody40/w496d23wme6afm43 Econ en-us 2023-02-27 19:39:10 UTC 2023-03-01 19:45:08 UTC hello@padlet.com brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2499959270 Throughout the early 1990’s Stacy was living in Hawaii barely living on an income strong enough to support herself. She was working for a new small surf shop restaurant as a waitress. The restaurant was bought by someone else and renovated and soon it had become a popular and trendy tourist spot. Stacy was soon making more money and now she was able to live a healthy and decent lifestyle. As soon as she started making more money she asked the owners what about the bonuses and raises they promised her. After bringing this up she was soon let go which sparked her entrepreneurship mindset. Her whole life she had been working for a “boss” but now she felt that she was capable of running her own business. She stated “If I am able to work this hard for someone else, Why can’t i work this hard for myself”. She soon began her own journey. ]]> 2023-03-01 18:05:07 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2499959270 brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2499975910 After being devastated from losing her job in Hawaii, Stacy and her friend move to the cities of Boston. Neither of them had any money to their name and both had some significant student loans that needed to be paid off. They compiled enough money to buy a food cart in which they began selling Pita bread sandwiches at the corners of streets. This soon began to attract daily customers as they would set up in the same place every single day. A problem began to arise that their lines got too long in which people were not willing to wait in such a long line for food. To fix this problem Stacy would go home at night and bake day old pita bread to make pita chips. For the people in line she hand out these pita chips as an attempt to retain customers. This soon became a hit and people wanted to buy these chips by themselves.  ]]> 2023-03-01 18:17:08 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2499975910 brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2499987742 Stacy, still selling out of her sand which cart, began recognizing this gained popularity for her pita chips. However there stood a problem in her way. She was only able to produce her chips in a 8 rack oven which greatly limited her production. She needed to find a bigger oven which would help her be able to produce more chips much more efficiently. While selling food at her food cart, Stacy’s was approached by a women who sold pretzels. It turns out that this women loved these pita chips so much that she offered to help bake them in her own 40 rack oven. Soon they were able to increase their production by over 5 times because of the new oven. This is capital because they are now able to scale up in terms of production. ]]> 2023-03-01 18:25:51 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2499987742 brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2499996601 After continuing to produce her chips on a much more productive scale Stacy was faced with a decision. She was split between continuing to run her small food cart or pursuing the Pits Chips. To take things into account she thought about how much the food cart would be able to scale up, in which she found that she couldn’t. She talked about how people are probably not willing to stay in line for this small food cart when they are able to go elsewhere such as Dunkin’ Donuts to any other place which is easily accessible. She made the entrepreneurial decision to close the food cart and focus on the peta chips because it had a much higher ceiling. ]]> 2023-03-01 18:31:58 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2499996601 brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2500003271 As her Pita Chips began finding themselves in whole food stores around Boston, Stacy was getting more and more interesting in mass producing these. She soon asked the bank for a small loan of 60 thousand dollars in which they would accept, but after blowing this money on packaging and production she realized she needed a bigger loan. Just a little more than a month after asking for the first loan she was now asking the bank for a 500 thousand dollar loan. The bank declined unless they could obtain some sort of equity in the company in which Stacy declined. The bank and Stacy were able to settle on a loan of 350 thousand dollars which greatly helped Stacy market her chips by handing out samples across all stores in Boston.]]> 2023-03-01 18:36:49 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2500003271 brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2500025787 At one point Stacy’s brother was joking about joining her small team as he was already married and had kids. But later he realized the potential of this business and wanted in. He told Stacy he would work for minimum wage as his wife already had a well paying job. Stacy accepted because she knew how important he would be for her team. He had a marketing major so as soon as he entered the team he was able to make key decisions relating to the distribution of Pita Chips. He was able to get these chips into all natural stores as well as many other whole food stores and bread shops.]]> 2023-03-01 18:52:00 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2500025787 brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2500036421 After a year of hiring new employees Pita Chips now had a steady flow of production and revenue. Everything that Stacy was able to make in terms of revenue, was reinvested back into the company. Millions of dollars each year would be put back into he company to increase their capital and land. Examples of this would be increasing factory size and natural resources such as farming and harvesting for the chips. With all this money being reinvested into the company the growth of it was rapid. ]]> 2023-03-01 18:59:50 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2500036421 brody40 https://padlet.com/brody40/w496d23wme6afm43/wish/2500043540 Stacy was approached by Pepsi because they were interested in buying her company. They came to an agreement in which Stacy acquire at least 65 million dollars worth of revenue for a year then they would sell Pits Chips to Pepsis for just under 250 million dollars. When first begin approached by Pepsi Stacy was unsure but taking a step back and realizing how far she had come she felt that it was the right step in her life to make an entrepreneurial decision to sell the company. Pita Chips is now operating under the Frito-Lays production company which is owned by Pepsi. ]]> 2023-03-01 19:05:12 UTC https://padlet.com/brody40/w496d23wme6afm43/wish/2500043540