The 2017-18 Wood Enterprise Institute (WEI) successfully designed customizable drink flights that are functional, ergonomic, and aesthetically appealing. The flights are customizable in regard to the number and size of glasses desired, wood species, layout, and laser engravings. These options allow for a competitive advantage to uniquely address the needs of restaurants, breweries, wineries, and individuals who utilize flights to serve drinks. By the conclusion of the flight business venture in spring 2018, the WEI team generated $4,395 in sales. While the team worked hard to improve its business operations to turn their weekly cash flow from a negative one at the start to an impressively positive one at the end, they ran out of time to pay back their initial business startup investment.  One major time-critical issue was a significant delay in getting approval for use of the Virginia Tech logo. This delay cost the team four weeks of online sales potential, which was a significant missed opportunity to pursue a positive return on investment.

Nevertheless, it was a year of many successes for the WEI. The team did their homework and created a product that uniquely satisfied their customers’ needs. The group pulled together to continuously improve business cost effectiveness to make and deliver their product profitably. By understanding their customers and focusing on creating a sustainable business, these students are well on their way to be the leaders and entrepreneurs of the future.

This fall semester, a new group of students are beginning their journey for the 2018-19 business. Currently, they are very deep in the process of brainstorming a new product for their business start-up. Stay tuned.

The students and I thank you for all your interest in and support for the Wood Enterprise Institute!