The paper "New Generation Coffee House’ s Business Strategies" is an outstanding example of a business plan. New Generation Coffee House will aim at creating a unique relaxing environment where clients can socialize while enjoying a cup of coffee-related brews. The establishment will engage in the business of providing quality service to clients and a unique relaxation environment. 1.2 Goal The goal of the New Generation Coffee House is to be a café of choice for the residents of West town Suburbs and students of the University of Technology Sydney. As a result, it intends to create and sustain profitability for the next five years. 2.0 Market Feasibility The target market for this establishment is any person who enjoys coffee but mainly students from the University of Technology Sydney.
The café will take the advantage of the huge customer base. The location in itself is suitable because there are no such setups in the vicinity. The area is heavily populated with young people who are majorly students from the University of Technology Sydney. Young people like socializing and this gives it an advantage over other setups.
This will be boosted by the availability of fast speed internet connectivity. Australians are among the best lovers of coffee (IBISWorld, 2016). Coffee use has increased immensely over the past few decades. This is evidenced by the increasing number of coffee shops and cafes. The coffee industry is expected to grow by 6.9% in the 2016/2017 period (IBISWorld, 2016). At the same time, findings from the research reports indicate that the coffee shop and café industry is expected to grow by 2.6% annually for the next five years (IBISWorld, 2016).
The rapid growth of similar establishments in other places of Australia is a strong indication of an industry growth phase within its life cycle. New Generation Café will take the advantage of its existence in an area where there are no coffee shops. This does not rule out the fact that there will be competition. The competition will be minimum because of the uniqueness and specialization in coffee.
ReferencesIBISWorld. (August 2016). Cafes and Coffee Shops in Australia: Market Research Report. [Online]. Available from < http://www.ibisworld.com.au/industry/default.aspx?indid=2015 > [Accessed on 12th October 2016]