Essays on Your ultimate task is to demonstrate knowledge of the entrepreneurial perspective and write a Business Plan to commence a new University community oriented coffee shop business in a country of your choosing. Your University community can include stu Research Paper
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Executive Summary In entrepreneurship, it is advisable to perform a market study in order to determine which specific areas the business would pick up well, since the key factor to consider in business is to make profits. The proposed business name shall be “Quick Take Expresso” which refers to time consciousness; this is supposed to attract more customers who wish to obtain quick services given that time is money.
Appropriateness to the targeted market
The proposed strategic business location is appropriate to the targeted market since students often derive pleasure when working in groups at a relaxed place where they would share ideas (Pendergrast 24). However, all the requirements of students would be obtained with ease since students would openly request for everything that would be necessary in the process of developing the coffee market (Santo 36).
Overview of Business Environment in the Industry
Food industry thrives better especially when placed strategically next to an educational centre. Quick Take Expresso is strategically placed near Bon University to necessitate chances of availing catering services to the school community at large (Lury 52). Due to the alteration in weather and general climate most clients would prefer taking coffee hence the name Quick Take Expresso was derived (Michel 65).
Quick Take Expresso will operate on food stuffs, however, the main product that the company intends to deal with are coffee products, which are essential to the whole project (Hough 43). The company will be registered as a limited company; through the registration documents, there would be better opportunities when enquiring on how to expand the coffee palace to the university compound (Lury 54).
The business is to be established adjacent to Bon University, which covers a wide area hence large number of customers (Smith 43). The management should resort to seeking the student’s attention on the preferred coffee brand that most of the university population would wish to have. (Mueller 54).
In order to attract customer, the company plans to reduce the product prices by 5% so as to enhance the flow of services. This would be a boost to the number of visitors who would prefer to have snacks at the café in long run (Nagel 31). It would be a strategy to enable many people visit the shop. Through lowering prizes, the coffee shop would also gain on advertisement since people would not keep mum while they reached the required target (Gelder 69).
The high demand of such a coffee shop would assist the shop in gaining vast expertise in the marketing industry since customer demands differs from person to person (Hough 18). The company being peculiar, many customers are expected to flock the place since there would be free internet services to all customers and stakeholders in the marketing industry. This is Germany is ranked among the developed countries which is a great boost to the business (Michel 61).
This is mainly to attract more customers since the coffee shop will not be as tiny as the real coffee place would. Students and customers will always be right (Pederson 47); this would also be a discussion and refreshment hall where students and the college populace would connect their notebooks to the internet so that as they can discuss the various subjects and homework’s (Lury 78).
The mission of engaging in such business is to create a unique market in the coffee sector. However, the kind of comfort that will be fitted will make customers comfortable, through provision of ample times to relax and take what they feel since customer requests will have to be taken with seriousness that they deserved (Mueller 80). This would create a competitive environment that we would enjoy over the competitors in the same market of food industry (Pendergrast 55).
Estimated Market Share
The targeted population within the university is overwhelming hence the business objectively aims at introducing more coffee business adjacent to the four college gates, before venturing into an executive business company that should gain fame within the global scope (Pederson 58). The targeted population consists of both the youths and adults hence we would not restrict the services to coffee only, but there would be other foodstuffs (Nagel 34). However, about 70% of the students in Bon University prefer to have lunch in college, this would be a boost to the coffee shop since we would avail the necessary resources (Gelder 65).
The coffee shop is expected to be lively with options for customers to recommend what they would prefer to be availed in order to make them feel recognized. The kind of coffee that Germans like include but not limited to espresso, Senseo, Jacobs Krönung, Batdorf & Bronson and Lavazza. However, the coffee shop would also avail other light food stuffs to enable them increase their economies of scale (Hough 22).
Funding for the company
The company is supposed to obtain funds from both personal savings and loan from Barclays bank- Germany. This would enable the coffee shop to obtain all the necessary requirements so that the shop could function within a short timeline (Gelder 85).
The financial projection
Since the project would obtain fund from both the owner and the bank, the company will derive a financial plan that when followed to the letter, many jobless youths would obtain jobs.
Quick Take Expresso will luckily obtain funds from a bank, this call for smooth running of the business in order for the money to be paid back. However, after checking on the student population, there would be pressure in the market since the business is peculiar.
Gelder, Sicco Van. Global brand strategy: unlocking brand potential across countries, cultures and market. Bon- Germany: Springer, 2003, print.
Hough, Dan. The fall and rise of the PDS in eastern Germany. West- germany: Peter Lang, 2002, print.
Lury, Celia. Brands: the logos of the global economy. Krefeld- Germany: Peter Lang, 2004, print.
Michel Chevalier, & Gérald Mazzalovo. Pro logo: brands as a factor of progress. Paris- France: Springer, 2004, print.
Mueller, Barbara. Dynamics of International Advertising: Theoretical and Practical prospective. Bon- Germany: Springer, 2010, print.
Nagel, obert. Analysis of the Chinese Markets According to Market Potential for a premium coffee brand. Bon- Germany: Tchibo, 2005, print.
Pederson, Jay P. International Directory of Company Histories: Volume 99; Volume 99 . London - UK: Jay P. Pederson, 2008, print.
Pendergrast, Mark. Uncommon Grounds: The History of Coffee and How It Transformed Our World. Rome- Italy: Springer, 2010, print.
Santo, Roseane M. An Unashamed Defense of Coffee. Stanford- UK: Routledge, 2009, print.
Smith, Andrew F. The Oxford companion to American food and drink. London- UK: Oxford University Press, 2007, print.
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