Monday, October 28, 2019
Business Feasibility StudyÃ¢â¬ Seventh Heaven CafÃÂ© Essay Example for Free
Business Feasibility StudyÃ¢â¬â Seventh Heaven CafÃ © Essay Seventh Heaven Cafe is not only a coffee shop, or rather a place for relaxation. It sells different kinds of coffee, desserts, books and flowers. Customers bring them back or just enjoy them in my shop. Besides, I am good at dealing with problems of Organizational Behavior. I also have great expertise in human psychology and marketing. Therefore, I have the abilities to operate this shop. Seventh Heaven Cafe targets at white collar community and some companies which need flowers to decorate the site of activities. Therefore, it is located at the street corner with elegant environment near transnational commercial corporations in Suzhou. Seventh Heaven has to confront or avoid a number of threats, especially some strong competitors, such as Starbucks, UBC Coffee and DIO Cafe. However my shop has powerful competitive advantages to face the challenges. Additionally, our market-oriented mission is Ã¢â¬Å"make people happy and relaxed in the Seventh Heaven Cafe by provide delicious coffee, warm fragrant memories and dreams from books. Ã¢â¬ The primary finance objectives are to get first-year sales revenue of 1 million yuan, and break even early at least achieve 3 million RMB in second year. After on track, shop scale and economic benefits will increase year by year. To achieve this goal, we should make sustaining efforts on marketing strategies, such as promotion strategy and price strategy. This new combination coffee shop will be successful and this business idea is worth pursuing. Section 1: Personal Skills, Qualities and Experience I have obtained an MBA degree from the Liverpool University five years ago. After that, I have worked in a local company for four years. Then I came back to my country and planned to do pioneering work. So I have some basic abilities and work experience to operate this coffee shop. I have learned many useful skills and valuable knowledge from university. Firstly, the Organizational Behavior Study covers three levels of analysis, but intertwined, such as individual, group formation and decisions making. So it is practical for me to do the business. Secondly, I was interested in the course of Marketing when I am a student. It has huge effect on my occupational career. However, these courses just are foundation. My work experience background is a critical element for later entrepreneurial career. Nevertheless, I still need some other outside help. About initial capital, it comes from my personal savings (1. 5 million RMB) and my parentsÃ¢â¬â¢ investment (0. 5 million RMB). In addition, recruitment and selection of good employees is vital part of success. My mother was a senior accountant before, so she could help me manage finance matters. Besides, I also need a first-class barista and a pastry cook, a waitress and a waiter with good looking, as well as a professional purchaser. Section 2: The Business Idea and Market Assessment Product and service Before making decision to start business, I used questionnaire to get and analysis customersÃ¢â¬â¢ demand. So Seventh Heaven Cafe is not only a coffee shop, or rather a place for relaxation. It sells different kinds of coffee, desserts, books and flowers. Customers bring them back or just enjoy them in my shop. My coffee shop called Seventh Heaven, this name represents happy, pleasure and relaxed. I want to my customers get out of the pressure and tiredness, enjoy the release of soul and physical relaxation in Seventh Heaven. Relaxation can bring comfortable feeling to you and have benefits to your health. When you come in the Seventh Heaven, you will feel the music in the air washing your spirit and smile of waiters warming your heart. The flowers tinged the air with their light fragrance. At spare time, you could read a good book alone and drink a cup of delicious coffee, or talk with your good friends with some scrumptious snacks. Owning good books, intimate friends and a serene heart, that is a perfect lifestyle. This is something I want to provide to people, enjoy life, and live in the moment. Target market and customers One of our target markets is white collar employees with middle or high income. These people pay more attention on quality of life and have a good consumption level. Another is business customers, which need flowers to decorate the site of activities, parties, events or meetings. Competition However, there are some strong competitors in this market, especially Starbucks. It is the worlds largest coffee shop chain from America. Starbucks enjoyed a higher reputation and strong brand effect in China. There are about 31 Starbucks in Suzhou alone, but some problems are observed in the course of rapid extension. For instance, single and boring of the unchangeable products and service is a big weakness. To the contrary, Seventh Heaven Cafe provides a combination service and products to customers. It is a novel and creative form to attract people. Besides, high quality service and elegant environment are our powerful points of attraction. Sales and marketing strategy To gain more customers, the price of our products is slightly below the Starbucks. Internet advertising and posters are effective for publicity. Furthermore, we use push money and allowance to motivate my employee to increase sales. Critical risk factors Despite of these, some risks still exist, for example some people are reluctant to try something new, or we make losses at early stage. All of budgets are based on the business feasibility study, but there are so many unpredictable changes in the reality, the cash flow may be not enough. Moreover, the shortage and outflow of talent in related field are hidden trouble for the business.