- Published: November 14, 2021
- Updated: November 14, 2021
- University / College: Simon Fraser University
- Language: English
- Downloads: 2
My business The Coffee Hut is going to be a small privately owned business by one person; a sole trader. Within the first 3 months of the business opening we aim to have turned a profit. Our main objective is to become a successful business; we want to offer our customers products for low cost effective prices. We will offer a variety of hot and cold drinks as well as freshly made sandwiches, salads, soups and etc. Customers will receive exceptional customer service and we will welcome and encourage feedback and suggestions from our customers. Our unique selling point will be that we will also offer a takeaway service with our food. Customers will be able to order our food via telephone and have it delivered to them. SWOT analysis
Strengths;
•New, fresh and different ideas to challenge competitors and appeal to customers. •Experienced staff dedicated to providing excellent customer service. Customers will appreciate having staff that care about them and know what they are doing. It will also benefit the company as they will save money when it comes to training employees •Fresh and high quality ingredients.
Weaknesses;
•As it is a new business we will not have an established customer base and initially it could be difficult building up the customer base. •I have no prior business experience so mistakes could easily be made and everything will be done via trial and error as I will not know for definite what are successful decisions to make and what should be avoided. •There are a lot of similar businesses in the area which already have a good and established customer base; it could be difficult to compete with this. Opportunities;
•The business will have the opportunity to expand in a variety of ways such as catering for parties/events and property expansion; opening more shops in different areas which will also expand the customer base. Threats;
•The biggest threat the business will face is competitors especially as I am a new business owner and inexperienced. Customers will already be familiar with the similar businesses in the area and it could be difficult especially in the beginning to get customers and to turn a profit.
