I interviewed Stephanie B, Vanessa W, and Kevin H as existing customers. When I asked Stephanie what we should be doing that I am currently not thinking of, which is the initial set up tasks for establishing and opening the business, Stephanie said that I should be focused on developing customer interest. She said that going to the local farmers market with samples while the concept is being built would create a desire for it before we open to accelerate the growth process. When I spoke to Vanessa, she informed me that it would be beneficial to start running social media promotions with gift certificates or giveaways to drive customers into the location in the first week of opening. Kevin said it could be useful to start working on outsourced bakers to supply baking goods and to explore other partnerships that could drive customers into the location seeking other products like grab and go frozen meals.
The new market I established is a catering model for businesses. There are multiple businesses in the area that are small businesses. I feel that if I had staff that could deliver coffee to those businesses daily, there could be a significant revenue stream created. If our location doesn't have a drive through this could be critical to ensure we can't be beaten by a competitor that opens with a drive-through. The level of customer service provided by offering delivery for coffee and pastries would also create a competitive edge that would be hard to duplicate quickly.
I really like all of those ideas, since there are so many opportunities with a coffee shop. Hence, after you have proven yourself successful in the coffee business there are countless opportunities for you to let your creativity come out.
ReplyDeleteI had not thought about delivering for coffee. I do not think mainstream competitors deliver coffee, unless through outside resources. What I am concerned about is the drivers. Are you delivering in bulk, or is it single orders? Because if it is the ladder then gas costs might not be worth it.
ReplyDeleteShalom Alan, I really love how creative you got with this post; I truly enjoyed reading it. I wonder how much money you could truly make from catering you coffee. I would love to see the actual numbers even though I know that's not possible when were just talking about an idea. However, I do agree that if you could make this financially possible, you would achieve a strong competitive advantage in the market. As always, great job Alan!
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