4A – Forming an Opportunity Belief
ENT3003
Chris Ward
There is an opportunity in my area
for a local coffee shop. The local Starbucks
is ten miles away and most of the time in the wrong direction. The only place to get a coffee in the morning
is a Dunkin Donuts, which has terrible service and even worse coffee. I have
been to other small towns that have a local coffee shop and they are always busy.
Which leads me to believe it could be quite profitable and beneficial to the residents
in my area. I, like many others drive
into Orlando for work every morning which is a forty-minute drive. During this time, I usually drink the coffee
I made at home because Starbucks or Dunkin Donuts are in the opposite direction
of the turnpike entrance. A local coffee
shop strategically placed would do quite well.
1.
Construction Project Manager
·
Do you drink coffee on your way to work in the
morning?
Yes, usually a couple cups before I start my day.
·
Do you buy it or make it at home before you
leave?
Depends, usually I make it at home but if I’m going by Dunkin or Starbucks,
I’ll get one there.
·
Is it just the location of the coffee shop that
prevents you from buy it every day or is it something else like price?
Typically, it just depends on which direction I am going.
·
If there is a more local coffee shop would you
stop every morning?
Probably most of the time
·
What would you expect to pay for your coffee?
Just a few dollars for a regular coffee, more if it were similar to Starbucks.
Reflection
As I suspected, the location of the coffee shop dictates whether or not
he buys a coffee or makes it at home. The
opportunity is supported by this potential customer.
2.
Employee at a local medical office.
·
Do you drink coffee on your way to work in the
morning?
Yes
·
Do you buy it or make it at home before you
leave?
I make coffee at home
·
Is it just the location of the coffee shop that
prevents you from buy it every day or is it something else like price?
Price, its much cheaper to make at home and I am satisfied by the quality.
·
If there were a more local coffee shop would you
stop every morning?
I won’t matter
·
What would you expect to pay for your coffee?
If I were to stop an get one, I would only pay a couple dollars for it.
Reflection
I suspected that not everybody would be willing to pay for coffee every
morning and this interview proved it. This does not mean the opportunity does not
exist it just shows that it may not be for everyone, there will also be people
that do not drink coffee whom are unaffected by this.
3.
Theme park employee (similar to myself)
·
Do you drink coffee on your way to work in the
morning?
Yes
·
Do you buy it or make it at home before you
leave?
I make it at home
·
Is it just the location of the coffee shop that
prevents you from buy it every day or is it something else like price?
There are no coffee shops between my house and work
·
If there were a more local coffee shop would you
stop every morning?
Yes, depending on the price of course
·
What would you expect to pay for your coffee?
If it were good coffee, like Starbucks, I’d pay a similar price.
Reflection
This
interview further proves that a local coffee shop could be useful in my area.
After recognizing
an opportunity for a local coffee shop in my area and conducting three interviews,
it’s clear the opportunity for a profitable business exists. Opening a coffee shop is far more difficult
than simply wanting to though. In order to
take advantage of this opportunity much more research will need to be done to figure
things out like location, construction costs, and “How to run a coffee shop.” Conducting more interviews from residents all
over the area would likely strengthen the opportunity. I believe it is the best
interest of any entrepreneur to use potential customer feedback in any venture.
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