7A – Testing the Hypothesis, Part 1
ENT3003
Chris Ward
Local Coffee Shop
Opportunity: There is a need for a small locally owned coffee shop in the area of my home.
· The Who: People on their way to work
· The What: People in need of a coffee for their ride into work
· The Why: Many people drink coffee and want a better option than homemade.
Testing the Who: People in my local area who leave for work wanting to pick up coffee for the drive in. There may also be a need for people driving through the area at any time of day.
Testing the What: Coffee may not be the only need that can be satisfied by a local coffee shop. There may also be a need for a small breakfast.
Testing the Why: People driving to work in the morning need another option than homemade coffee. People may also want a light breakfast. Between the hours of 6am and 9am there is a lot of traffic in my area that may have this need.
· Interview 1
Neighbor: She agrees that the needs exists. She stated that she goes to a local coffee shop most mornings in another part of the town. This option is not available to me and many others. If there was a more local option, she would take advantage of it.
· Interview 2
Neighbor: She is a stay at home mom but also stated she would take advantage of a local shop. Her use would come more mid-day than early morning. Her interview proved there could also be a need throughout the day.
· Interview 3
Friend: He works for a local contractor and works in the area and outside the area frequently. He stated that stopping for coffee is a matter of convenience and would use a local shop often but felt it wasn’t an urgent need. He didn’t mind homemade coffee or travelling to get some.
· Interview 4
Wife: She works locally but would not buy coffee on the way to work. She likes making it at home. Maybe I should have her make my coffee…. Not everybody is going to have this need but the doesn’t mean the opportunity doesn’t exist.
· Interview 5:
Coworker: He also travels to Orlando using the same route I do. He agreed that need is certainly there and would use it often if the quality was equal to Starbucks.
Given your interviews, what do you know about the opportunity that you didn't know before?
The interviews generally agreed that the opportunity for a local coffee shop is supported by the local community. If I conducted more interviews, I feel like the summary would be the same. It is very clear to me that there is a strong need here.
Hi Chris,
ReplyDeleteI too wrote about the opportunity of a coffee shop, however, mind was opening up a second location. It is interesting there is not a local coffee shop in your hometown since the are a pretty popular business. Because of this, I believe your opportunity does exist and has great economic potential. It sounds like the coffee shop isn't necessarily demanded, however, did it exist, it would be utilized. This, in my opinion, showcases the wide variety of potential customers and further strengthens your opportunity.
Great write-up, Chris.
ReplyDeleteI think that there a number of factors to consider when opening any type of restaurant. A coffee shop is thankfully going to be visited more times per person than, say, a pizza shop, as most people drink coffee at least daily but don't really eat out as much. Thus, you're going to need to build a loyal customer base as your main revenue source. You must also consider the extra income that comes from passerby, that is, the location needs to be in a part of town that is visited by travelers, whether that be pedestrian in a tourist location or drivers in a more interstate location. These people will keep a healthy flow, should the area and your main base stagnate. Should these two coincide with each other, I think that it would be a great opportunity. I would love to own a coffee shop with a more customizable approach. One thing I would like to see is a greater collection of coffee beans and the ability to choose how much they are roasted but also more sugar options. I personally love brown sugar in my coffee, and if I'm feeling particularly flush with cash, I really like maple syrup. Having options like this would also cause you stand out amongst the competition, another key part of a business plan.