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11A – Idea Napkin No. 1

11A – Idea Napkin No. 1

ENT3003

Chris Ward


1.     Who you are? What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically, regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
·      My name is Chris and I am a general business major here at UF.  Prior to moving to Florida, I owned and electrical contracting business.  I was very good at obtaining and retaining customers with the quality of work and attention to detail I provided.  I believe this skill would translate well to any venture but would like to use it with my own coffee shop.  This would be a side business for me though as I don’t see myself leaving my job at Universal Orlando anytime soon.

2.     What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 
·      The idea is simple, a coffee shop similar to Starbucks with more of a personal touch.  It would provide fresh coffee, lattes, and similar type drinks as well as pastries and possibly breakfast sandwiches. 

3.     Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
·      This coffee shop will cater to anybody driving by in need of a coffee.  I would imagine most of the business coming from people driving to work or headed out on the road for a long drive.  I will also cater to the people looking for a place to study or write as there will be ample seating and robust wifi.

4.     Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 
·      There are currently no other coffee shops with in 10 miles of this location and we have a newly built access ramp to the turnpike.  There is plenty of traffic in this area that will not go by Starbucks now due to it being so far away.  A coffee shop on this corner will cater to many people utilizing the new turnpike exit.

5.     What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 
·      There is no competition in the area currently.  This makes getting the business established easier before another coffee shop opens up.


I believe all of these elements fit together perfectly to ensure that I can start a successful business in this area.  Being able to recognize the need before anyone else will also help in finding another location to open if this one is successful enough.  The idea however is not quite ready to be implemented, there is still plenty of work to do, like researching coffee growers and the equipment needed to produce a quality product.

Comments

  1. fedpseFebruary 17, 2019 at 11:52 AM

    Hi Chris,

    I love the idea of one day owning a little coffee shop. The competition is so tough, that I appreciate you looking for underserved locations like by turnpike exits. I think this one facet would make your idea a success.

    ReplyDelete
  2. Caroline PierceFebruary 17, 2019 at 12:32 PM

    Hi Chris,
    Having already owned and managed your own business you are a step ahead of the rest of us! It seems like a very daunting task, and as we break it down into all these little assignments, the amount of work seems never-ending! Your coffee shop idea is one that appeals to many and is going to bring in a lot of customers if done well. The service industry is all about quality service, so I’d definitely make that a priority!

    ReplyDelete
  3. Julia BaldwinFebruary 18, 2019 at 12:51 PM

    Hi Chris,
    I love this idea so much! I would definitely want to go to a coffee shop like this. It's great that you have experience operating a business and I think this will help you be successful. I agree that these different elements should equate to a successful business, and I think it's important to really think about what people are missing at Starbucks and looking for elsewhere.

    ReplyDelete
  4. SabrinaFebruary 18, 2019 at 8:28 PM

    Hi Chris! First of all, it’s awesome that you work at Universal! Your local coffee shop sounds fantastic, providing your customers with a homemade touch. I think the key would be to ensure your products are cheaper than Starbucks, as that’s typically what drives consumers to get coffee from a non-Starbucks shop. The fact that there are no other coffee shops within 10 miles of your location is the cherry on top, meaning this idea is extremely profitable. If you find your necessities, you should definitely go for it!

    ReplyDelete

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