Business Opportunity Paper
Business Opportunity Project
Magdalena Oquendo
BUS 362
Instructor: Emanuel Errico
May 13, 2013
Business Opportunity Project
Overview
My business idea is a new coffee shop and I am naming it “MAGGIE’S CAFÉ”. It will be located on 6800 Watt Ave in Sacramento, CA. “Much like choosing a form of ownership and selecting particular sources of financing, the location decision has far-reaching and often long-lasting effects on a small company’s future (Zimmerer 515)”. “Entrepreneurs who choose their locations wisely, with their customers’ preferences and their companies’ needs in mind (Zimmerer 515)” have the upper hand and are more likely to succeed. As the sole proprietor I will run the place myself for the first year so I can “pay myself first” by committing to setting aside a portion of my money to a savings before meeting my financial obligations (Andrews, J. 2008).
The location I selected is highly visible, a large customer traffic because it is in a mall with restaurants, grocery stores, nail and hair salon, and adequate parking with an excellent reputation. The people are a diverse crowd. The best thing I found is there are two locations with space available for leasing and the next coffee shop is about three miles away which would give me the competitive advantage. Sacramento is located in Northwest California and it does not snow here, it attracts a high volume of diverse people from many cultures, ages and best of all coffee lovers!
Another benefit is the transportation networks, it is in a main street with four intersections and there are both commercial and residential properties surrounding the mall with bus stops and a high volume of motorist, cars, motorcycles, bicyclist and foot traffic to the area.
I believe the café would attract a high volume of people especially since it will have WiFi internet access for students to stop and do their homework while having something to drink. I plan to sell both hot and cold beverages since the
Magdalena Oquendo
BUS 362
Instructor: Emanuel Errico
May 13, 2013
Business Opportunity Project
Overview
My business idea is a new coffee shop and I am naming it “MAGGIE’S CAFÉ”. It will be located on 6800 Watt Ave in Sacramento, CA. “Much like choosing a form of ownership and selecting particular sources of financing, the location decision has far-reaching and often long-lasting effects on a small company’s future (Zimmerer 515)”. “Entrepreneurs who choose their locations wisely, with their customers’ preferences and their companies’ needs in mind (Zimmerer 515)” have the upper hand and are more likely to succeed. As the sole proprietor I will run the place myself for the first year so I can “pay myself first” by committing to setting aside a portion of my money to a savings before meeting my financial obligations (Andrews, J. 2008).
The location I selected is highly visible, a large customer traffic because it is in a mall with restaurants, grocery stores, nail and hair salon, and adequate parking with an excellent reputation. The people are a diverse crowd. The best thing I found is there are two locations with space available for leasing and the next coffee shop is about three miles away which would give me the competitive advantage. Sacramento is located in Northwest California and it does not snow here, it attracts a high volume of diverse people from many cultures, ages and best of all coffee lovers!
Another benefit is the transportation networks, it is in a main street with four intersections and there are both commercial and residential properties surrounding the mall with bus stops and a high volume of motorist, cars, motorcycles, bicyclist and foot traffic to the area.
I believe the café would attract a high volume of people especially since it will have WiFi internet access for students to stop and do their homework while having something to drink. I plan to sell both hot and cold beverages since the
References: Andrews, Jason, 2008. Paying Yourself First. Daily Bulletin. http://search.proquest.com.proxy -library.ashford.edu Benjamin, Susan F. (2006). Instant Marketing for Almost Free Published by Sourcebooks, Inc.. Fuller, Patricia, 2009. The Assessment of a Tutoring Program to meet CAS Standards Using a SWOT Analysis and Action Plan. Journal of College Reading and Learning. http://search.proquest.com.proxy-library.ashford.edu/docview Small Business Administration. http://sba.gov. Spence, John (2009). Awesomely Simple. Essential Business Strategies for Turning Ideas into Action. Zimmerer. Essentials of Entrepreneurship and Small Business Management, 5th Edition. Pearson Learning Solutions.