Creating A Small Business: The Name Of The Company Is Coffee

Creating A Small Businessthe Name Of The Company Is Coffee Place

Creating A Small Businessthe Name Of The Company Is Coffee Place The

Creating a Small Business The name of the company is Coffee Place. The business will operate within the food and beverage sector in the hospitality industry. It will entail serving different types of coffee and snacks to clients. Among the snacks that would be served include customized cakes, popcorns, cornflakes, and different nuts. The target market is travelers in towns, residents in neighborhoods, and students in universities; as such, the pricing model adopted is the low pricing model, which would be attractive to many clients, including students and academic staff, hence enjoy the economies of scale.

The expansion strategy will include opening own stores and franchising to reach a wider market. The mission statement offers the best coffee to students, travelers, and neighbors at the lowest price. To adhere to the mission, the business will ensure efficiency in operations cost-cutting measures in the supply chain to reduce costs and ensure low prices. Importantly, the organization will employ qualified personnel to offer quality services by making quality coffee and snacks. Among the competitors are Starbucks, Sey Coffee, DayglowCoffee, Cat & Cloud Coffee, and Mom ‘n’ Em Coffee.

Strengths and Weaknesses of Mom ‘n’ Em Coffee Mom ‘n’ Em Coffee established in 2015 as a partnership business serving coffee to an executive clientele. It is a family-run business. Apart from coffee, it also serves wine, pastries, and toast. The business was first located in Camp Washington, Cincinnati, before expanding to other places. Strengths · The business partners with local organizations to give back to society through the corporate social responsibility strategy.

For example, in Camp Washington, Cincinnati, the business partnered with the Local Fed to offer coffee and breakfast to healthcare workers at Cincinnati Children’s Hospital (Zummo, 2020). · In addition, the business offers more products that include different types of wine, which attracts a wide range of clients, with coffee taking care of the needs of the non-alcoholic drinkers. · Furthermore, the founders of the business have experience in business operations, they are knowledgeable; hence, they can manage its human resource effectively to increase performance and register profits. · Importantly, the business has an established brand within the Cincinnati area; the brand is aggressively marketed as the best place for coffee in the uptown and downtown. · The business also offers takeout and delivery services.

That means wine takers and coffee takers can order products delivered to their offices or homes, depending on the requisition. Weaknesses · The main weakness of the business is limited outlets, which reduce the number of clients who can be served at any given time. The business is still in its development phase; it has not expanded widely to other areas · In addition, the business is run as a family business, which means the sources of funds are limited to family resources, limiting the business's geographical expansion. The ownership structure of the new business The new business will be structured as a Limited Liability Company- LLC. The structure is good for the business because it offers liability protection.

That means the assets and liabilities of the owners would not be affected when the business faces bankruptcy or lawsuits (The Law Office of Aiden H Kramer, LLC. 2015). Importantly, as an LLC, the owners would pay self-employment tax contributions rather than corporate tax, which are relatively higher. Essentially, an LLC combines the protection of a corporation and pass-through and simplicity of a sole proprietorship. That means the losses and profits arising from the business would be passed through to the owners’ tax returns; they would be taxed at a rate of personal tax. In relation to the cost of formation, it is relatively cheaper to form because the legal requirement is the state filing fee that ranges from $40 to $500, depending on the state. The low formation fee is good for the start-up business, which would direct most of the resources to the business's operations to ensure it succeeds. Importantly, it is easy to start a business because there is no need for an attorney; there is no need for the board of directors, holding shareholder meetings and keep meeting minutes (Norman, 2015). As such, less time is required to create and maintain compliance-related documents. In terms of managerial ability, the business will be based on the manager-managed structure; in this case, managing the organization will be delegated to the manager, who may or may not be part of the founders.

Due to the lack of a board of directors, the manager would be independent while the investors would be passive. As such, whereas I am not experienced in the operations in the hospitality industry, employing a manager to run the business is a show or serious towards the success of the business. Moreover, adopting the LLC business structure increases the business's credibility to the target market; hence, it is expected to attract more clients. References Norman, M. S.(2015). Entrepreneurship and effective small business management, 10th edition. New York: Pearson The Law Office of Aiden H Kramer, LLC (2015). All Up In Yo' Business: Sole Proprietor, LLC, or Corporation? Online video. Zummo, M (2020), Locally Fed partners with Cincinnati restaurants t provide food to those most affected by COVID-19. City Beat, 10th July, 2020.

Paper For Above instruction

Creating and establishing a small business in the dynamic food and beverage industry requires strategic planning, clear mission, and understanding of the competitive landscape. The business concept for "Coffee Place" centers around providing high-quality coffee and accompanying snacks to diverse customer segments, including travelers, residents, and students. This analysis explores the crucial elements of starting "Coffee Place," examining its mission, target market, competitive positioning, operational strategies, and legal structure, while drawing insights from analogous successful businesses like Mom ‘n’ Em Coffee.

Business Concept and Strategy

“Coffee Place” aims to carve a niche within the hospitality sector by focusing on affordability, quality, and customer convenience. Its core product offerings will include a variety of coffee suited to different preferences, along with snacks such as customized cakes, popcorn, cornflakes, and nuts. This diversified menu ensures appeal across various demographic groups. The target market comprises travelers passing through towns, local neighborhood residents, and college students—groups that often seek quick, affordable, and satisfying refreshment options. Recognizing these customers’ price sensitivity, the company adopts a low pricing model, which is advantageous for capturing high volume and enabling economies of scale.

Market Expansion and Operations

The expansion approach for "Coffee Place" involves opening self-owned stores and franchising as a means to broaden its geographic reach efficiently. By maintaining tight control over quality standards and operational efficiency, the enterprise can sustain low prices while ensuring customer satisfaction. Operationally, the company will prioritize supply chain management, staff training, and quality assurance to meet customer expectations consistently. Employing qualified personnel is essential for delivering friendly, efficient service and maintaining product quality, which are critical factors in a competitive marketplace.

Competitive Landscape and SWOT Analysis

In the competitive landscape, "Coffee Place" faces notable rivals such as Starbucks, Sey Coffee, and DayglowCoffee. These established brands set high industry standards for quality, customer experience, and branding. To differentiate, "Coffee Place" aims to capitalize on its affordability and local engagement strategies, resonating with price-sensitive customers like students and neighborhood dwellers. Analyzing "Mom ‘n’ Em" Coffee, a family-operated entity in Cincinnati founded in 2015, offers valuable insights. Its strengths include community partnerships, product diversification (including wine and pastries), and a strong local brand. Conversely, its limited outlets and family-based funding constrain expansion, highlighting the importance of strategic growth and capital acquisition for scalability.

Legal Structure and Management

The new enterprise adopts a Limited Liability Company (LLC) structure, which offers significant advantages. LLCs provide liability protection, ensuring owners’ personal assets are shielded from business liabilities or lawsuits. Additionally, LLCs benefit from pass-through taxation, with profits taxed at individual rates, simplifying tax compliance and reducing costs. Forming an LLC involves minimal legal costs—ranging from $40 to $500 depending on jurisdiction—making it suitable for startups with limited initial capital.

Management structure is a crucial consideration. A manager-managed LLC allows operational independence, whereby appointed managers handle day-to-day activities without the need for a formal board—streamlining decision-making. Although the author lacks extensive hospitality industry experience, hiring a competent manager ensures the business runs effectively, focusing on quality control, operational efficiency, and customer service.

Lessons from "Mom ‘n’ Em" and Strategic Recommendations

Drawing lessons from "Mom ‘n’ Em" underscores the importance of community engagement, product diversification, and local branding. To replicate its success, "Coffee Place" should build relationships with local organizations, participate in community events, and foster brand loyalty through targeted marketing. Expanding outlets, possibly through franchising, can increase market penetration, but should be accompanied by robust training and quality standards.

Furthermore, leveraging technology—such as online ordering systems and delivery platforms—can enhance customer convenience and expand reach. Continual market research and customer feedback will help refine offerings and improve competitiveness. Strategic partnerships with suppliers and community groups can also create a strong network supporting sustainable growth.

Conclusion

Launching "Coffee Place" as a low-cost, quality-driven coffee and snack business requires meticulous planning, effective management, and an understanding of the competitive environment. By adopting an LLC structure, focusing on operational efficiency, and leveraging lessons from similar businesses like "Mom ‘n’ Em," the enterprise can establish a strong foothold in the local market and expand strategically. As the business grows, maintaining high standards of quality and community engagement will be essential for long-term success and scalability.

References

• Norman, M. S. (2015). Entrepreneurship and effective small business management (10th ed.). Pearson.
• The Law Office of Aiden H Kramer, LLC. (2015). All Up In Yo' Business: Sole Proprietor, LLC, or Corporation? [Video].
• Zummo, M. (2020). Locally Fed partners with Cincinnati restaurants to provide food to those most affected by COVID-19. City Beat.
• Hisrich, R. D., Peters, M. P., & Shepherd, D. A. (2017). Entrepreneurship (10th ed.). McGraw-Hill Education.
• Scarborough, N. M., & Cornwall, J. R. (2015). Essentials of Entrepreneurship and Small Business Management (8th ed.). Pearson.
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