With This Assignment, You Have The Opportunity To Take Your ✓ Solved

With this assignment, you have the opportunity to take your creative ideas to the next step and begin to develop a strategy that will form the foundation for a successful business.

With this assignment, you have the opportunity to take your creative ideas to the next step and begin to develop a strategy that will form the foundation for a successful business. Write a three to four (3-4) page paper in which you: Develop an idea for a prospective small business, and select a name for the company. Identify its key competitors and summarize the strengths and weaknesses of one of the competitors. Prepare a mission statement that encompasses the purpose of the business and considers its target market. Identify the ownership form for this business, taking into consideration tax implications, liability exposure, managerial ability, and cost of formation. Include at least two (2) references outside the textbook.

Paper For Above Instructions

Idea and company concept

Entrepreneurship benefits from a clear, differentiated strategy rather than an untested enthusiasm for a concept. Scarborough and Cornwall emphasize that many startups fail because founders neglect to define a workable strategy that sets them apart from the competition (Scarborough & Cornwall, 2015). Building on that insight, I propose a small, service-oriented business called GreenLeaf Mobile Coffee & Snacks. This venture would operate as a mobile, eco-conscious coffee and light-snack cart that travels to office parks, campus districts, farmers markets, and weekend events using a solar-assisted power system and compostable packaging. The value proposition centers on high-quality, locally roasted coffee and plant-forward snacks delivered with a sustainability-forward approach—reusable or compostable cups, minimal waste, and partnerships with regional roasters and bakers. The concept aligns with current consumer preferences for convenience, sustainability, and locally sourced products, while offering a flexible footprint that reduces fixed overhead compared with a traditional coffee shop (Drucker, 1985; Ries, 2011).

The company name, GreenLeaf Mobile Coffee & Snacks, communicates both environmental responsibility and the mobile, on-the-go nature of the business. The focus on plant-forward offerings can attract health-conscious professionals and students who seek quick, affordable, and responsible options during their day. A key strength of the concept is the ability to test demand in multiple micro-markets without committing to a fixed storefront, enabling rapid iteration of the product mix and service model (Osterwalder & Pigneur, 2010). A lean-startup mindset supports ongoing learning and adaptation, helping the business refine its value proposition over time (Ries, 2011).

Competitors and competitive analysis

Key competitors include local brick-and-mortar cafés and other mobile coffee operators that compete for the same customer segments—busy professionals, students, and event attendees seeking convenient caffeine and light snacks. One representative competitor in the local scene could be Sunrise Café (a fictional name used for illustration). Sunrise Café benefits from a loyal customer base, established location access, and consistent product quality, which are typical competitive strengths in traditional cafés (Porter, 1980). Its weaknesses, in contrast, may include limited, inconsistent hours, higher prices, and less flexibility to adapt rapidly to shifting consumer preferences or event-based demand (Scarborough & Cornwall, 2015).

GreenLeaf’s competitive advantage would derive from several factors: (1) mobility and flexibility to reach customers where they work, study, or gather; (2) a sustainability-forward value proposition that reduces single-use waste and supports local producers; (3) a lean, test-and-learn approach to product offerings that can be rapidly adjusted to demand; and (4) a scalable model that can be replicated across multiple routes or markets with low fixed overhead compared to a fixed storefront. In strategic terms, this aligns with Porter’s emphasis on understanding industry structure and differentiating the firm to gain competitive advantage (Porter, 1980). The plan also leverages the “blue ocean” idea of creating uncontested market space by combining mobility with sustainable values in a familiar coffee-mugged market (Kim & Mauborgne, 2005). For execution, a Business Model Canvas can help map the key elements of the venture, including value proposition, customer segments, channels, and revenue streams (Osterwalder & Pigneur, 2010).

For credibility, GreenLeaf will apply a disciplined market-test approach: pilot at three distinct venues, track sales and customer feedback, and adapt the menu and service model accordingly. This aligns with lean-startup thinking that emphasizes validated learning and rapid iteration to improve product-market fit (Ries, 2011).

Mission statement and target market

Mission statement: GreenLeaf Mobile Coffee & Snacks delivers high-quality, locally sourced coffee and plant-forward snacks with a strong commitment to sustainability, providing fast, friendly service to busy professionals, students, and event attendees in urban and campus communities.

Target market segmentation includes: (a) office workers and campus residents seeking convenient, ethical caffeine and light meals; (b) environmentally conscious consumers who value sustainable packaging and community partnerships; (c) event organizers who need portable beverage stations with reliable service. The mission statement reflects a focus on purpose (quality, sustainability, community) and market orientation (targeted groups and locations) that support a differentiated positioning in a competitive landscape (Kotler & Keller, 2015).

Ownership form, tax implications, liability, and formation costs

Ownership form: Limited Liability Company (LLC). An LLC provides liability protection for owners while allowing pass-through taxation, avoiding double taxation on profits that a corporation would incur. The LLC structure typically offers flexibility in management (member- or manager-managed) and can be easier to maintain than a corporation, depending on state requirements. For a mobile food business with potential personal liability exposure (slips, falls, food safety concerns), the LLC reduces personal risk while enabling straightforward tax reporting. This aligns with best-practice guidance on business structure and liability management (SBA, n.d.; Scarborough & Cornwall, 2015).

Tax implications: As a pass-through entity, profits and losses pass through to members’ individual tax returns, avoiding corporate-level tax. This can be advantageous for early-stage small businesses with modest profits; however, self-employment taxes should be considered. If growth suggests reinvestment and external investment, the LLC can elect to be taxed as a corporation later, providing flexibility (SBA, n.d.; Barringer & Ireland, 2019).

Liability exposure: The LLC structure provides limited liability for owners, protecting personal assets from business debts and lawsuits, a key consideration for a customer-facing mobile operation where accidents or food-safety concerns could arise (SBA, n.d.).

Managerial ability and cost of formation: A member-managed LLC offers hands-on control for founders, with potential to add members as the business expands. Formation costs vary by state but typically include filing fees, publication requirements, and potential annual report fees. While LLC formation is generally more costly than sole proprietorship, it balances liability protection and tax advantages more effectively for a new small business with growth ambitions (Kotler & Keller, 2015; SBA, n.d.).

Conclusion and next steps

GreenLeaf Mobile Coffee & Snacks presents a differentiated, scalable concept that aligns with contemporary consumer preferences for sustainability and convenience. By combining mobility with a compelling value proposition and a prudent ownership structure, the venture can test its market, refine its offerings, and grow through additional routes or partnerships. The plan integrates foundational entrepreneurship principles, including competitive analysis, mission-driven positioning, and thoughtful legal structure, to reduce risk and increase the likelihood of long-term success (Drucker, 1985; Ries, 2011; Osterwalder & Pigneur, 2010).

References

  • Scarborough, N. M., & Cornwall, J. R. (2015). Essentials of Entrepreneurship and Small Business Management. Pearson.
  • Drucker, P. F. (1985). Innovation and Entrepreneurship. Harper & Row.
  • Porter, M. E. (1980). Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press.
  • Ries, E. (2011). The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. Crown Business.
  • Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. John Wiley & Sons.
  • Barringer, B. R., & Ireland, R. D. (2019). Entrepreneurship: Successfully Launching New Ventures. Pearson.
  • Kim, W. C., & Mauborgne, R. (2005). Blue Ocean Strategy: How to Create Uncontested Market Space. Harvard Business Review Press.
  • SBA. (n.d.). Choose a business structure. U.S. Small Business Administration. https://www.sba.gov/
  • Kotler, P., & Keller, K. L. (2015). Marketing Management. Pearson.
  • Blank, S., & Dorf, B. (2012). The Startup Owner's Manual: The Step-by-Step Guide for Building a Great Company. K&S Ranch.

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