business plan

Coffee shop in Oxford

The coffee shop business in Oxford is a promising business idea. The reason why I chose the coffee shop is because of the huge population in the city and the need to have a coffee shop in many locations in the city. The business will be located in a busy street in downtown oxford. The coffee shop will have various coffee brands and the brands will be tailored to meet the specifications of the consumer.

The quality of the coffee will be the main strategy through which the company will grow. The shop will be fitted with cool lighting and state of the art furniture that will attract consumers to the coffee shop and maintain a standard attractive coffee shop. The target market for the coffee shop will be the working class in the society. This group of people consumes a lot of coffee during certain hours. The business will operate as a sole proprietorship and it will seek to expand to other products.

Part II

i. A feasibility test involves developing a model and then testing if the model fits in the industry. It is an important aspect because it helps the entrepreneur to save resources when making an investment.

ii. When an entrepreneur takes their time to write a business plan, he saves money in the short run. In the long run, a business plan tells the entrepreneur when he will attain the break-even point.

iii. An executive summary is an important aspect because it gives an overview of the whole business plan. It also explains the fundamentals of the proposed business.