F$24$ ENTREPRENEURSHIP $-$ GROUP ASSIGNMENT

Validating a Business Idea $-$ A pop$-$up Coffee Shop Venture

Purpose:

A Pop$-$up Coffee Shop is a temporary, mobile caf$$ set up in high$-$traffic areas, designed to provide quick, quality coffee and locally sourced pastries to on$-$the$-$go customers. This concept leverages the flexibility and low overhead costs of a mobile operation while capitalizing on the increasing consumer demand for specialty coffee and artisanal baked goods. The pop$-$up model is particularly appealing for its ability to test different locations, target diverse customer segments, and create a sense of urgency and exclusivity among patrons.

Assignment$$ Content:

Market Assessment:

Identify the target market and customer segments.

Conduct a competitive analysis to evaluate existing alternatives

Analyze market trends, demand, and potential challenges.

Develop a marketing strategy, including branding and promotional tactics.

Financial Assessment:

Estimate startup costs $($e$.$g$.,$ lease, equipment, licenses$).$

Project revenue based on expected customer traffic and pricing strategy.

Develop a break$-$even analysis$$

Develop financial projections $($profit and loss statement, cash flow$).$

The build$-$measure$-$learn loop

Create the minimum Viable Product $($MVP$)$ to be be released to customers$$

Describe the data collection process and feedback from real users who interact with the MVP

Describe the insights gained from the customer feedback to support the next steps.

Lean Canvas Design:

Complete a Lean Canvas to outline the key elements of the business model, including customer segments, value proposition, channels, customer relationships, revenue streams, key activities, key resources, key partners, and cost structure.

Progress Report $($Week $7-$ Midterm, $20$ points weight$)$

Provide an overview of the work completed so far.

Highlight findings from the market assessment and any initial financial projections.

Identify any challenges or obstacles encountered and how they are being addressed.

Present a preliminary version of the build$-$measure$-$learn loop

Present a preliminary version of the Lean Canvas.

Submission and presentation

Submit a $5-10$ page report summarizing the progress.

Include visuals such as charts, graphs, or diagrams where applicable.

A student, randomly assigned, will make the presentation on behalf of the group

Final Report $($Week $15-$ Final, $20$ points weight$)$

The content: of the final report should include the following:

Executive Summary: Summarize the entire project, including key findings and conclusions.

Market Assessment: Provide detailed findings from the market research, including customer analysis, competitive landscape, and marketing strategy.

Financial Assessment: Present a comprehensive financial plan, including startup costs, revenue projections, break$-$even analysis, and profitability outlook.

Build$-$Measure$-$Learn Loop: Provide a comprehensive description of the MVP$,$ data collection and analysis, customer feedback, and recommendations for either pivoting or persevering.

Lean Canvas: Include the finalized Lean Canvas with all elements completed.

Recommendations: Offer a final recommendation on whether to proceed with the business idea based on the assessments.

Submission:

Submit a $10-15$ page report with detailed analysis and supporting evidence.

Include an appendix for any supplementary material $($e$.$g$.,$ survey results, financial spreadsheets$).$

Assignment Requirements:

Group Work: Students must work in groups of $3-6$ members.

Research: Conduct primary and secondary research to gather relevant data for market and financial assessments.

Professionalism: All reports must be professionally written, well$-$organized, and properly formatted.

Presentation: Both the progress report and the final report must include a five$-$minute presentation.

Evaluation Criteria:

Progress report: Document $10$ points; oral presentation $10$ points

Final report: Document $10$ points; oral presentation $10$ points