Jenny and her friends are planning to start a coffee shop in their neighborhood. They have identified
Question:
Jenny and her friends are planning to start a coffee shop in their neighborhood. They have identified a suitable location and are excited about the potential of the business. However, they are unsure about the steps involved in starting a coffee shop and the challenges they may face.
Jenny and her friends have decided to start a coffee shop and are considering the following aspects of their business:
Location: They have found a location in a busy commercial area with high foot traffic. The location has ample parking space and is easily accessible by public transportation.
Menu: They plan to offer a variety of coffee drinks, pastries, and sandwiches. They want to source their ingredients locally and focus on using organic and sustainable products.
Budget: They have saved some money and are considering applying for a small business loan to cover the startup costs.
Staffing: They plan to hire a team of baristas, a chef, and a manager to run the coffee shop.
Questions for Discussion:
What are the legal requirements for starting a coffee shop, such as permits and licenses? How can Jenny and her friends ensure they are in compliance with all regulations?
What are the key financial considerations when starting a coffee shop, such as startup costs, operating expenses, and potential revenue streams? How can they create a budget and ensure they have enough funds to cover their expenses?
What is the best business ownership form for them? What will be some of the key advantages and disadvantages? What precautions they should take before choosing the form of ownership?
Introduction To Materials Management
ISBN: 978-9386873248
8th edition
Authors: Arnold J. R. Tony, Gatewood Ann K., M. Clive Lloyd N. Chapman Stephen