Question: Strategically located within easy walking distance from the technical school, nursing colleges, and a variety of office complexes, we intend to cater to students and
Strategically located within easy walking distance from the technical school, nursing colleges, and a variety of office complexes, we intend to cater to students and young office workers by providing plenty of seating space and superior customer service with a trendy vibe.
In the immediate area, our competition consists mainly of fast food vendors such as McDonald's and Dunkin. We plan on capturing the upper end of the local coffee market by serving gourmet, non machinemade coffee products at reasonable prices. Along with our superior atmosphere and great customer service, we intend to target sophisticated coffee consumers.
The location we have selected has square feet of space, room for an outdoor patio, and requires minimal renovations. The space has been vacant for several months and the owner is motivated and has offered a fouryear lease with a fifth year free.
We expect sales revenue to grow from $ in the first year of operations to $ by the end of the third year. To minimize operating expenses, both of the principals will be onsite on a fulltime basis to reduce staffing costs, supervise, and maintain quality control. We expect net profits to grow from $ to $ by year three.
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