A New Business Idea in Sydney
The coffee shop, intended to be established following this market plan, after developing a better position in the market will aim towards increased profitability as well as towards being reputed as a renowned coffee shop in Sydney over the next two years. On the commencement of the coffee shop, the consumers will be provided with various high-quality gourmet and espresso coffee services and products which is currently observed to be highly favored by the local customer groups in Australia. The coffee shop will provide better quality coffee with enhanced fragrance or aroma and thus create differentiation within its market sphere. The shop will also be equipped with a friendly atmosphere and staffs so as to give high-quality service to the customers. In the future, i.e. almost within the next two years, the coffee shop with better positions in the market segment and demand will provide a variety of coffee products to its consumers. The products will include brewed hot and cold coffee products, pancakes with chocolate coffee fillings and ice creams with blended coffee aroma. It is worth mentioning in this context that the business of the coffee shop will be based on sole proprietorship. Sole proprietorship signifies that the business will be owned by a single individual who will be entitled to all risks as well as profits resulting from the conduct of the integrated organizational performances (Linn-Benton Community College, 2013). In the initial stage, the coffee shop will employ ten experienced staff, who will be liable to conduct various responsibilities in relation to the business functions and thereby render an effective structure as well as working culture to the company. To be precise, these staff members will be responsible for preparing coffee products and meeting the requirements of the customers to ensure consistent growth in customer satisfaction, which is often regarded as an essential constituent for the long-run sustainability of any new start-up firm.