Assignment 7A – Testing the Hypothesis, Part 1
Opening a Coffee Shop in Lake Butler
- Opportunity: The majority of adults in the world drink coffee, and the small town of Lake Butler is no different. The town of Lake Butler currently does not have a coffee shop or a place to get a quality cup of coffee. The only current solutions are to make it yourself or get coffee at the gas station.
- Who: teens and adults in Lake Butler who drink coffee
- What: there are currently no coffee shops in Lake Butler or anywhere to get a quick cup of quality coffee
- Why: providing a place to get good quality coffee and to get it quickly
- Testing the Who: Teen and adult coffee drinkers in other small towns may have this need, but most cities have this need covered.
- Testing the What: It is pretty straight forward. Most adults in the country feel that they "need" coffee to get through their day and the many of them would frequent a coffee shop to get a quality cup of coffee if one existed. Currently, there are no coffee shops in Lake Butler and this "need" is not being met.
- Testing the Why: Some just want to get a quick, good cup of coffee. Others may want a place to socialize and sip coffee at a leisurely pace or even a place to socialize. Others want to have access to more complicated coffee type drinks, such as lattes and cappuccino.
- Interviews:
- #1 - Adult female in her 50's, works part-time
- She says she would like to have a place to meet up with friends or colleagues and chat while having a good cup of coffee. She also thinks it would be a nice place for local artists to perform and they could offer non-coffee drinks for people who do not drink coffee. She says this would be beneficial for the community by offering good quality coffee and offering a nice place for people to hang out.
- #2 - Adult male in his 30's, works full-time
- He says with his busy schedule, he is mostly just interested in a place to get a good quality cup of coffee as quickly as possible in the morning before work. He thinks a drive-thru window would be very convenient and something that he would us often. He says he can make the coffee himself, but sometimes just wants to have someone else make it and it usually tastes better too.
- #3 - Adult female in her 30's, working mother of 2
- She would love to have a place to grab coffee quickly in the morning after dropping her kids off at school and before she has to go to work. She enjoys the variety of drinks that a coffee shop provides. She used to live in a city with plenty of coffee shops and frequented them. She misses having a place to get good coffee drinks and would love to see one open in Lake Butler.
- #4 - Adult female in her 20's, stay-at-home mom
- Although she doesn't work, she is super busy and often does not get enough sleep. She would like to have a place to go get coffee when she's out running errands for a pick-me-up. She would mostly use a drive through or quick counter service, but might occasionally be interested in a place to meet up with friends.
- #5 - Teenage female, high school student
- She says she would love to have a place to get a good cup of coffee. She does not like buying coffee at the gas station and the coffee she makes at home just isn't as good as what she can get at a good coffee shop. She would love to have a place like Starbucks or Dunkin Doughnuts that offers a wide variety of coffee drinks and also some desserts. She doesn't feel like she needs coffee, but enjoys drinking it and would be a frequent customer if she had a good local coffee shop.
- Summary: I have found through this process that an opportunity definitely exists for a coffee shop in Lake Butler. I discovered that there is a need for a coffee shop with a drive-thru window, but also a place that offers some seating. Also, a place that offers a wide variety of coffee drinks. Due to interview #5, I have also discovered that there is a need for a place to get desserts, along with coffee. I think a franchise like Dunkin Doughnuts would meet all of these needs and would be very successful in Lake Butler.
Hi Kindra,
ReplyDeleteI completely agree with your opportunity. I think there is definitely a want out there for coffee in that area. With enough market research, you could turn this opportunity into a business. Your interviews seem very extensive and helped you gather a lot of information about your idea. I think your post is very well written and does not seem to have any errors.
As someone who studies regularly at Starbucks and Barnes and Noble I think this idea is great! Growing up it was a meeting place for friends or casual dates but will also be helpful for to go orders if this was the only coffee shop in town, think of the real estate needed for an entire town! Something like with a small town feel versus a Starbucks might be better!
ReplyDeleteHi Kindra! Great idea, this is a real plausible solution that could take effect immediately. Often when we form an opportunity belief we think on the global scale, or something holistic, but looking at the requirements of your neighborhood on the micro-scale often will lead to a more realistic and better return. Opening a coffee shop in Lake Butler will mean that locals won't have to drive far distances to get their coffee. The fact that there are no competitors in the area also increases chances that this venture will be a success.
ReplyDeleteThis definitely seems like an unexploited opportunity! It also hammers home the point that Dr. Pryor has made in the past- that successful entrepreneurs don't have to start with new ideas, they can just execute better on existing ideas! I have noticed that almost everyone in our group (including me) is trying to exploit an existing idea for their business. I'm looking forward to seeing how you continue to flesh this out throughout the class. Best of luck!
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