To Build or Buy A small business like a cafeteria
Uploaded by CaseyP on Nov 21, 2017
To Build or Buy
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To Build or Buy
A small business like a cafeteria is the most suitable option one can engage on because no matter how human beings get satisfied with other basic necessities, food remains to be the major requirement one cannot do without. For this reason, this business will attract more customers and eventually it will result in more returns on sales. A cafeteria needs a little amount of capital and it is easy to set it up and operate.
Strategy for a Business Concept
The best business concept strategy that will enable a cafeteria to compete directly in the market is a business plan which will confirm if the business idea is feasible or not. Therefore, a cafeteria business may consider the following business plan as a strategy after research and development before predicting the long-lasting outcomes.
Defining the business and vision. To start up a cafeteria, the first step is to define the business and its vision for the sake of making a driving force of the business and clarify the aim. In order to clarify the vision, the business owner should be aware of the customer, the kind of business he or she is in, products and services to provide to customers, plans that are in place for the purpose of growth and he or she should consider the primary advantage in the existing market.
Goal setting. To set up a cafeteria, one should list down goals while providing a brief description of their actions. In this step, the business should undergo a period of research and development before predicting long-lasting outcomes. The owner should specifically explain the possible achievements of the business by starting with personal goals then business goals. For instance, what does he or she want to achieve as a person, the size of the business he or she would wish the business to be, whether there is a need to include the family in the business, if he or she desires to recruit a staff to run the business and describe the quality of goods and services to provide to customers for the sake of satisfaction. Further, the goal of the business should admire types of foods and drinks to provide to customers while considering customers’ needs and preferences of foods to provide so that customers’ needs are met (Kumar and Reinartz, 2012).
Understanding the customer. The cafeteria should consider meeting customers’ needs while...