February 6, 2014
For this assignment, I selected a business plan for a business called “Jolly’s Java and Bakery”. Jolly’s Java and Bakery is a start-up coffee and bakery establishment located in Southwest Washington. After reviewing the business plan, I will use the SWOT analysis to determine if it has the competitive advantage and solid foundation it needs to attract customers and generate sales revenue that leads to profit.
Jolly’s Java and Bakery is equally owned and managed by its two partners, Mr. Austin Patterson and Mr. David Fields. Together, they bring to the table extensive experience in sales, marketing, management, finance and administration. This experience is a major strength in the management and operations aspect of the company, in addition to the relative experience that Mr. David Fields brings with him from his history in another coffee chain.
They plan on hiring two bakers who can keep the establishment stocked daily with fresh baked goods as well as enough baristas to serve customers. Their target customers are the residents of the community so they can foster a long-term customer base and implant themselves into the community. By providing the most fresh and high quality products, I believe that they will be successful in attracting enough customers and be able to supply the increasing demand in this market. They will also be able to accomplish their goal of attracting tourists if they have the local market because word of mouth from the locals will bring the tourists in.
The partners plan on providing funding from their own savings to cover the start-up expenses and provide a financial cushion for the beginning months of the company’s start-up. The fact that they have planned to have this cushion strengthens their plan even more because there is less of a chance of going bankrupt if they do not meet their projected sales goals in the first year of...