Business Opportunity Paper

1842 Words May 30th, 2013 8 Pages
Business Opportunity Project
Magdalena Oquendo
BUS 362
Instructor: Emanuel Errico
May 13, 2013

Business Opportunity Project
Overview
My business idea is a new coffee shop and I am naming it “MAGGIE’S CAFÉ”. It will be located on 6800 Watt Ave in Sacramento, CA. “Much like choosing a form of ownership and selecting particular sources of financing, the location decision has far-reaching and often long-lasting effects on a small company’s future (Zimmerer 515)”. “Entrepreneurs who choose their locations wisely, with their customers’ preferences and their companies’ needs in mind (Zimmerer 515)” have the upper hand and are more likely to succeed. As the sole proprietor I will run the place myself for the first year so I can “pay
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Ten Cardinal Rules for Instant Marketing; 1) always take the Gumby approach to marketing, 2) Calculate the free, almost-free, in-debt, and pay-as-you-go finances of marketing, 3) consider the instant and long-term marketing rewards, 4) remember, bigger isn’t always better, 5) Stack your marketing efforts, 6) Find partners – lots of partners, 7) follow-up, follow-up, follow-up, 8) collect every “no” to get “yes”, 9) keep goals realistic, and 10) try new things (Benjamin, S 2006). Think of marketing as an approach to a hard-hitting Gumby (Benjamin 2006). I want to sell my product and services to the community around me. There are four malls surrounding the establishment I want to rent and there is a lot of foot traffic. I want to reach as many of them as I can. The options that I feel would work for my Café are as follows: 1. Do-it yourself brochures 2. Do-it yourself business cards 3. Do-it yourself invites (invite local companies to stop by and try our product and services) 4. Do-it yourself Ads 5. Do-it yourself Banners 6. Create a Website 7. Window Display 8. Word of Mouth
I never realized the research that came with starting a business. So many competitors and I want to stand out from the rest. I spent a good portion of my time researching and two days to write this paper. I found the experience to be humbling.
I learned that if I don’t calculate

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