You have selected a small coffee shop in your area. Develop a strategy for expanding this business in a regional market.
• Why do you believe the business could succeed in this new geographic market?
• What are the benefits of expanding into this geographic market?
• What are the risks of expanding into this market?
• What obstacles will the business have to overcome? Take into consideration seasonality and supply chain management (i.e. vendors, raw materials, and in-bound logistics).
• What strategies will help lead the business to success over the initial year of the expansion? Justify your response.
• What strategies will help lead the business to success over the next three to five years? Justify your response.
• How will the business maintain its branding while expanding into the new geographic market?