Build or Buy
Assignment#1: To Build or to Buy
by
Professor;
Business 402-Small Business Management
01/29/2013
Assignment # 1: To Build or Buy
Craft a brief strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail. The Business strategy which I would use would be to purchase an existing Bagel and
Tea shop located in the heart of Rockville city. The business is called Island style Bagel and
Tea shop. Island Style is surrounded by lots different types of business, schools and it pretty much a great location. The shop use to be an ice cream shop and the owner just could not run the business the way it should. The Business is making a profit of $2000.00 dollars a month on average after paying all expense. However, I feel the business can generate $5000.00 a month on average if he markets the business. The current owner never advertises for the business in the area. However, because of the location most of the advertising came from word to mouth, which is a good thing. Island Style serves a variety of hot and cold tea and coffee, they use only 100% organic fair trade coffee and espresso beans (Island Style Bagel and Tea, 2010). They also freshly roast all coffee beans locally. So you get the true magical flavor of every bean. It is truly amazing. Also
Island Bagel feature a huge selection of loose leaf teas, they also has a variety of savory tea and
Bagel, assorted sweets, and freshly baked scones which served with different types donuts and a little of Island Devonshire cream (Island Bagel and tea, 2010).
Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected. Explain you reasoning. My Business concept is to keep the existing concept but add more variety and products to the business and
by
Professor;
Business 402-Small Business Management
01/29/2013
Assignment # 1: To Build or Buy
Craft a brief strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail. The Business strategy which I would use would be to purchase an existing Bagel and
Tea shop located in the heart of Rockville city. The business is called Island style Bagel and
Tea shop. Island Style is surrounded by lots different types of business, schools and it pretty much a great location. The shop use to be an ice cream shop and the owner just could not run the business the way it should. The Business is making a profit of $2000.00 dollars a month on average after paying all expense. However, I feel the business can generate $5000.00 a month on average if he markets the business. The current owner never advertises for the business in the area. However, because of the location most of the advertising came from word to mouth, which is a good thing. Island Style serves a variety of hot and cold tea and coffee, they use only 100% organic fair trade coffee and espresso beans (Island Style Bagel and Tea, 2010). They also freshly roast all coffee beans locally. So you get the true magical flavor of every bean. It is truly amazing. Also
Island Bagel feature a huge selection of loose leaf teas, they also has a variety of savory tea and
Bagel, assorted sweets, and freshly baked scones which served with different types donuts and a little of Island Devonshire cream (Island Bagel and tea, 2010).
Determine if it would make more sense to open the new business you describe or to purchase the existing business you selected. Explain you reasoning. My Business concept is to keep the existing concept but add more variety and products to the business and