Prospects and Challenges in Setting up of New Business-A Case Analysis on Sip, Study, Succeed: A Blueprint for Your Study Cafe Business
Author : Geethanjali S, Keerthana M and Dr. Chitra A
Abstract :
The café business in India has experienced significant growth due to the rising demand for coffee and the popularity of café culture. This research aims to provide insights from various dimensions and guide aspiring entrepreneurs in creating a solid business plan for opening a successful study café in India. The researchers have conducted market research to understand the existing café landscape, including the type of audience, popular menu items, and location preferences. This knowledge will aid in differentiating the study café from competitors and meeting customer demands. The required data for the research was collected through a survey using Google Forms, and the obtained 80 responses were considered for further analysis. Creating a business plan is essential and should include a detailed overview of the café, a competitive industry analysis, and a SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Moreover, it should outline the required licenses, supplier selection, equipment procurement, and interior design concepts. An emphasis on the operational plan is crucial, encompassing employee recruitment, training, and daily management routines. Financial analysis, including a cash flow statement and profit forecast, is vital to ensure the café's financial viability. Keeping these things in mind, this research outlines the essential steps and considerations to develop a well-structured and impactful business plan.
Keywords :
Café, new business, prospects, challenges, case study
