OPPORTUNITIES FOR BROADWAY ROASTERY 4
Opportunitiesfor Broadway Roastery.
Theopportunities for Broadway Roastery.
Despiteserving the best coffee and snacks, a coffee shop may fail in itsoperations due to the failure of the identification of theopportunities that promote its growth. This paper presents ananalysis of the opportunities for Broadway Roastery, the majorcompetitors, and the competitive factors.
Theprimary opportunity for coffee and snacks shops is the provision ofbroad types of beverages and snacks. There also lies the opportunityof the introduction of new technology and expansion of the coffee andsnacks shops through opening up of new branches. The coffee andsnacks shops can come up with better new brands to keep the clientscoming back. The expansion of the beverages will retain the customersand attract more clients thus increasing the sales and profits forthe shop. Coffee and snacks shops also have the opportunity ofgreater innovation to come up with unique products meeting the needsof their clients. Because of the uniqueness of the new products, itis easy for the coffee shop to defend it from competitors thus, thecompetitors will have difficulty in competing with them. This willtranslate to more sales and hence more profits for the coffee, andsnacks shop (Mick Et al, 2014).
Theintroduction of new technology is a viable opportunity for any shopin the coffee and snacks industry. The technology will enable thecoffee shop to meet the needs of their customers in a better waybecause it results in new and improved services and products to theclients (Mick et al, 2014). The new technology will also keep theoperations of a coffee shop at par with the other competitive andrival coffee shops in the region incorporating new technologicalmethods in operations. For instance, with an improvement in thetechnology in use, a coffee shop, for instance, Broadway Roastery canhave similar or better products and services as those offered byStarbucks thus attracting more customers who frequent the coffeeshop. It is clear that the improvement in technology will presentpositive impacts to the coffee and snacks shop thus adding on itsprofits.
Theother opportunity for coffee and snacks shops is an expansion of itsoperations. For instance, a shop can invest in opening up newbranches to serve their customers more efficiently. The number of theclients visiting coffee and snacks shop can be overwhelming for theavailable branches. The shop can take up this as an opportunity toopen up a new branch with wider parking space, makes use of the newtechnology in the food and beverage industry, and more improveddrinks and snacks (Mick et al, 2014). Such a venture would promotesales and thus raise the profits by a significant margin.
Thecompetitors for Broadway Roastery.
Thereare various coffee shops in Canada which operate competitively witheach other. For instance, the primary competitors for BroadwayRoastery are Tim Hortons and Starbucks. The key competitive featuresamong these coffee shops are their location, the wide range ofbeverages, the tasty snacks, the hours of operation, the technologyin use, and the expertise of the staff. (Mick Et al, 2014). Again,some shops make use of the latest technology thus meeting the needsof their clients appropriately. The stakeholders concerns are whetherthe coffee shop can make use of the available equipment optimally, onhow to make investments in innovation and equipment upgradeprofitably, and how to adopt future developments for the success ofthe shop. There is also the concern of pricing against the quality ofthe coffee and snacks. This concern arises from the fact thatsuccessful coffee shops such as Tim Hortons offering quality coffeeand snacks at a competitive price. The concern for developing coffeeshops is how to strike the balance between competitive pricing whileat the same time offering quality services and products and remainingcompetitive in the industry.
Reference
Mick,B. Et al. (2014). Food and Beverage growth plan. Journalof food and nutrition. 1,2, 1-128.