New Business Idea Assignment 2022

Running head: NEW BUSINESS IDEA
New Business Idea
Name of the Student:
Name of the University:
Author Note:

NEW BUSINESS IDEA1
Table of Contents
Introduction................................................................................................................................2
Business Canvas Model.............................................................................................................2
Market and Customer Problem..................................................................................................4
Challenges and Problems...........................................................................................................4
Solutions to the Problems...........................................................................................................5
Benefits to the customers...........................................................................................................6
Success factors...........................................................................................................................6
Critical Risks and assumptions..................................................................................................7
Evaluating the feasibility of the ideas........................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9
Appendices...............................................................................................................................12
Appendix 1...........................................................................................................................12

NEW BUSINESS IDEA2
Introduction
As per the viewpoint of Trevino and Nelson (2016), establishing a new business is not
as easy as individuals think of it. No individual can turn out to be a successful entrepreneur
with an overnight thought of initiating business and starting up the same. The establishment
of business needs the back-up of proper market studies and understand the current situation of
the industry the business is to be established in (Ryan, 2016). In this context, the given report
is based on investigating and discussing the establishment of a new business connected to the
opening of a new coffee shop in the region of Perth, Australia.
Business Canvas Model
Key Partners
Joint Ventures,
Strategic
Alliances and
firms,
Coopetition.
Key Activities
Develop a
potential
networking
channel.
Effective as well
as efficient sales
techniques.
Development of
attractive
infrastructure
and prior
products and
services.
Value Propositions
Interaction with an
unknown set of
people to target them
as a potential
market.
Receiving
recommendations
from the concerned
industries.
Rewarding loyal
customers.
A customised form
of services for
customers.
Customer
Relationships
Fostering
personalised
means of
communication
.
Implementing
the use of mass
communication
.
Customer
Segments
Business
Customers
such as the
small as
well as
medium
enterprises,
the other
coffee
shops as
well as
online
sectors.
Customers
of the
global

NEW BUSINESS IDEA3
Key Resources
Raw materials
for producing the
food and
beverages
product.
Physical
Resources
Building
Transportation
Storage Facilities
Human Resource
and Machinery.
Effective training
and development
programs.
Channels
Direct Selling
Strategies
Sale through
the help of
intermediaries
The dual
strategy of
Distribution
perspective,
which
includes the
merchants,
the market
and the
clients as
well as end
consumers.
Cost Structure
Fees connected to the retail chain store management of the
coffee shop.
The fees connected to the registration.
Development and Maintenance Charges
Employee fees
Production Cost and Cost of Operations
Revenue Streams
Advertising policies and
implementations.
The offers the shop would
receive from the suppliers in
the connection of purchasing
huge stock.
The fees related to the
membership of the customers.
Figure 1: Business Model Canvas for the new coffee shop
(Source: Osterwalder & Pigneur, 2010)