A Whole New...Market (25A)

As we are approaching the end of this course, and the run of my business idea, The Mount Coffeehouse, I am beginning to ask “What’s Next?” This includes considering how I can grow in my existing markets as well as in new markets.

Existing Markets

After developing my venture concept—which I explored last post—here is what I think is comes ‘next’ in terms of products and services for my venture. To build upon my own perceptions I interviewed three customers. Hilda says that I need to immediately start working on finding a staff team would be part of my services; I can’t serve everyone coffee on my own. However, James told me that I would first need a building that suited my two-story needs for the elevated volume control system. Lastly, Evan suggested I consider the placement of The Mount. He brought up the fact that there are many coffee shops that already exist in Gainesville… maybe you should consider going to another college town where there is less competition.

Reflecting on these suggestions, I think they all make good points. To act on what Hilda said about hiring barista’s and staff, I am going to start compiling a list of credentials I want my employee’s to have when coming to work for The Mount. As for James’ and Evan’s comments, I think these ideas go hand in hand. Determining my location will absolutely determine where and what kind of spaces I can find. I am affirmatively going to stay in Gainesville because that is where The Mount Retreat ministry—the nonprofit I am partnering with—is located. I am just believing that when the time's right, God will provide an adequate, maybe not perfect but workable, two story building.

New Markets

On the other hand, I must also branch out into new markets to make my venture as appealing and accessible to as many customers as possible. A radically different market that my venture could tackle would be adults, or even the elderly. The Mount would ideally be located within walking distance from UF and caters to studious college students. To learn more I talked with my grandparents on how they see The Mount expanding to fit their needs. After laying out my venture concept, my Grana said that The Mount could still create value for people her age seeking a quality coffee experience because the atmosphere of The Mount will be more homey and cabin-like rather than modern and blocky. Then, my Gramps brought up that if adults prefer quieter spaces—like he does— he thinks they would enjoy the second floor which is quieter. We also talked about how older people typically drink black coffee. Knowing this, I think they would be pleased because we’ll be crafting artisan coffee which is delightful to drink black.

Reflecting on this new market, I was surprised to hear that my Gramps and I share similar frustrations: whenever we go to coffee shops to work, sometimes the environment is very loud and distracting! Although my location would still not be as conducive to an older market I could surely work to make the experience once anyone gets here enjoyable for everyone, no matter their age.