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Small business and risks - Research Paper Example

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In general, most industries are classified as small businesses if they have less than an annual turnover of $7 million and a staff…
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Small business and risks
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Download file to see previous pages The café prepares hearty and delicious breakfasts and lunch and offers authentic homemade Mexican food. North Boulder Café is known for providing old-fashioned comfort and its menu is traditional and well situated for the discerning customer in the region.
The menu includes a specialized range of coffees, burgers and Mexican dishes that are prepared by qualified chefs with an in-depth level of experience. North Boulder Café is a family owned entity that competes with the major giants in the breakfast and coffee industry including Starbucks and others.
North Boulder Café is classified as a small business. Due to that, it has major capital structure needs and other marketing concerns. This puts the business in a major risk. However, the firm managed to thrive through difficult times and periods. This includes the credit crunch and other circumstances and it seem to be doing fairly well. It controls a very strict niche and this niche remains faithful to the firm. The sales approach includes the use of local marketing channels and media.
However, the threats posed by larger entities in the industry are serious. This puts the firm in a major risk of folding up. In spite of this, it is apparent that with the careful research into the business environment, identification of real risks and formulation of solutions, North Boulder Café is likely to survive and beat all the competition it faces.
The research will involve an empirical study of the elements and aspects of the business environment of North Boulder Café to ascertain risks and identify how these risks can be contained and dealt with. This will involve various tools of data collection and analysis to conduct an empirical research into the organization and identify solutions to the main problems and issues in the firm.
The problem with North Boulder Café is that the management might want to consider getting the franchise of a larger brand like ...Download file to see next pagesRead More
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