About this project
Risks and challenges
Barriers and Solutions:
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• Low traffic Mon-Thurs: Different specials held daily will promote traffic and volume for the slow days. Reduction in staff and hours will minimize cost of running the cafe until traffic picks up.
• Not enough stations during peak times: 75% of the cafes that opened with less than 20 stations closed within 18 months. 85% of cafes that opened with more than 25 stations remained opened and began profiting within 6 months of their opening. Traffic will be closely monitored to ensure enough stations are available during peak times.
• Poor advertisement: A large budget is put in place for advertisement, which will be done via YouTube, online sites, and physically at local colleges.
• Overstaffed: Staff will be hired as needed, as the cafe grows.
• Over or under priced: Revenue vs. cost of running will be closely monitored to make adjustments in the pricing.
• Location: Boston is a great location for this due to large amount of colleges and tech companies.
• Outdated equipment: The latest technology equipment will be used to ensure we have the things people can’t have or afford in their homes.
• Inconsistent Revenue: We will provide membership options instead of “block time” sales. Monthly memberships will generate consistent and guaranteed revenue.
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