Question

what weaknesses new coffee business observes? Be specific to your answer like customer wait times and provide more examples of weaknesses that may accur?

Answer 1

ANSWER:

Whenever a new business is started it is difficult to survive as there is lot of competition in the market. Being new in the market the businessmen are not much aware of customers needs or what they need to do in order to increase there market share. So, In starting every new business experience many type of weaknesses in there business but they need to overcome these weaknesses to survive and grow.

Weaknesses that can be observed in a new coffee business are-

1.) Competition - The level of competition in the market is the main factor which affects a new business. When competition is very a new coffee business will not be able to grab a market share. So, weakness which can be observed in new coffee business is having less market share because of high competition.

2.) Customer dealing - another weakness which can be observed in a new coffee business can be dealing with constomers. Being new in the market new business will find it difficult to how to handle customer or how to satisfy them. So, if new business is not able to handle customers than it will be difficult to survive for them.

3.) Quality of the product - Providing a less quality product can be another weakness for a new coffee business. When customer pays for a product they expect a better quality product and if they don't get a better quality product they wll shift to some other supplier. So, in order to retain the customers a new coffee business must provide a better quality product.

4.) Location - Having a new coffee business not at a good location could be another weakness for it. Selecting a good location is an important factor. A new coffee business should be at a place where high number of customers can be located. For example: have a coffee business near some office or near a college so that business can attract more customers.

5.) High rates - Charging high rates than the competitior for the similar product can be another weakness for a new business. A customer will not be willing to pay more for a product if the customer is getting the same product at some cheaper price. So, to attract and retain the customers a new coffee business must keep there rate low or equal to the competitor.

Hence, every new business experiences some weakness but it may vary from business to business.