Feasibility Study. Dr. Sandra S. Liu. Starting a Business. Come up with a good business idea Write a business plan Choose a business name Finance money Register your business and get a license Hire employees etc …. Idea Assessment Procedure. Formal & Detailed. Explore Ideas.
Dr. Sandra S. Liu
Formal & Detailed
Prepare Business Plan
► Requires a market survey
What drives the competitor?
What the competitor is doing and can do?
Future Goalsat all levels of management and in multiple directions
Current Strategieshow the business is currently competing
Competitor’s response profile
is the competitor satisfied with its current position?
what likely moves or strategy shifts will the competitor make?where is the competitor vulnerable?
what will provide the greatest and most effective retaliation by the competitor?
AssumptionsHeld about itself and the industry
Capabilitiesboth strengths and weaknesses
Total Fixed Costs Contribution Margin
- Characteristics and mindset
- Rewards systems (e.g. stock option)
Austin, TX based private owned ice cream shop chain.
Founded by Amy Miller (now Amy Simmons) at 1984
They have 10 stores in Texas now.
Marble Slab Creamery, Inc
Ben & Jerry’s
American Dairy Queen
Ben & Jerry’s
But a experienced market which they don’t need to put too much effort in “educate” the consumers how to shop ice cream.
For a small business like Amy’s, distributing surveys costs them too much effort and time.
Scoopers (employees)/ customers relationships
Amy’s experience in ice cream industry
Memorable experience- for celebration
Fun and tasty
Feel the humanity
But also the experience !
Not only selling the ice cream
Making scooping a show!
Scooping trick competition