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Chapter 5 Risk Analysis

Starting a coffee shop business comes with risks that owners should plan for. The main risks are competition from other coffee shops, changing customer tastes, and poor supplier relationships. To mitigate these risks, owners should focus on customer satisfaction, adapt to trends, and build strong relationships with suppliers by paying on time and communicating about pricing. Proper risk analysis and planning can help coffee shop owners address challenges and ensure the long-term success of their business.

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2K views2 pages

Chapter 5 Risk Analysis

Starting a coffee shop business comes with risks that owners should plan for. The main risks are competition from other coffee shops, changing customer tastes, and poor supplier relationships. To mitigate these risks, owners should focus on customer satisfaction, adapt to trends, and build strong relationships with suppliers by paying on time and communicating about pricing. Proper risk analysis and planning can help coffee shop owners address challenges and ensure the long-term success of their business.

Uploaded by

ejay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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103

Risk Analysis

Starting a coffee shop business can bring a satisfying feeling, especially when

it has that aromatic atmosphere, wherein it can relieve stress from day to day basis,

talking about different things while enjoying their favorite cup of coffee, However, even

though it’s really exciting starting a coffee shop business, it always come with risk.

Knowing the risk and identifying what type of risk is that ahead of time can help the

management to prevent it. It can also help in formulating better strategies that can address

future challenges.

Risks Solution
Competition For the coffee shop to stay in competition,

it must attain high level of customer

satisfaction for them to patronize the

business. The management must make

sure to acquire all the possible challenges

and must be able to find solutions before

it happens. Also, the management must

know all the trends in coffee shop

business. The staff must add different

variety of coffee that can add up to the

level of satisfaction of every customer

through creating new varieties of coffee

that can surely add quality and growth to

the business. All in all, the coffee shop


104

will survive through it all with its loyal

customers intact.
Customers’ changing taste The management should adapt to every

trend in the coffee industry; adapt every

customer’s desires and cravings so that

the business would be able to last long.


Relationship with suppliers Building a great relationship with your

suppliers is very essential in a successful

business. Pay them on time, talk to them if

there is any problem. If you stop paying

and they stop delivering then you won’t

have anything to sell. Ask the suppliers

regarding the price of the ingredients so

that you as business owners, would be

able to take actions regarding the change

in prices of the ingredients. Adjustments

on the prices of the products will follow.

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