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Aspiring Lawyers - Applications & General Advice
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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<blockquote data-quote="Harty" data-source="post: 134209" data-attributes="member: 27143"><p>P: Importing location of beans. Any interruptions going on (embargos, wars, natural disasters, strikes). Ditto for the rest of materials (e.g. cups, cakes, etc.) </p><p>E: Tax breaks I can take advantage of. Where am I getting the initial capital from and what are the strings (high current interest rates)? Do I have a location available or will I be renting (property prices for anything in London are high)? Where will I open the place - somewhere centrally located, somewhere with less competition)? Do I have any equipment? Do I have a good source for it? Do I have storage space? Can I use my home? Will I employ people? Will I be the only shareholder in the business, or should I bring another to mitigate the initial risk/investment? How much will my perishables cost? What other goods to I offer (cakes, tea, sandwiches, toast, etc)?</p><p>S: Whom do I market to and how to pander to them? What is the local competition doing?</p><p>T: How do I advertise (social media)? Do I sign up on any apps/create my own (e.g. delivery services, or pre-order product, so it is ready by the time client comes to pick it up)? How to ensure secure payments? Do I use newsletters/loyalty schemes? In this case, how do I store/process client data?</p><p>L: Employment laws. Health and safety laws. Location contract. Make sure the shop name is not taken - IP issues. If I am planning to use an app, work out the term with app's owners.</p><p>E: Responsible/fair trade sourcing. Other ESG policies. Recyclable materials (cups, packaging). Use local suppliers to minimise transport emissions? How do these impact my costs? </p><p></p><p>S: Not beholden to a big brand that will take a cut out of my revenue just to use the name. Can be flexible with location and size of shop. Can brand as I want and target the customer group I want. Coffee is popular - many people drink it.</p><p>W: Lots of competition, both chains and indies, doubt I can offer as competitive prices as them and make up for lower profit margins through sales volume. As with any new business - building it up is hard and high likelihood of failure. Need to build the brand. Finding a location with potential.</p><p>O: chance to build my own ID and USP.</p><p>T: Are Covid restrictions still a thing? Threats to my supply chains (some mentioned in "P")., Inflation - ups my bills. Cost of living crisis/recession - reduces spending money of customers - lowers my revenue. More established competition.</p></blockquote><p></p>
[QUOTE="Harty, post: 134209, member: 27143"] P: Importing location of beans. Any interruptions going on (embargos, wars, natural disasters, strikes). Ditto for the rest of materials (e.g. cups, cakes, etc.) E: Tax breaks I can take advantage of. Where am I getting the initial capital from and what are the strings (high current interest rates)? Do I have a location available or will I be renting (property prices for anything in London are high)? Where will I open the place - somewhere centrally located, somewhere with less competition)? Do I have any equipment? Do I have a good source for it? Do I have storage space? Can I use my home? Will I employ people? Will I be the only shareholder in the business, or should I bring another to mitigate the initial risk/investment? How much will my perishables cost? What other goods to I offer (cakes, tea, sandwiches, toast, etc)? S: Whom do I market to and how to pander to them? What is the local competition doing? T: How do I advertise (social media)? Do I sign up on any apps/create my own (e.g. delivery services, or pre-order product, so it is ready by the time client comes to pick it up)? How to ensure secure payments? Do I use newsletters/loyalty schemes? In this case, how do I store/process client data? L: Employment laws. Health and safety laws. Location contract. Make sure the shop name is not taken - IP issues. If I am planning to use an app, work out the term with app's owners. E: Responsible/fair trade sourcing. Other ESG policies. Recyclable materials (cups, packaging). Use local suppliers to minimise transport emissions? How do these impact my costs? S: Not beholden to a big brand that will take a cut out of my revenue just to use the name. Can be flexible with location and size of shop. Can brand as I want and target the customer group I want. Coffee is popular - many people drink it. W: Lots of competition, both chains and indies, doubt I can offer as competitive prices as them and make up for lower profit margins through sales volume. As with any new business - building it up is hard and high likelihood of failure. Need to build the brand. Finding a location with potential. O: chance to build my own ID and USP. T: Are Covid restrictions still a thing? Threats to my supply chains (some mentioned in "P")., Inflation - ups my bills. Cost of living crisis/recession - reduces spending money of customers - lowers my revenue. More established competition. [/QUOTE]
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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