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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="jenniferyook" data-source="post: 134546" data-attributes="member: 10439"><p style="text-align: center">The Corporate Law Academy Forum PESTLE & SWOT</p><p></p><p></p><p></p><p><strong><em>You are an entrepreneur seeking to start your own independent coffee shop in London. Using PESTLE and SWOT, what are some factors that you would consider when building your business plan?</em></strong></p><p></p><p></p><p></p><p>PESTLE:</p><p></p><p>Political</p><p></p><ul> <li data-xf-list-type="ul">What are the taxation requirements for independent businesses in London?</li> <li data-xf-list-type="ul">What are the labour laws surrounding part-time and full-time employees for potential staff at the coffee shop?</li> <li data-xf-list-type="ul">Where am I getting my supplies?<ul> <li data-xf-list-type="ul">If domestic, what are the laws surrounding goods traded within the UK?</li> <li data-xf-list-type="ul">If international, what are the tax, customs, and other laws surrounding imported goods?</li> </ul></li> <li data-xf-list-type="ul">Are there any bills or anticipated changes in labour, tax, or trade laws?</li> </ul><p>Economic</p><p></p><ul> <li data-xf-list-type="ul">How will the high-interest rates affect the quality of my goods?<ul> <li data-xf-list-type="ul">Will I be able to find the balance between providing affordable goods at a low price or do I choose to provide premium goods at a premium price?</li> </ul></li> <li data-xf-list-type="ul">If I trade internationally, how does the exchange rate work in or against my favour?</li> <li data-xf-list-type="ul">With the rise of living costs and inflation, how many people would still be able and willing to spend their money on coffee shops?<ul> <li data-xf-list-type="ul">How can my prices reflect this?</li> <li data-xf-list-type="ul">Are people choosing to spend their money on other activities such as movies or on more permanent goods like clothes?</li> </ul></li> <li data-xf-list-type="ul">Will it be beneficial for me to provide other coffee-related goods within the café that isn’t perishable?</li> <li data-xf-list-type="ul">How will the changes in spending habits affect my traffic and potential customers?</li> </ul><p>Social</p><p></p><ul> <li data-xf-list-type="ul">How many coffee shops are in the area?</li> <li data-xf-list-type="ul">What is the culture like in the area?</li> <li data-xf-list-type="ul">Are there more students or more professionals with more disposable income?<ul> <li data-xf-list-type="ul">What are the average opening hours of coffee shops in the area and would it be beneficial to have a later closing time?</li> <li data-xf-list-type="ul">For instance, if the area has a greater student demographic, this might be advantageous for the business to be able to target students who are studying late and need a break or like to study in cafes.</li> </ul></li> <li data-xf-list-type="ul">What are the trends when it comes to favourite drinks?</li> <li data-xf-list-type="ul">What seasonal drinks are available within the area and sell well in the UK as well as in other countries with similar demographics and cultures?</li> </ul><p>Technological</p><p></p><ul> <li data-xf-list-type="ul">Are there special machines or tools that I can invest in to cut down on labour costs that will save me money in the long term?</li> <li data-xf-list-type="ul">What would be the costs of advertising on social media platforms and having certain events/discount codes available online to garner more interest?</li> <li data-xf-list-type="ul">How can I sign up to have my business listed in multiple delivery apps?<ul> <li data-xf-list-type="ul">Is there a way to advertise on the apps as well to promote my business?</li> </ul></li> </ul><p>Legal</p><p></p><ul> <li data-xf-list-type="ul">What are the laws for consumer protection that are relevant to goods and services?</li> <li data-xf-list-type="ul">What are the labour laws surrounding part-time and full-time employees?</li> <li data-xf-list-type="ul">What are the advantages and disadvantages of either contract?</li> <li data-xf-list-type="ul">What are the taxation laws that are relevant to SMEs, business properties, and goods purchased for business?</li> </ul><p>Environmental</p><p></p><ul> <li data-xf-list-type="ul">What are my alternatives where there is a disruption in my supply chain?<ul> <li data-xf-list-type="ul">Can I diversify my supply chain so that I can rely on my domestic chain if there is an event that affects my international supply?</li> </ul></li> <li data-xf-list-type="ul">If there is another legal restriction due to a pandemic, how can I counter the negative effects of this and provide my services and goods to a wide audience remotely?<ul> <li data-xf-list-type="ul">Can I rely solely on pick-up orders and delivery apps?</li> </ul></li> <li data-xf-list-type="ul">If there is an unforeseen event that causes damage to my store, what can I do to mitigate the risks of such an event?<ul> <li data-xf-list-type="ul">For a natural disaster such as a hurricane or a torrential storm, can I still operate within the store despite the damage? Can I at least take delivery orders and operate in a different location while the store is under construction?</li> </ul></li> </ul><p></p><p></p><p>SWOT:</p><p></p><p>Strengths</p><p></p><ul> <li data-xf-list-type="ul">Have an aesthetic café where people can come to take pictures and post on social media</li> <li data-xf-list-type="ul">Make the café available to be booked by local book clubs or members of the communities to solidify the café as a place essential to the community</li> <li data-xf-list-type="ul">Distinguish from other chain cafes or independent cafes by building café identity in being a place for the community</li> <li data-xf-list-type="ul">Have high-quality goods</li> <li data-xf-list-type="ul">Have periods of time blocked off for neurodivergent people to be able to frequent the place without being triggered</li> <li data-xf-list-type="ul">Establish café to be a brand that is safe for everyone</li> <li data-xf-list-type="ul">Mirror study cafes and have designated areas for students to come and study for long periods of time as well as separate areas that are dedicated to prime social media experience</li> </ul><p>Weaknesses</p><p></p><ul> <li data-xf-list-type="ul">Do not have the stability that comes with being a big corporate entity</li> <li data-xf-list-type="ul">Will suffer significant disruptions based on certain events</li> <li data-xf-list-type="ul">Do not have the resources to create seasonal drinks on a regular basis that are also inventive and innovative</li> <li data-xf-list-type="ul">Do not have the resources to invest in heavy marketing</li> <li data-xf-list-type="ul">Do not have the bargaining power of a large corporate entity to create a cheaper and more competitive supply chain</li> <li data-xf-list-type="ul">Will not be an early adopter when it comes to new tech in the industry due to limited resources</li> </ul><p>Opportunities</p><p></p><ul> <li data-xf-list-type="ul">Look into the trend of having study areas within cafes<ul> <li data-xf-list-type="ul">Or look into incorporating an activity within the café</li> <li data-xf-list-type="ul">E.g. Customers sign up for painting classes – provide the supplies needed at a price and have a session where people come together to draw and paint the same thing</li> </ul></li> <li data-xf-list-type="ul">Look into having bubble tea options on the menu</li> <li data-xf-list-type="ul">Look into having inventive baked goods options to garner interest</li> <li data-xf-list-type="ul">Current market is stunted as COVID has negatively affected a lot of independent businesses and high-interest rates and rising inflation means that it is much more difficult to start a new business.<ul> <li data-xf-list-type="ul">Look into providing a membership system where you can get a small, standard cup of coffee every day for a set monthly subscription price.<ul> <li data-xf-list-type="ul">Provide the drink at a slightly discounted rate in return for fixed income</li> </ul></li> </ul></li> </ul><p>Threats</p><p></p><ul> <li data-xf-list-type="ul">Competitors:<ul> <li data-xf-list-type="ul">Big corporations that can afford bigger properties with more room and a familiar menu</li> <li data-xf-list-type="ul">Already established local coffee shops with a regular stream of loyal customers</li> </ul></li> <li data-xf-list-type="ul">Factors beyond my control:<ul> <li data-xf-list-type="ul">Changes in the law</li> <li data-xf-list-type="ul">Inflation</li> <li data-xf-list-type="ul">Potential natural disasters and pandemics</li> <li data-xf-list-type="ul">Events that affect my supply chain</li> </ul></li> <li data-xf-list-type="ul">If consumers were to change their spending habits and are less inclined to eat out and go to coffee shops, this can affect my business negatively.<ul> <li data-xf-list-type="ul">Will have to find different selling points that will encourage those customers to spend their money at the café.</li> </ul></li> </ul></blockquote><p></p>
[QUOTE="jenniferyook, post: 134546, member: 10439"] [CENTER]The Corporate Law Academy Forum PESTLE & SWOT[/CENTER] [B][I]You are an entrepreneur seeking to start your own independent coffee shop in London. Using PESTLE and SWOT, what are some factors that you would consider when building your business plan?[/I][/B] PESTLE: Political [LIST] [*]What are the taxation requirements for independent businesses in London? [*]What are the labour laws surrounding part-time and full-time employees for potential staff at the coffee shop? [*]Where am I getting my supplies? [LIST] [*]If domestic, what are the laws surrounding goods traded within the UK? [*]If international, what are the tax, customs, and other laws surrounding imported goods? [/LIST] [*]Are there any bills or anticipated changes in labour, tax, or trade laws? [/LIST] Economic [LIST] [*]How will the high-interest rates affect the quality of my goods? [LIST] [*]Will I be able to find the balance between providing affordable goods at a low price or do I choose to provide premium goods at a premium price? [/LIST] [*]If I trade internationally, how does the exchange rate work in or against my favour? [*]With the rise of living costs and inflation, how many people would still be able and willing to spend their money on coffee shops? [LIST] [*]How can my prices reflect this? [*]Are people choosing to spend their money on other activities such as movies or on more permanent goods like clothes? [/LIST] [*]Will it be beneficial for me to provide other coffee-related goods within the café that isn’t perishable? [*]How will the changes in spending habits affect my traffic and potential customers? [/LIST] Social [LIST] [*]How many coffee shops are in the area? [*]What is the culture like in the area? [*]Are there more students or more professionals with more disposable income? [LIST] [*]What are the average opening hours of coffee shops in the area and would it be beneficial to have a later closing time? [*]For instance, if the area has a greater student demographic, this might be advantageous for the business to be able to target students who are studying late and need a break or like to study in cafes. [/LIST] [*]What are the trends when it comes to favourite drinks? [*]What seasonal drinks are available within the area and sell well in the UK as well as in other countries with similar demographics and cultures? [/LIST] Technological [LIST] [*]Are there special machines or tools that I can invest in to cut down on labour costs that will save me money in the long term? [*]What would be the costs of advertising on social media platforms and having certain events/discount codes available online to garner more interest? [*]How can I sign up to have my business listed in multiple delivery apps? [LIST] [*]Is there a way to advertise on the apps as well to promote my business? [/LIST] [/LIST] Legal [LIST] [*]What are the laws for consumer protection that are relevant to goods and services? [*]What are the labour laws surrounding part-time and full-time employees? [*]What are the advantages and disadvantages of either contract? [*]What are the taxation laws that are relevant to SMEs, business properties, and goods purchased for business? [/LIST] Environmental [LIST] [*]What are my alternatives where there is a disruption in my supply chain? [LIST] [*]Can I diversify my supply chain so that I can rely on my domestic chain if there is an event that affects my international supply? [/LIST] [*]If there is another legal restriction due to a pandemic, how can I counter the negative effects of this and provide my services and goods to a wide audience remotely? [LIST] [*]Can I rely solely on pick-up orders and delivery apps? [/LIST] [*]If there is an unforeseen event that causes damage to my store, what can I do to mitigate the risks of such an event? [LIST] [*]For a natural disaster such as a hurricane or a torrential storm, can I still operate within the store despite the damage? Can I at least take delivery orders and operate in a different location while the store is under construction? [/LIST] [/LIST] SWOT: Strengths [LIST] [*]Have an aesthetic café where people can come to take pictures and post on social media [*]Make the café available to be booked by local book clubs or members of the communities to solidify the café as a place essential to the community [*]Distinguish from other chain cafes or independent cafes by building café identity in being a place for the community [*]Have high-quality goods [*]Have periods of time blocked off for neurodivergent people to be able to frequent the place without being triggered [*]Establish café to be a brand that is safe for everyone [*]Mirror study cafes and have designated areas for students to come and study for long periods of time as well as separate areas that are dedicated to prime social media experience [/LIST] Weaknesses [LIST] [*]Do not have the stability that comes with being a big corporate entity [*]Will suffer significant disruptions based on certain events [*]Do not have the resources to create seasonal drinks on a regular basis that are also inventive and innovative [*]Do not have the resources to invest in heavy marketing [*]Do not have the bargaining power of a large corporate entity to create a cheaper and more competitive supply chain [*]Will not be an early adopter when it comes to new tech in the industry due to limited resources [/LIST] Opportunities [LIST] [*]Look into the trend of having study areas within cafes [LIST] [*]Or look into incorporating an activity within the café [*]E.g. Customers sign up for painting classes – provide the supplies needed at a price and have a session where people come together to draw and paint the same thing [/LIST] [*]Look into having bubble tea options on the menu [*]Look into having inventive baked goods options to garner interest [*]Current market is stunted as COVID has negatively affected a lot of independent businesses and high-interest rates and rising inflation means that it is much more difficult to start a new business. [LIST] [*]Look into providing a membership system where you can get a small, standard cup of coffee every day for a set monthly subscription price. [LIST] [*]Provide the drink at a slightly discounted rate in return for fixed income [/LIST] [/LIST] [/LIST] Threats [LIST] [*]Competitors: [LIST] [*]Big corporations that can afford bigger properties with more room and a familiar menu [*]Already established local coffee shops with a regular stream of loyal customers [/LIST] [*]Factors beyond my control: [LIST] [*]Changes in the law [*]Inflation [*]Potential natural disasters and pandemics [*]Events that affect my supply chain [/LIST] [*]If consumers were to change their spending habits and are less inclined to eat out and go to coffee shops, this can affect my business negatively. [LIST] [*]Will have to find different selling points that will encourage those customers to spend their money at the café. [/LIST] [/LIST] [/QUOTE]
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