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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="antoniovargas07" data-source="post: 134919" data-attributes="member: 19748"><p>Political: Where are you going to source your coffee beans from? Does the UK have any trade restrictions against that country? How politically stable is the country you’re sourcing the coffee beans from?</p><p></p><p></p><p></p><p>Economic: How much is it going to cost to import your coffee beans? How are you going to price your products? Need to consider whether you’re looking to buy or rent a space for your coffee shop. If buying, what is the interest rate on the loan? How much is the monthly repayments on the loan? If renting, how much is the rent? Are there any service charges attached to the property? What are the monthly gas and electricity bill costs? If I hire staff, how much will I pay them? How much will it cost to buy appliances and other items for shop?</p><p></p><p></p><p></p><p>Social: Where I’m going to locate my shop? In the heart of the city near offices or near residential area? How am I going to market the business? Which demographic am I looking to target with my marketing?</p><p></p><p></p><p></p><p>Technological: Do you want to accept different payment methods (e.g. debit card, through app, etc)? What type of machinery should you use to grind coffee beans?</p><p></p><p></p><p></p><p>Legal: How do ensure you comply with health, safety, and food allergen laws? If you’re developing your own brand for the shop, you would need to consider IP protection. If hiring staff, what employment laws do you need to comply with? If you’re leasing a property, the lease would need to be reviewed.</p><p></p><p></p><p></p><p>Environmental: What is the energy rating of the property you’re looking to buy/rent to use for the shop? Will you recycle? Will you use environmentally friendly products e.g. reusable cups, cutlery, etc?</p><p></p><p></p><p></p><p></p><p></p><p>Strengths: Alternative to established names in industry (e.g. Starbucks, Costa, etc). In comparison to large coffee chains, independent coffee shops employ less staff.</p><p></p><p></p><p></p><p>Weaknesses: Market for independent coffee shops in London is very saturated. Will be very difficult to stand out from others.</p><p></p><p></p><p></p><p>Opportunities: If have space, may want to turn it into more than just a coffee shop e.g. shared working space. Living in post-pandemic world where most people spend time WFH. If located near residential area, can attract people who WFH to work at coffee shop.</p><p></p><p></p><p></p><p>Threats: You will also competing against larger established companies who dominate the industry e.g. Starbucks, Costa, etc. Given we’re in a cost of living crisis, consumers may decide to make their coffee at home rather than buy one at a coffee shop. If another pandemic occurs, a lockdown may be imposed which could mean no business during that time. May be difficult to receive a beans if the countries you’re sourcing beans from are prone to natural disasters which will lead to supply chain issues.</p></blockquote><p></p>
[QUOTE="antoniovargas07, post: 134919, member: 19748"] Political: Where are you going to source your coffee beans from? Does the UK have any trade restrictions against that country? How politically stable is the country you’re sourcing the coffee beans from? Economic: How much is it going to cost to import your coffee beans? How are you going to price your products? Need to consider whether you’re looking to buy or rent a space for your coffee shop. If buying, what is the interest rate on the loan? How much is the monthly repayments on the loan? If renting, how much is the rent? Are there any service charges attached to the property? What are the monthly gas and electricity bill costs? If I hire staff, how much will I pay them? How much will it cost to buy appliances and other items for shop? Social: Where I’m going to locate my shop? In the heart of the city near offices or near residential area? How am I going to market the business? Which demographic am I looking to target with my marketing? Technological: Do you want to accept different payment methods (e.g. debit card, through app, etc)? What type of machinery should you use to grind coffee beans? Legal: How do ensure you comply with health, safety, and food allergen laws? If you’re developing your own brand for the shop, you would need to consider IP protection. If hiring staff, what employment laws do you need to comply with? If you’re leasing a property, the lease would need to be reviewed. Environmental: What is the energy rating of the property you’re looking to buy/rent to use for the shop? Will you recycle? Will you use environmentally friendly products e.g. reusable cups, cutlery, etc? Strengths: Alternative to established names in industry (e.g. Starbucks, Costa, etc). In comparison to large coffee chains, independent coffee shops employ less staff. Weaknesses: Market for independent coffee shops in London is very saturated. Will be very difficult to stand out from others. Opportunities: If have space, may want to turn it into more than just a coffee shop e.g. shared working space. Living in post-pandemic world where most people spend time WFH. If located near residential area, can attract people who WFH to work at coffee shop. Threats: You will also competing against larger established companies who dominate the industry e.g. Starbucks, Costa, etc. Given we’re in a cost of living crisis, consumers may decide to make their coffee at home rather than buy one at a coffee shop. If another pandemic occurs, a lockdown may be imposed which could mean no business during that time. May be difficult to receive a beans if the countries you’re sourcing beans from are prone to natural disasters which will lead to supply chain issues. [/QUOTE]
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Practise your commercial awareness for your next interview using PESTLE & SWOT.
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