Executive Summary
We conducted a test whose main objective was to establish where most people at Suffolk University took coffee. The test targeted several students who spend most of their time at the university hall. The purpose of the test was to determine the viability of opening a coffee shop with the university premises. After establishing there is a market, Bean Me business is to provide cheap, high quality and variety of coffee at an affordable rate than the coffee shops outside the university. One major driving factor for the test is that it opens up a coffee business opportunity for Bean Me coffee house in the institution. Bean Me has been running a coffee shop in California and has been performing well. Bean Me is the perfect candidate for opening up a coffee shop at the school because it offers a variety of coffee brands at an affordable price, unlike other coffee shops around the institution.
Primary data was essential for the study, and thus, 400 volunteering students were expected to take up an online survey (qualtrics). The personal information as confidential, and no student was allowed to give their name on the online survey. A total of 214 male students and 186 female students participated in the survey. After taking the online survey, survey data was collected for the results to be analyzed. In the survey, it was noted that 34% male and 16% female students preferred going out of the institution to buy coffee. Another 28% male and 40% of female students reported taking coffee four times a week. 63% of the students reported preferring regular coffee over custom order coffee, which was preferred by 32% of the population. 36% of the participants stated to prefer taking their coffee inside Moder/10West hall. When it came to price, 57% of the student was ready to pay $4.00 for coffee, while 5% preferred to pay $5.00. Based on the results of the survey, it was evident that most of the students were willing to pay for coffee, which they believed to be at a lower price. Also, it was clear there was a demand for a coffee shop inside the school because most of the students reported going outside the school to buy coffee. From the test, it is clear that there is a market for coffee consumption, and thus, Bean Me should provide high quality coffee at an affordable price for the students.
Primary data was essential for the study, and thus, 400 volunteering students were expected to take up an online survey (qualtrics). The personal information as confidential, and no student was allowed to give their name on the online survey. A total of 214 male students and 186 female students participated in the survey. After taking the online survey, survey data was collected for the results to be analyzed. In the survey, it was noted that 34% male and 16% female students preferred going out of the institution to buy coffee. Another 28% male and 40% of female students reported taking coffee four times a week. 63% of the students reported preferring regular coffee over custom order coffee, which was preferred by 32% of the population. 36% of the participants stated to prefer taking their coffee inside Moder/10West hall. When it came to price, 57% of the student was ready to pay $4.00 for coffee, while 5% preferred to pay $5.00. Based on the results of the survey, it was evident that most of the students were willing to pay for coffee, which they believed to be at a lower price. Also, it was clear there was a demand for a coffee shop inside the school because most of the students reported going outside the school to buy coffee. From the test, it is clear that there is a market for coffee consumption, and thus, Bean Me should provide high quality coffee at an affordable price for the students.