horan katie business design project
TRANSCRIPT
Katie horan
What We Produce Aloha Boba produces various flavors of Boba Tea. Inputs (Factors of Production): -Commercial retail space -3 to 4 laborers to work the time when I am not available -Furnishings for Tea Shop (décor, furniture, sign) [Source: Ordered from furniture manufacturers] -Equipment/Ingredients to make tea [Source: www.bossenstore.com (this is a Bubble Tea supplier website that carries everything needed to open a Boba Tea Shop)
The name of my business is “Aloha Boba” and our slogan is “take a sip of vacation.” We are corporation. I chose this particular
business structure because, although there is more government regulation and
potentially more costs, I plan to have many franchises and would like to have
limited liability.
Our Rental Space in Alpharetta, GeorgiaQuick FactsSquare Feet: 1065 square feetMonthly/Annual Cost: $2130 per month, $25,560/yr.
What Do We Need?Item/Person Cost
3-4 Employees (One person can operate entire store)
$8/hr (Open 40 hrs/week)= $320/wk; $1280/month
Furniture (Tables, Chairs, Décor, Sign, Counter)
$5,000
Equipment (Cup sealer, dishware)
$1000
Ingredients (Green tea, black tea, milk tea, tapioca, flavored syrups, lychee jelly, condensed
milk)
$3000 initially ($500 per month to replenish supplies)
We will get money from investments (from interested investors as well as friends and family), bank loans, and personal savings.
What Licenses and Fees Are Needed?
We will need a business license as well as a Food Handling and Safety License. A business license costs anywhere from $100-$800 and a Food Handling license costs about $100-500. We will need Product Liability Insurance ($500-$1,000/year) and Recipe Process Approval ($70-$100/recipe). As a corporation we will pay taxes on our Net Profit.
Demographics of Alpharetta, GA� The age percentages are as follows:
� Under 5: 6.5%
� Under 18: 28.8%
� Over 65: 7.4%
� People of all ages enjoy Boba, although there is a focus on teenagers and young adults.
What Market Are We Competing In?
� We are competing in a Monopolistic Competition, as each Boba Tea shop has slightly different flavors and products. The buyer’s usually have a preference of which tea shop they like the best and therefore there is not much price competition. There is however competition to get Aloha Boba’s name out there for people to try out instead of their usual place.
