Asthe technology is taking over the new age youths, the demand for cozyinternet hotspots does not match up to the few available around. Thenew generation of youths frequently require a place torelax, and spend time with friends, log in to social siteswhile having a cup of coffee, take a peak in their mail inboxes forwork emails, all while having a snack and chatting with friends. TheHaven has its main objective as filling the market gap whilemaking profit. The business mission is to offer connectivity to theworld at the best comfort. The Haven’s key to success isoffering the best quality.
Description of the Business
The Haven will operate as a sole proprietorship at the startand later grow to a separate legal entity. The business will work atits optimum at the hub of the city where data traffic is always atits peak. Offering super-fast internet access at the comfort ofexpedient seats, a warm, friendly environment, and a snack café willbe its main attraction to the target market. The business seeks toattain market leadership since the industry is unexploited. Thebusiness offers both internet services and snack products.
Thebusiness aims at tapping the center market in the city beforeventuring out to other areas. The decision came after a detailedanalysis of the market demand for such services in the cityespecially during work breaks and evenings. The motive behind thisdemand is that there are limited options of having the three at once:comfort, fast internet and a snack café. The business targets twomarket segments, the youth and the working class. According to recentsurveys, these two groups record the highest data usage in manycities and the globe. These are social and hardworking segments inthe market. The business estimates a high value return from thismarket segments where, the youth will take up part of the day’ssales, while the working class will take up the evenings and duringwork breaks. Products and services pricing will use a cost-pluspricing strategy.
Longenecker,J., Petty, J., Palich, L., & Hoy, F. (2011). Smallbusiness management: Launching and growing entrepreneurial ventures.Cengage Learning.