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To Build or Buy: Starting a Coffee Shop: Building a New Business vs. Purchasing an Existing One

A business decision-making assignment comparing the benefits of starting a new coffee shop versus buying an existing one.

Lucas Allen
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ToBuild or Buy1Running Head:TO BUILD OR BUYTo Build or BuyBased on your analysis of the coffee shop business strategy, outline the advantages anddisadvantages of starting a new coffee shop versus purchasing an existing one.1.Discuss the factors involved inselecting a new coffee shop location and how these couldaffect the business's future success.2.Evaluate the key aspects of a business plan for a new coffee shop, highlighting essentialstrategies for gaining a competitive edge in the market.3.How does the choice of business ownership (Sole Proprietorship) impact the operationaland financial aspects of starting a new coffee shop?Provide a detailed response that incorporates both the benefits and potential risks associated withopening a new coffee shop, as well as how these factors contribute to the development of a solidbusiness plan. Your essay should be between 1000 and 1500 words

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Business Management

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