Lecture Notes: Amelia Dilva's Coffee Shop

Introduction

• Speaker: Amelia Dilva
• Coffee Shop: The Cupcake Station
• Established: 1 year ago
• Personal motivation: Realization of a long-time dream to own a coffee shop

The Journey to Opening a Coffee Shop

• Initial Experience: Worked part-time at another coffee shop to gain industry knowledge
  • Importance of understanding customer preferences
  • Initial offerings: only cupcakes and coffee
  • Customer feedback led to expansion of menu (muffins, donuts, pie)

Key Business Insights

• Knowing Your Customers: Essential for business success
  • Adapt offerings based on customer preferences to attract more business

Challenges Faced

• Starting the Business:
  • Difficulty securing funding
  • Attempted to get a bank loan, but faced rejection from multiple banks

Steps Taken to Overcome Challenges

• Took a business class
  • Learned how to write a business plan
  • Conducted research on:
    • Customers
    • Neighborhood
    • Competitors (other coffee shops)
  • Developed a clear business plan outlining how the business would generate revenue

Conclusion

• Importance of research and adaptability in business
• Encouragement to keep pursuing dreams despite challenges
• Closing remarks: "Thanks for watching!"