Texas Coffeehouse's Expansion
Texas Coffeehouse's Expansion
Texas Coffeehouse, located at the University of Texas Austin, plans to diversify its offerings by introducing alcohol sales and extending its operating hours until midnight. This expansion aims to boost revenue and cater to the demand for evening social spaces on campus.
Assess market demand for alcohol sales and extended hours at Texas Coffeehouse.
Estimate market size by identifying the potential customer base at the University of Texas Austin community.
Analyze competition within a 2-mile radius to pinpoint differentiation opportunities.
We plan to conduct an online survey through SurveyMonkey, which will be distributed using a QR code. The project team will reach out to participants through flyers with QR codes, which will be distributed on campus and the social media platforms of the coffee shop.
The flyers will also be at the coffee shops on each table, and places easily accessible by clients and visitors. We also plan to share posters on popular campus sites and social media platforms like Twitter and Facebook, with university-specific hashtags such as #UniversityOfTexasAustin and #StudentsTexasAustin.
Some of our questions include:
“Will you consider visiting Texas Coffeehouse between 3 pm and midnight if it extends the operation hours?”
“How much do you currently spend on alcoholic beverages?”
“What type of alcohol (e.g., beer, wine, cocktails) and related events (e.g., trivia nights,
live music) would you be interested in if offered at Texas Coffeehouse?”
Competitive Analysis
We use the BestTime API to find the hours of operation, as well as the busy hours, of coffee shops and bars. After that, we visit their websites to check their menus and offerings such as beers, cocktails, wine services, happy hours, etc. Then, we compare the hours of operation of nearby shops and bars, along with their general prices and how much one would expect to spend per person.
Timeline and Deliverables
Week 1: Survey design & competitive market research.
Weeks 2-3: Conducting survey
Week 4: Data analysis, final proposal preparation, and presentation.
Budget and Resources
A total of $2,500 will be spent on creating, distributing, and analyzing survey questions, and conducting the survey will cost $200. Each participant will be rewarded with a one-time 40% discount on a single item purchased from the coffee shop. The discount code will be sent to their email after they submit the survey results on their phone. The total cost of the discount codes will be $2,000. Promotional materials, including campus-wide posters, flyers, and in-store advertisements, will cost $300.