In your industry analysis, you need to provide an overview of the coffee business.<\/p>\n
While this may seem unnecessary, it serves multiple purposes.<\/p>\n
First, researching the coffee shop industry educates you. It helps you understand the market in which you are operating.<\/p>\n
Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards decaffeinated coffee consumption, it would be helpful to ensure your plan calls for plenty of decaffeinated options.<\/p>\n
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.<\/p>\n