Ms. Jacqueline Marcus, Based on the research from other companies my proposal and recommending for improving our business model for PersuadeCafe . I was able to gather that we are in need of improvements in our sales market, products, design, technology, operations, communication, customer service, finances and human resources. Base on the reports the company’s revenue is down 10%. The company revenue is down 10.3 which is a due to the economy and our competitors such as McDonald and Dunkin Donuts.
Persuade Café online sales are at 4%. There is a slow growth of Espresso Drinks at 21%. We are looking at stock prices being down 27% from its highest point and closing out at $17.12, which is 27.4% down from 2005 year-end closing of $23.73. Researching our customer and employee survey results, the negative and positive feedback we received was a discrepancy in speed, tired pastries and boring décor. In providing a survey to our employees there feedback was we have a sink or swim training with very few career opportunities in the company.
After realizing the results from our employees we need to focus improvements in the area of online sales. Our competitor like McDonald’s and Dunkin Donuts are utilizing Facebook and Twitter. I suggest that we enter the realm of social media, which will increase our customer base. We would need to promote more of our pastries and espresso drinks. I believe if we do this kind of marketing that we will see a better response in what we are doing and improve our online sales.
I believe that Dailia Flores the Vice President of Design and Development is correct in her assessment that we should update our location with more modern décor. My recommendation to improve on our décor would be to invest between 20,000 and 30,00 dollars in PersuadeCafé improvements. We want our customers to come in get a cup of coffee and pastry, have a seat and enjoy our atmosphere with will promote more spending. Implementing WI-FI Hotspot and internet access free of charge will also entice the customer to stay longer. This will incur small charges but we will be able to attract people to our location, generate additional revenue and be able to establish a private network for our own use.