Activity: A New Business

1)Before Albert’s expands into the neighbouring town, Albert could first find out
what the potential customers in the neighbouring town are like, whether there is
a demand for fresh produce, whether there is a high demand and low supply of
spices provided by Albert’s that could create a new opportunity for Albert’s to
expand, as if there is no demand for fresh produce or the other products provided
by Albert’s, it is not expected for Albert’s to succeed.

2) Albert’s could forecast the customer’s demand for products by making surveys
on what are the most commonly eaten vegetables or products consumed by the
locals in the nearby villagers, this means they can buy more of the more popular
product, while buying less of the less popular product, this will help save Albert’s
money, as it reduces the potential goods that might need to be thrown away due
to the lack of demand.

3) Albert’s could buy their products from the local farmers. This would reduce the
cost of transportation, while ensure the freshness of the product that Albert’s
sells, as if Albert’s buys it produce from a supplier far away, it would cost more for
transportation, and could go off its sell by date when the delivery arrives.

4) Albert’s should employ an in-house legal team, if they don’t already have that,
in order to ensure that during the set up of the new branch, everything abides the
law in order to avoid the need to pay fines and the risk of being forced to close
up, due to it not abiding building codes

5) Albert’s could use the fresh produce that is nearly going off to make their
homemade fruit juices, this will cut costs, as the produce would often be thrown
away, however, the produce now can be stored longer and can now still generate
a profit for Albert’s.