What is one benefit of the subscription model for First Sip Brew Box and one limitation of the subscription model?
One benefit of the subscription model for First Sip Brew Box is that customers will get a variety because each month the products will be different that First Brew is providing as part of the subscription. This variety that First Sip has in its business model is crucial as it will keep customers wanting to pay for the subscription and continuously build a sense of anticipation for customers. On the other hand, a limitation of this subscription model is that First Brew has to continuously innovate new ideas and incorporate new products in the bundle that they provide in the subscription model and change each month for its customers.
How does the organization’s deep commitment to supporting small business and minority-owned, women-owned and veteran-owned businesses create opportunities and challenges for First Sip Brew Box?
This business model that First Sip utilizes in which they have a deep commitment supporting small businesses and minority-owned businesses can create both opportunities and challenges. This strong mission that First Sip has can create many avenues of potential parters because being based in Pittsburgh, there are many startups/small businesses looking to partner with companies who look to prioritize small businesses. Also, being a women-owned and veteran-owned business sets First Sip apart because usually businesses are one or the other not both. Potential challenges First Sip Brew Box may face is that because they are a alcohol business, there is a limited target audience they are marketing to because some companies do not want alcohol to be in their business model at all.
Based on what YOU are interested in studying in the business school (i.e. marketing, finance, etc.), what level of interest do you have in doing an “unpaid” internship for a small business or not-for-profit that could be supported with stipend from programs like the Tafel scholarship?
I would be interested in this opportunity because it is invaluable to be a part of small businesses as their is such a sense of community and every employee truly wants the best for the company. Getting an internship with a small company would help me massively as I would get a larger role potentially and can actually make a difference within the company. Ideally in my four years, I would like to have a mixture of internships some being small like this company and some larger potentially a consulting firm like Deloitte.