One benefit of the First Sip Brew Box subscription model is that one will always receive a different box each month. Subscribers know that they will receive quality beer in each box; however, the uncertainty of the new beer keeps things interesting. Subscribers will ask, “I wonder what beer I will get this time.” In other breweries, customers know what they get every time, which may make their purchases boring. Due to the way First Sip has created its business model, one will never get bored of the new beers. Also, with the variety of beer in the box from small businesses, First Sip is growing its brand; this inherently creates shared value between First sip, the small companies, and the consumer. One limitation of the subscription model is that customers must be completely vested in the services provided. The business model is dependent on returning customers, and the one-and-done service does not allow this to happen.
First Sips’ deep commitment to supporting small businesses, minority-owned, women-owned, and veteran-owned businesses shows the company’s value for diversity and inclusion. Supporters of diversity and inclusion will want to buy products and services from First Sip since the values align. Over time, First Sip could also gain sponsorships from these demographic groups, and that would help grow both of their brands while at the same time supporting the causes they approve. As seen in the social entrepreneurship lesson, companies may receive endowments from organizations with the same goals. These endowments can be placed back into the business and donated to minority-owned, women-owned, or veteran-owned businesses. A potential challenge this may create is that some prospective customers may feel the organization is “too political.” In my opinion, it is always great whenever a company is transparent about its goals or social mission, but sometimes customers want the company to stick to selling beer. This may alienate specific customers from wanting to shop at First Sip Brew Box. First Sip has to determine if the social mission is more important than losing a few potential customers.
As someone interested in studying Finance and Marketing, I am open and willing to participate in an “unpaid” internship that the Tafel Scholarship could support. Suppose the company is a start-up and I have some experience in the services they need. In that case, I believe it would be a great learning and leadership experience for me. For example, if I had to help a local business develop new ways to reach certain demographics, I could use the Pitt campus to get a greater understanding of what would attract college students to the business. I would rather have a prominent role completing daily tasks at a small firm than working at a more established firm not contributing much. A stipend of $2,250 for a 10-week internship is very generous from the University, and I look forward to doing more research and applying for the Tafel scholarship soon.