Category: Analysis Essay

Mel’s County Café was started in 1977 by Weirich family. It was founded by Richard Weirich for his wife Mary, and it was initially called Mary’s Fried Chicken. The café was renowned for using ingredients available in the local farms and their home-cooked meals. Mary’s fried chicken changed its name to Mel’s Café named after their only daughter. In 1992, the business went through a rough time with Mary’s passing away. However, the business picked up in 1994 and rose back to its previous success. The business expanded its menu with more varieties of burgers being introduced. Further, it has been doing well with most of the family members joining in to help with its running.

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Evaluation of the Business Model

A business model can be simply defined as a framework or plan for owning and operating a business. It is what determines whether the business will be successful or fail. Business models entail the services and products the company provides and how it delivers them to its customers. Pricing structures and payment for services and goods sold is also included in the business model. A sound business model is crucial because it ensures a long-term thriving of the business in question. In order to make the right decision on whether to buy an already existing business, there is the need to conduct an evaluation of the business model before making the decision. The following aspects are what one should take into consideration when evaluating a business model.

How profitable is the venture? Profitability is very important because of how profitable a company or business is determining the survival rate of that particular business in the long term. Profit is analyzed after all the business expenses have been covered and the products have been delivered to the consumers. Income statements are required here in order to assess the profitability of the business. Over the years, Mel’s Coun