Thursday, January 30, 2020
Mystic Monk Coffee Essay Example for Free
Mystic Monk Coffee Essay The Wyoming Carmelite monastery was founded by Father Daniel Mary who lived as a Carmelite hermit in Minnesota before moving to Clark, Wyoming, to establish the new monastery. Soon after arriving in Wyoming, Father Daniel Mary had formed the vision of acquiring a new piece of land where he will be building a new monastery with accommodations for 30 monks. This new monastery that Father Daniel Mary has in vision will also be a retreat center for lay visitors, a Gothic Church, a convent for Carmelite nuns, and a hermitage. There were 13 monks dedicated to a life of prayer and worship in the Wyoming Carmelite monastery. Brother Elias, better known as Brother Java, was Mystic Monk CoffeeÃ¢â¬â¢s master roaster; and ironically is not a coffee drinker. Mystic Monk Coffee had its own website that was responsible for the majority of their sales. Mystic Monk Coffee was also marketed on websites through the ShareASale participation program. A new larger roaster was quoted at $35,000. Father Daniel Mary had a set plan to maximize the potential of monastic opportunities, and realize his vision of buying the Irma Lake Ranch for $8.9 million dollars, and will be the location of the new monastery. Father Daniel Mary is fully aware of the challenge he has in front of him in order to acquire the Irma Lake Ranch. I believe Father Daniel Mary has set definite objectives and performance targets for achieving his goal and I believe that starts with him realizing that the cloistered monastic environment offered unique challenges to operating a business enterprise, but also provides opportunities that were not available to secular businesses. Father Daniel Mary used the word of mouth among loyal customers as a marketing tool in Catholic parishes across the United States. Father Daniel Mary is also fortunate to receive donations, a $250,000 one in particular; but there is also a group of local business owners that had formed the New Mount Carmel Foundation, which helps the monks raise funds. I believe that Mystic Monks Coffee is using the broad differentiation strategy because they are distinguishing that they are different from other coffee companies because of their strong religious background. Through religion the monks are able to market their coffee brand to other Catholic parishes throughout the United States. The monks are able to make $56,500 per month in their first year of operation through sales of coffee and accessories; but they only make a profit of 11 percent from all sales, which is $6,215 a month in revenue. ThatÃ¢â¬â¢s only about $75,000 in profit after their first year of operations. A larger revenue will be needed in order to purchase Irma Lake Ranch. So right now I believe that Father Daniel Mary has made great progress but he is still a long ways away from purchasing a $8.9 million piece of land. Father Daniel Mary resolved to develop an execution plan that would enable Mystic Monk Coffee to minimize the effect of its cloistered monastic constraints, maximize the potential of monastic opportunities, and realize his vision of buying the Irma Lake Ranch. I would consider this a winning strategy because through good faith Mystic Monk Coffee will maximize profits and be embraced by all Catholic parishes in America, and each parish will be able to spread the good word through risk-free marketing. My only recommendation to Father Daniel Mary would to recruit more monks, which will help with the growth of Mystic Monk Coffee. More monks equals more productivity.