Answered>Order 18070

AVENUE BOOKSTORE

Avenue Bookstore, which is owned by Chris Redfern and is one of Australia’s award-winning bookshops, was opened in 1986 in the heart of Albert Park village. Redfern regards the business as a book haven, a favourite meeting place and a destination for book lovers across Melbourne and beyond. 

There are also stores in Elsternwick and Richmond that carry an extensive and personally curated range of local and imported books with a strong focus on the best new releases and backlist titles in all categories. Avenue Bookstore prides itself on a high level of customer service and knowledgeable staff.

Redfern believes that despite the threat of e-books and online suppliers such as Amazon and the post-Borders world, ‘there is a great opportunity for good bookstores to thrive’ and going to a local bookshop ‘is a cultural experience, a curated experience’. He says that customers choose books and Avenue Bookstore employees talk to them about their selections or assist them in choosing books. 

References

Avenue Bookstore: https://avenuebookstore.com.au/pages/480-About

‘The resurgence of Melbourne booksellers despite the digital revolution, The Age, 15 September 2016: https:// 1

Describe the legal business structure you believe is suitable for the Avenue Bookstore. Explain one advantage and one disadvantage of this.

Question 2

Outline three resources (natural, labour or capital) Avenue Bookstore needs in order to operate.

Question 3

Avenue Bookstore has three stores in different suburbs in Melbourne: Albert Park, Elsternwick and Richmond. Explain one factor Chris Redfern would have considered when choosing the location of his stores.  

Question 4

Outline a source of finance that Chris Redfern could have used to finance Avenue Bookstore.

Question 5

Explain the strengths and weaknesses of Avenue Bookstore having a bricks and mortar business and an online store. 

Question 6

Describe how Avenue Bookstore could use a SWOT analysis to assist with its business planning.

Question 7

Prior to the establishment of any business, the owners should develop a business plan. Describe the benefit for Avenue Bookshop of using a business plan.