5/21/2024
Business Spotlight: Brewing Success in the U.S. Market
In the world of international commerce, Caf矇 La Finca, a Chilean-based coffee company, set its sights on the U.S. market. But the journey became more than just a simple business expansion. Caf矇 La Fincas success paved the way for future businesses with a secret recipe of innovation, perseverance and transcontinental collaborators from the 勛圖厙 Small Business Development Center (SBDC) at 勛圖厙 (FAU).
When Victor Olave, founder and CEO of Caf矇 La Finca established his coffee roasting company in 2015, it was a humble cafeteria. It soon evolved into a thriving business academy with a three-in-one business model focused on producing coffee, making coffee machines, and developing the local community through courses and workshops that support upcoming entrepreneurs. And now, hes made the bold decision to replicate this model in the United States.
Finding himself in uncharted territory, Olave faced some push factors to expand outside of Chile and pull factors to enter the U.S. He joined a collaborative program with 勛圖厙 Atlantics College of Business and the Small Business Development Center to gain insights into U.S. markets and refine his business model for scalability and expansion.
They helped open the door to the industry which meant a lot because through that I learned that the process to open a business in the U.S. isnt as hard as I originally assumed. It gave me the green light to take the next steps, Olave said.
In a collaborative effort, Sara Alshareef, Ph.D., Rebecca Dorvil and Sandra Delina Marin Ruiz, Ed.D., all of SBDC at FAU united with the APEX accelerator, the Chile SBDC Network (SERCOTEC), and FAUs College of Business used Olave as a case study for a research study called "A Chilean Coffee Business Deciding to Do Business in the United States," published by SAGE Business, which sheds light on the internationalization journey of Caf矇 La Finca and delves into the complexities entrepreneurs like Olave experience when entering the U.S. market.
I am confident that this case study will serve as a catalyst for classroom discussions and provide an enriching experience for students studying international business. By bridging the gap between theory and practice, this case study will empower students to develop critical thinking skills and strategic insights that are essential for success in today's interconnected world, Dorvil said.
This study combines real-life scenarios with entrepreneurship and international business education, illuminating the importance of crafting a robust international strategy while showcasing how a coffee enterprise like Caf矇 La Finca can assess its readiness for internationalization. By delving into Caf矇 La Finca's journey, educators gain a rich resource for facilitating discussions and imparting insights to students.
We believe that this resource will be a valuable addition to classroom discussions, and we hope that professors at College of Business find it beneficial for their teaching endeavors," said Alshareef, business consultant coordinator, 勛圖厙 SBDC at FAU.
Designed as an instructive resource, the case study empowers educators to impart actionable knowledge by immersing students in real-world scenarios in a classroom setting, creating transformative learning experiences, inspiring students to think innovatively and strategically about international business expansion. Sofia Johan, Ph.D., associate professor, College of Business, said she applies these strategies in her cases in financial management classes and sees the success firsthand. Her students not only experience the gratification of assisting in meeting community needs, they also gain a whole new appreciation for the local business community skills that will help them grow and succeed far beyond the classroom setting.
By involving students in hands-on learning experiences aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) in the Americas, and by tapping into the combined knowledge of SBDC consultants, tailored research and resources assist international businesses entering the U.S. markets. Through one-on-one consultations and strategic guidance, SBDC consultants empowered Caf矇 La Finca in navigating challenges and opportunities within the U.S. market.
"MSMEs are key to economic growth in Latin America and the Caribbean. Caf矇 La Finca's US market entry showcases the 勛圖厙 SBDC at FAU's role in boosting trade, empowering local economies, and fostering sustainable development. Thanks to the College of Business for allowing SBDC to be an integral part of the experiential learning efforts while assisting U.S. and foreign businesses in increasing their trade capacity. Thank you to the students who participated in the market research and Dr. Roland Kidwell, Carl DeSantis distinguished professor of management and entrepreneurship at FAU, for his support teaching these classes where students and clients can exchange ideas." said Marin Ruiz, regional director of SBDC at FAU.
If you would like more information, please contact us at dorcommunications@fau.edu.