C8 • THE SILHOUETTE
THURSDAY, JANUARY 20, 2011
Small Business
In Brewing success in the ‘hood Brief Taking an in depth look at the Westdale Cafe JP Morgan Refunds Mortgages
JP Morgan Chase & Co, the second largest US bank by assets, has announced that they will be reimbursing over two million dollars to families who were overcharged on their mortgages and lost their homes due to foreclosure. This comes after lawsuits were filed by serving military personnel who are protected under the Servicemembers Civil Relief Act, which protects activeduty personnel from foreclosure and prohibits banks from charging more than six per cent for a mortgage.
Apple crushes estimates
Not that it comes as a surprise to anyone, but Apple had a fantastic holiday quarter seeing their profit rise 78 per cent due to the immense demand for Apple related products. This also comes after Steve Jobs announced that he will be taking a medical leave of absence for his cancer related illness. Analysts also predict that this momentum will sustain Apple’s growth and share price throughout the next 12 months.
Sobering sports statistic
While we all may think that we drink responsibly while cheering on our favourite sporting teams, this may not be true according to a new study published in the medical journal Alcoholism. The research, which used breath tests from 362 attendees of 13 baseball and 3 football games, found that 40 percent had been drinking. Another interesting statistic showed that one in 10 stadium attendees leave the event above the legal limit. Not that us sports fans did not already know that.
Las Vegas loses its crown
What was once thought of as the go-to place in the world for gambling has been overtaken by a new sin city. However this one just happens to be located in Macau, China and it has overtaken Las Vegas in capital for bond performance. Basically, more people are heading to Communist China to gamble, and before you laugh at how contradictory that is consider this: Macau’s casino revenue for one month was the equivalent of half the earnings in Las Vegas for 2010.
Good news for Hamilton
Just when you thought that all hope was lost for Hamilton’s steel industry it has garnered enough breath for one more kick at the bucket. ArcelorMittal has pledged to invest 253 million over the next two years to increase production and energy efficiency at its Stelco location. This move will continue production of a special galvanized steel and retain jobs for years to come.
PC on the decline?
A report released by Deloitte on annual sales has forecasted that in 2011 smartphones and tablets will outsell the PC. The numbers predict that 425 million smartphones and tablets will be sold versus 400 million personal computers. While this may not mean the complete death of the PC, it will definitely start to see a decline with the introduction and usage of these newer personal devices.
The Westdale Cafe has taken a student-centric approach in catering to the needs of the community. SANTINO MARINUCCI
ASSISTANT BUSINESS EDITOR
If you have not already heard of the Westdale Café, then you probably spend no time in the downtown of Westdale or just plain don’t like coffee. For those who have not heard of this coffee shop, it is the ultra-modern storefront that opened last year right on King Street. In this segment of our exploration through Westdale’s plethora of small businesses we will see how this business came to fruition and why they are worth your business. I had the pleasure of talking to Britney Guerin, who is the Manager of the Westdale Café to see what their business was all about, and their rocky start to their positive revival as one of the places to go in the town. When asked about why they chose Westdale to start up their business Britney Guerin explained that “the logistics behind expanding into the Westdale area was that it is the place to be and they want to help turn it into the next Yorkville. “We were told that this is a great
area to help break into the student demographic because it is a heavily populated student area and has increased foot traffic and coffee is up and trendy at this moment.” When asked if their sales are comparable to the other coffee shops in the area like Second Cup and My Dog Joe, she explained that Westdale Café does have aspects of their business that separate them from the competition, like Second Cup and Starbucks. “We are a different form of competitor when comparing to someone like Starbucks and Second Cup, this is because they are button pushers and not Baristas. Not to put down their business or their way of business, but we use different techniques and more manpower than button pushing.” She also explained that when one places more mental capacity into coffee making, there is a greater love for the work done, and therefore a better product is made. Britney said that it was this that set them apart from Baristas who are simply “button pushers.” In addition to this she mentioned that due to restructuring
and a more student-centric agenda, the coffee shop is becoming more a part of the neighbourhood. “Our sales numbers are increasing; we have only been here about a year and since I have been here sales have been going up day-byday and week-by-week.” Along with the increasing sales numbers, Britney said that they will be targeting students on a more personal level by making their brand more known to first and upper year students. This will be done by competing more closely with local coffee shops and aligning their business plan with the needs of the students. However, one thing that many people from Westdale don’t know is that the Westdale Café is part of a larger conglomerate called the Integra Corporation which is an investment firm and the store is run by Coffee Investments Inc. who funds the Café. This does not mean that they are a chain; it means that they are funded corporately but all business and management is done on the storefront level. This means that it is different from a Starbucks or
CHRISTOPHER CHANG / SENIOR PHOTO EDITOR
a Tim Hortons because it does not have the feel of a corporately run business. When I asked whether this hinders the decisions or management styles on the storefront, which would ultimately affect the customers, Britney explained “because we are not part of a corporate chain we have more flexibility with the public instead of following a corporate standard and doing what every store wants.” At the end of the day Westdale Café is here to stay and here to serve the thousands of students who grace the sidewalks of Westdale every single day. Sometimes people only go with what they know, in terms of restaurants, bars, and coffee shops that they like. But you never would have found those places without that sense of adventure you get from finding your own little gem. Do yourself a favour and try out the Westdale Café. Take it from a student, you will not be disappointed.