Business strategy Case Study Example | Topics and Well Written Essays - 2000 words

Business strategy - Case Study Example The perception of exclusivity that is in line with being a tenant of the garage also denotes the high demand for it. In terms of financial returns, given the amount to be used to compute individual unit net common area charge, as stated in Exhibit 4 with a figure of 42,780, the individual unit common area charge amounts to 388.91 (if spread among the 110 spaces), or 32.71 in a month. If the rental price continues to be at 100 per car per month, then the business must be producing profits. Then this is a good investment. Thus, Eliot Conviser should buy the garage. The decision to convert the garage into a garage condominium depends on the preferences of the market, that is, the preferences of the tenants and other prospective tenants. If the market needs a parking space, and they want to own it, then the garage condominium concept is possible. If the market does not want it, what happened with the previous owners failed venture will only repeat in Eliot Convisers. For Eliot Conviser to make a good decision, he must survey the market again as regards the feasibility of the idea. If the markets preference changes, say if parking space within the area has been scarcer than ever before, and ownership would definitely be a great substitute to renting the space, then the project can pursue. With the sentiment of the market to back up the idea of ownership of parking space, then the garage condominium concept would prove to be successful. However, as there is no evidence to any of these as stated in the case, it cannot be assumed that market sentiments and preferences have already changed to support the idea of garage condominium. With this, Eliot Convisers decision should be not to go ahead with the garage condominium. He, however has another option in order to make the business profitable. If he cannot sell the condominiums because the market