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Mystic Monk Coffee Case Study - Make Cover Page

Autor:   •  February 27, 2016  •  Case Study  •  404 Words (2 Pages)  •  539 Views

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Erin McGuire

27 February 2016

MGT 465

Mystic Monk Coffee Case Study MAKE COVER PAGE

Father Daniel Mary, the prior of the Carmelite Order of the monks in Clark, Wyoming, had a great vision in purchasing land that would hold a new monastery. He envisioned it to be 500-acres and it would be able to accommodate 30 monks, a Gothic Church, a convent for Carmelite nuns, a retreat center for visitors and a hermitage. Currently the monks were all residing in a small house which held only 13 of them. A nearby ranch was found by Father Daniel Mary and it met all of his exact specifications and requirements. However, it came to a cost of $8.9 million which presented a huge financial complication for Father Prior and the rest of the Carmelite Order. Mystic Monk Coffee, the Carmelite Order’s coffee business, had earned almost $75,000 in its first year of operations. Mystic Monk Coffee sold coffee as well as accessories such as CDs featuring the monastery’s chants, t-shirts, gift cards, coffee mugs and more. Although Mystic Monk Coffee has a net profit margin of 11% of revenues, more money was definitely going to be needed in order to capture Father Daniel Mary’s vision. The Carmelites received a donation of $250,000, however it is not enough to cover the $8.9 million listing price of the new ranch. Since the founding of the monastery six years ago, over 500 young men inquired information on becoming a Wyoming Carmelite. Father Daniel Mary wished to have 30 monks join the brotherhood between the ages of 19-30, however the criteria for acceptance was difficult and demanding.

The ultimate key issue for Father Daniel Mary is the need for money for the ranch for the potential new monastery. With nearly 150 million people in the United States being coffee drinkers, this meant good business for Mystic Monk Coffee. Mystic Monk

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