enterpreneuship essay

enterpreneuship essay ? My business will be a restaurant that will be a Food truck that make and sell sweets. 2.? ?Present your choice in a few sentences. 3.? Next, in the same Word document, write a one page description of the industry you are choosing to enter with your entrepreneurial idea. Conduct a search on the Internet, the Online Library, or your local library to learn more about this industry. (It might be fishing, hunting, auto, weaving, bowling, office equipment, computers, and so on.) What opportunities for you new business ideas do you find within the industry? How well might your idea fit within this industry? Suggestion: Dig into two or three trade journals published within the industry you are considering. 1.? Finally, write a one paragraph analysis of your business idea based on the Opportunity Checklist linked below. Based on the checklist, assess whether or not your idea is just a weaker idea or a better opportunity. Share details from the checklist. Opportunity Checklist?Need a checklist just like this one for my business? You need to open?Opportunity Checklist Need reference (APA) Opportunity Checklist Print this form. Study each business area in the left column below (Customer, Trends, Market, Product, Funding, and Locations) and compare your new venture product/service attributes with Weaker Opportunities (center column) or Better Opportunities (right column). Circle the opportunity level that seems to fit. (Remember, no product/service will fit each level perfectly.) When you are done, take notes on For Analysis at the end. ? ? Business Area ? Weaker Opportunities Better Opportunities Customer Is the customer identifiable? General customer ? coming from many types of groups Specific customer with specific characteristics Demographics ? age, economic, location fuzzy Clearly defined Trends Window of opportunity Closed/closing open Market Size Small/Narrow Large/diverse Growth Stagnant/declining Growing Product Frequency of purchase One time purchase Multiple purchases Price Market penetration pricing Value reflected in price Direct competitors Many Few Indirect Competitors Many Few Substitute Products Many Few Government regulation Complicated/high Low/simple Taxes High Low Vendors/suppliers Few/unavailable Many/interested Profit GM>30% GM<30% Funding Start-up costs High Low Investors Few/unavailable Many/highly interested ?Locations Stores/ Outlets/ Service Centers Specific location types needed Varied location types acceptable ? For Analysis As you complete the opportunity checklist on your new venture, you should begin to see a trend. (Take notes!) Either your product/service will fit more with the Weaker Opportunity characteristics or fit more with the Better Opportunity characteristics. If your product or service falls in the weaker opportunity characteristics then you may just have a good idea but not an opportunity. Write your analysis in a separate Word document for each business area ? Customer, Trends, Market, Product, Funding, and Locations. ? ? .Answer preview A food truck offers the convenience needed by the customers. A mobile kitchen is in a position to cook up new customers. It is key to customer satisfaction. An entrepreneur can make modifications on their brand so easily ? APA 668 words