You will need to develop a presentation in groups of 3, 4 or 5, that clearly expresses your ideas at a formal exhibition of business ideas in the context of becoming an entrepreneur..
Assignment 1 – Group Presentation
You will need to develop a presentation in groups of 3, 4 or 5, that clearly expresses your ideas at a formal exhibition of business ideas in the context of becoming an entrepreneur.
You are required to use critical judgement to select strategies for sustainable and innovative business or social enterprise start-up
You will need to produce a visual display and some point of sale material, flyers, or leaflets to support the presentation.
The presentation should draw upon theories/concepts and traits that identify entrepreneurial skills and should include an assessment of where your need for development lies.
You are required to come up with an idea for a business which forms the basis of your work for the assignment. Once the idea has been established you are encouraged to develop a business model, this can be a simple roadmap for your business and it is only used for you to be able to carry out the following tasks:
Task 1 – Business Idea Development The business idea should be something new and your own development. It can be a totally new radical or an incremental innovation on an existing product/services, (Examples may include: Themed restaurants, Platform offering skilled workers for small tasks, online laundry service, News and information sharing app). The key thing to consider if using existing models is your competitive advantage and why customers would buy yours.
Task 2 – Business Plan Once you are happy with the idea and the model you wish to develop/ write a business plan highlighting the following:
Market Analysis: Clearly identify the customer need, or problem that your product or service addresses. Clearly identify the target market and specify its’ characteristics, i.e. size, value, geographic location and any demographic details. You should also indicate whether you expect this market to grow, remain stable, or shrink.
Industry Analysis: Outline the characteristics of the industry that your business will compete in. Who are the main competitors?
Operations Detail: Give details on the location of the premises, transport links (this is how your customers will get to you, or will facilitate the distribution of your products), general site information, external considerations, building, parks and premises details.
SWOT Analysis: Strengths: why will customers buy from you instead of your competitors? What does your business do better than your rivals? What makes you stand out from the competition – your unique selling point (USP)? Weaknesses: why would your customers buy from your competitors rather than you? What do your competitors do better than you do? Opportunities: What are the opportunities for you and how are you taking advantage of them? Threats: what are the potential changes that could threaten your business?
Financial Requirements: Provide a detailed breakdown of the financial requirements for your business. This should include the following: The start-up costs of the business to include costs such as any equipment; furniture; premises costs (including any building works required); opening stock, etc. Your estimated cost of sales, your expected selling price.
-Business name: Gastro Bistro-Cafe
-Location: Canary Wharf
-Team is formed of 4 people:
Mariana Mihaela Bucsa-ID: S1910546
Anca Denisa Ionita -ID: S1810377
Lenuta Boghian-ID: S1910694
Rodica Danila- ID: S1910105
-Start- up capital of the team – 30.000£/p- individual savings
-Govern new business grants: 50.000£
-Target market: Offices, schools and residential properties in the area.