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Entrepreneurial Opportunity- PDF

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Added on  2020-11-12

Entrepreneurial Opportunity- PDF

   Added on 2020-11-12

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ENTREPRENEURIALOPPORTUNITY
Entrepreneurial Opportunity- PDF_1
Table of ContentsINTRODUCTION...........................................................................................................................1MARKET ATTRACTIVENESS.....................................................................................................1CONCLUSION................................................................................................................................2REFERENCES................................................................................................................................3
Entrepreneurial Opportunity- PDF_2
INTRODUCTIONBusiness of mini digger must be evaluated in a better way so that success may beaccomplished in initial years. People's excavator will be launched in the UK which will providemini diggers which can be collapsed or separated and then re-joint when entering in privatehouses and suitable for gardens in houses for accomplishing work. This will help customers toattain maximum satisfaction as small type of digging work can be done with it. Moreover,company will be able to attain profits in initial stage. The market of construction will provide forfirm with increased profits. However, it will be required to implement well-defined strategies sothat market share can be garnered. The excavators market size is predicted to reach around $9.77billion by the end of 2025 which was $7.23 billion in 2017 (Mini excavators market. 2018). Thismeans that firm will be able to attain success as market is progressive in nature.MARKET ATTRACTIVENESSThe mini diggers are a part of excavator market. The size of market is expected to growto $8.43 billion worth by 2021. The investment in various infrastructure developments such asmanufacturing, power plants etc. will be injected up to a high extent. It can be analysed thatagriculture and markets of construction are the major users of mini diggers as they mainly use itfor attaining work with ease (Construction Statistics. 2017). Excavators are equipments whichconsists of undercarriage and house with a bucket attached to its arm. Heavy machineries andequipments are evolved because of technological advancement in recent years. It can be said thatbusiness will be able to provide small diggers at low prices to attain competitive advantage.Illustration 1: Excavators Market size Source: Industry Analysis Report, 2018 -20251
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