Analysis of Entrepreneurship Development and Feasibility

This assignment provides an in-depth analysis of entrepreneurship development and feasibility. It includes a review of relevant literature and studies on entrepreneurship development, highlighting the importance of entrepreneurship for economic growth and job creation. The assignment also explores the challenges and limitations faced by entrepreneurs, particularly in rural areas and among women. A summary of the key findings and recommendations is provided at the end.

Entrepreneurship
Development

Table of Contents
SECTION 1: INTRODUCTION.....................................................................................................3
Proposed Development...........................................................................................................3
SECTION 2: OPPORTUNITY FORMATION...............................................................................4
Perceived Uniqueness of Product ..........................................................................................4
SECTION 3: OPPORTUNITY DEVELOPMENT.........................................................................5
Business Canvas Model..........................................................................................................5
SWOT analysis.......................................................................................................................8
SECTION 4: CONCLUSION..........................................................................................................9
REFERENCES..............................................................................................................................11

SECTION 1: INTRODUCTION
Entrepreneurship development is the process that helps in enhancing the skills and
knowledge of the entrepreneurs in effective manner. The skills are enhanced with the help of
training and classroom programs. An entrepreneur can be defined as a person who is willing to
take risks to establish a new business venture in the market. After a brief analysis of the UK
market and the nature of the consumers the entrepreneur has planned a business idea to launch a
bakery business in Mayfair London. The name of the business will be Delicio Patisserie. The
main purpose behind this business idea is to provide a quality experience to the people and to
fulfil their demands of the bakery products as well (Biryukov and et. al., 2015). The business will
also focus on providing gluten free bakery products for the health conscious customers. Mayfair
is a very famous location in London where thousands of people visit in a day which will be a
great opportunity for the business venture to capture the large market share and gain profitability
in the market. In today's world businesses that provides quality services and also take care of
other needs of consumers have a great possibility of achieving success in the market.
Proposed Development
Being a business venture that will meet the bakery requirements of the consumers in the
London market, the business idea consists a wide scope for being a multinational organisation
with many outlets all over the UK. This business idea can be developed as a large scale bakery
venture and can facilitate people with high quality bakery items with exciting offers to give good
deals to the customers and to increase their overall experience with the business venture to attract
their loyalty towards the products in the market. It will result in business growth and will help in
expanding the Delicio Patisserie to different markets to capture a large market share. By
accelerating the scale of business operations, this business project has the possibility to hold
large number of customers on a regular basis by mode of concentrating on the quality of the
bakery items provided (Parvin, Jinrong and Rahman, 2012). This will help the business venture
in increasing popularity by publicity through those consumers which are well satisfied with the
bakery items provided to them and further want their family members and friends to gain the
same experience. By focusing on increasing the experiences traced by the customers and
building healthy relation with them by the help of amiable staff, this business idea has a
possibility to intensify the sales and profits by the help of carrying effective business operations

within a time period of 1 year from launch. By incorporating bakery items of different cultures
this business will guarantee a high brand name and position in the market by accomplishing the
needs of the customers (Camp, 2015). Further, by making a well-structured marketing strategy
and the strategic management plan, business venture can easily increase speedy growth, provided
that these strategies and planning achieve the desired results within the specific period of time.
SECTION 2: OPPORTUNITY FORMATION
The business idea of launching the new bakery in market has been formulated by the
Marketing Leader of Delicio Patisserie bakery after conducting a brief research of marketplace
as well as needs and preferences of the population of UK. This idea has been derived from the
analysis of shops and various brands already carrying out their business in the market. It resulted
in gaining the outcome that these business are providing their products and services on a higher
cost and the customers can not afford it easily (Oyelola and et. al., 2013). By keeping this factor
in mind the entrepreneur has prepared the idea of launching a bakery shop. The venture will
provide good quality pastries and gluten free bakery items to the customers at nominal prices
will attract the customers and will increase the brand image in positive way in the market. It will
lead in giving great experience to the customers.
Perceived Uniqueness of Product
The uniqueness of the business idea lies in the provisions of the products of the bakery
items with gluten free and good quality pastries of different flavours. The gluten free bakery
products will eventually help the customers in London suffering from medical issues like
obesity, diabetes and to the health conscious ones too. This business idea is proposed with the
purpose of covering all the market segments effectively and leaving no one untouched from the
great experience the Delicio Patisserie is providing. The uniqueness of the business venture is the
products and services they supply to their customers and distinguishes it from the other already
presented in the market (Fortunato, and Alter, 2015). The business idea of opening a bakery in
the market of UK at the nominal prices is one of the USP of this business venture and will help
in attracting a large customer base. The uniqueness of the business venture can be further
increased by improving the quality in more effective manner and by introducing some value
added services that will help in building a loyal customer base and will result in increasing the
profitability of the venture for a longer period of time. It is required by the entrepreneur to ensure

that all the offerings of the bakery items are aligned according to the market environment and
customer needs and preferences effectively.
SECTION 3: OPPORTUNITY DEVELOPMENT
It is considered to be very important for the entrepreneur to adopt a very effective
business plan to make sure that the idea of opening bakery business can be constructed to a local
outlet in the market to a well established business venture. By developing the business idea to
grab the international market and carrying out the business operations to a global franchise, an
entrepreneur is required to ensure the success and growth of the Delicio Patisserie in the market
within the desired period of time. The importance linked by constructing the business idea to be
a international brand involves a well planned organisational structure, effective business design,
appropriate layout of the development plan and choosing a effective marketing strategies. To
carry out the development plan for this new business idea into a venture a lot of funds are
required by the entrepreneur to establish the business operations in effective manner. These
funds can be acquired from many different sources present in the market like banking
institutions, private lenders, finance companies, etc. constructing a suitable business strategy will
help the business venture in determining the overall product and service delivery of the Delicio
Patisserie. It will be essential to implement a number of alterations on the business venture plan.
It will lead to a well constructed business development plan of the bakery store as planned and
desired by the entrepreneur (Kansiime and et. al., 2018). In future when the business plan will
include different marketing tools and business tactics. These tactics will help in gaining attention
of the large customer base and will cater the needs and preferences of the customers in a
effective manner.
Business Canvas Model
The Marketing Leader of the proposed business venture named Delicio Patisserie bakery
has used Business Canvas Model to lay the structural plan of the proposed business idea.
Key partner
 There will be four
owners of this business
venture and all will
Key activities
 Provision of pastries,
bakery and
confectionery.
Value proposition
 Providing different
varieties of pastries and
gluten free bakery

have different
responsibilities in the
market.
 Gluten free items.
 Good quality pastries
with different flavours.
items are also
accessible for the
health conscious
customers.
Customer relationship
 Sample tasting will be
carried out with the
aim of creating a
positive impression on
the customer's.
 Lucky customer will
be rewarded with
different vouchers and
special offers.
Key resources
 Human resource
management
 Marketing teams
 Advertisement firms
 Print platform or media
Revenue stream
 Sales of bakery items,
 Providing special
pastries to the parties
and functions,
 Selling high quality
products with
consideration to health
as well.
Distribution channel
 Uninterrupted
marketing for the
comfort to the
customers.
 Social media
platforms.
 Mouth publicity.
Cost structure
 Initial investment will
be £50000.
 Other sources will be
preserved net income
and other sort of
expends etc.
Customer segment
 Middle class and upper
middle class customer
base will be targetted in
the first stage.
 The age group of 14-28
years of age will also
be considered.
The location selected to launch this business venture is the Mayfair, London which is a
very effluent location and is considered as the heart of the city. It is also a major hub for the
commercial business pertaining to the various sectors (Khazaeli and et. al., 2018). Thousands of
visitors come to Mayfair on a daily basis which will lead in creating a great opportunity for the
Delicio Patisserie to attract the large number of customer base. For turning the business venture
into a franchise an entrepreneur is required to assess the knowledge of the business environment
and construct effective strategies to gain success in the market and to take proper analysis of the

bakery industry (Nkechi, Emeh Ikechukwu and Okechukwu, 2012). Therefore, the Porter five
force model has been applied to gain the insight of this industry and develop a better
understanding of the market and the existing competitors.
Porter Five Force Analysis
This analysis will help the Marketing Leader of Delicio Patisserie in deciding the
mechanism of revenues and lucrativeness for the venture project so as to create strategies and
plan of actions in accordance with them:-
Threat of new entrants: This component describes the obstruction that a new entrant
has to deal with at the time of entering into the bakery industry. The obstacles to entry inside this
sector are very low which explains that the business venture can enter effectively. The
requirement of funds for entering the market is comparatively low and the economies of the scale
will also be advantageous (Kurowska-Pysz, 2016). In this context, Delicio Patisserie will provide
gluten free bakery items for the health conscious customers and confectionary items like
choclates and candies for other customer base. The business venture will also provide the best
qualites pastries with various flavours all these means that the venture will face less threat of the
new entrants.
Threat of substitutes: This unit mention to the habit of consumers to discover the
secondary products with same or cheap prices and equivalent in the quality and the product
which can be switched without any issue. The component that influence the buying behaviour of
the customer's are changing cost, easiness of replacement and product differentiation. It results as
a opportunity for the Delicio Patisserie as there are many bakery oulets in the market but no one
gives these gluten free items at nominal price and high quality pastries. The business venture has
a low threat of substitutes and it has the capability to easily last long in the competitive market
of UK. This will assist the company to face competition in effective manner and to capture the
large market share and earn high profits.
Rivalry among existing competitors: This aspect defines the competitiveness in the
bakery industry. The competition in this sector is considered to be high therefore, it is necessary
for the business venture to analyse the market effectively and gain knowledge of their rivals in
effective manner. The entrepreneur is required to understand the importance of the uniqueness of
their bakery items. The proper plans for the New Product Development is required to be made in

context of the strategies and items that are being offered by the competitors in the market like
Greggs Plc leading baker of UK.
Bargaining power of supplier: This mention the ability possessed by the suppliers of
companies within the bakery industry to offer products at prices of their assertion. In this sector,
the negotiation power of the suppliers is meant to be low having a well settled market for bakery
products (Leonidou and et. al., 2018). Thus far as the product offerings of this business venture
will be extremely specific and surpassing with the stipulation of goods at lower prices, Delicio
Patisserie has the capability to enhace the price of bakery items post the successful establishment
of the company in UK as the business venture has to procure raw mateirals which will lead in
providing gluten free items effectively.
Bargaining power of buyers: This element refers to the ability of the customers to take
the business venture into the pressure to demand the prices as per their conveinience. The buyers
in the bakery industry enjoy the high bargaining power as these items are avialable in the various
places like supermarkets, grocery stores, confectionery shops, etc. To hold on the switching of
products the delicio patisserie will provide the bakery items at nominal prices to the customers a
thte initial stage of the business venture (Naudé, 2014). Further, as the business venture will
provide good quality bakery itmes it result in creating a great opportunity for attaining the
customer base of helath conscious people in the market of london.
SWOT analysis
SWOT is conducted by the Marketing Leader of the proposed enterprise in order to
analyse the company strength, weakness, opportunities and threats which needs to be analysed
post the launch of Delicio Patisserie London.
Particular Explanation
Strength The major strength of Delicio Patisserie is going to be their idea of gluten
free bakery which will take into account of customers health and as the are
getting health conscious day by day. It will help the organisation to ensure
higher customer responses in terms d sale for the upcoming project cafe. As
the new concept will help the businesses to attracts a larger number of
audience (Movahedi and Yaghoubi-Farani, 2012). They can use there unique

selling proposition in order to gain higher brand loyalty. At the initial stage
business will sell there product at a lower price in order to build customer
loyalty.
Weaknesses The main weakness of the Delicio Patisserie is the already existing business
organisations in the segment. These can use their strong customer base in
order to defeat the upcoming bakery and cafe. They can use different
strategies in order to do so such as lowering prices. In order to market the
gluten free products company requires proper brand creation and it also
requires real combination of both bakery and cafe as well in the form of this
entity (Mohamed and et. al., 2012).
Opportunities The main opportunity which the company can use is providing quality
product and proper pricing provided at right point of time. This needs to
acquired by Delicio Patisserie whether they are surviving for long or not. For
Better evaluation of the product they can serve continuous evaluation of the
product or substitute products which can be done by brief market research of
the current market scenario of the industry.
Threats The major threat to the organisation is the rivals such as Greggs Plc which
exist in bakery segment. In order to compete with them the organisation
needs to design unique product and should focus on catering the needs and
preferences of the customers.
SECTION 4: CONCLUSION
On the ground of above discussion, it can be concluded that the development of business
ideas in to a well structured organization can take place only with the help of proper analysis of
the market and by gaining a effective knowledge of the current trends and techniques dogging
within the sector and also the purchasing behaviour of the customers. Also, it has been evaluated
that business canvas model is an efficacious strategic management and a lean start-up model that

lays out the construction of the projected business idea. It help in gaining a significance of the
overall business venture idea and the achievable path ways by which the development and
expansion of this enterprise on the international market can take place. Further more, it has been
discovered that a business idea can be practicably formulated into a international franchise only
when decent planning is done for changing the ideas into action. As well, it has been analysed
that a business venture can achieve speedy success and development in the market only when the
business operations of the undertaking are perpetually reviewed, monitored and also adjusted if
the demand is felt.
From the discussion done above and in accordance with the overall process of
entrepreneurial development, I have gained that essential and unique ideas and opinions can be
developed on the basis of constant market evaluation. In the group activity conducted for this
project, my part was related to marketing and for this, I carried out analysis and evaluation of
UK market. Also, I think a venture can be developed only when a creative idea emerges in the
mindset of an entrepreneur and he undertakes the steps as well as the initiatives to turn it into
reality. This entrepreneurial idea needs to possess the ability to develop solutions to social and
economic issues that are faced by people within a community. In this regard, the idea to launch
this bakery appeared in mindset post gaining knowledge of the consumer behaviour within UK
as being highly health conscious. Business canvas model, PESTLE analysis and SWOT analysis
have been carried out to gain knowledge about the feasibility of this venture. Post analysis of this
industry, it was evident that turning this idea into reality will yield positive outcomes for
entrepreneur.

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