Entrepreneurship and Feasibility Study for Royal Seeds Business

This report discusses entrepreneurship and feasibility study for Royal Seeds business. It covers the motivation behind the new business idea, the process of generating it, feasibility studies conducted, details of products and services, potential market opportunities, industry attractiveness, and the vision of the Royal Seeds business.

BM564 Enterprise and
Entrepreneurship

Table of content
 Introduction
 Main body
 Describing motivation behind choice of new business idea.
 Describing the process in order to generate new business idea.
 Explanation of feasibility studies conducted.
 Describing details of products to the customers.
 Potential market opportunities.
 Defining attractiveness of the industry.
 Vision of Royal seeds of business.
 Conclusion
 References

Introduction
The term entrepreneurship defines the
capability of an individual to discover new
sustainable business ideas with the main of
making long term profits. The main aim of
entrepreneurship is to give effective
solutions to the problems faced by
customers in the society

Describing motivation behind choice of new
business idea
The idea for starting new business plan
related to selling fresh and hand raised
seeds to health conscious customers is
driven by many factors. The first reason is
that future growth rate of healthy and
nutritious products will be high in the UK
market. Thus, there is the golden
opportunity for the entrepreneur to tap the
needs of those customers in effective
manner. Moreover, the growth in the use of
digital platforms such as Facebook,
Instagram etc. by many people is also one
of motivating factors for starting new
business through online mode.

Describing the process in order to generate
new business idea
The new business idea of selling fresh and
hand picked seeds has become possible
only after carefully gaining information
about current trends in the market. In the
food market, it has been recognised that
there are competitors who sells low quality
seeds in exchange of expensive prices.
Apart from this, it has also been understood
that customers are shifting their demands to
consume nutritious seeds with the aim of
improving their immunity levels. The data
driven approach was undertaken for
building the new business idea.

Explanation of feasibility studies conducted
 The feasibility studies is practised by the entrepreneur
in order to find out whether the new business plan is
practically realistic or not. This study supports the
owner to know whether the new project meets with the
needs of different aspects of proposed project such as
financial, legal, technical and environmental
considerations.

Describing details of the product and service
to be offered to customers
The Royal seeds will provide access to diverse range
of healthy as well as fresh seeds to the customers.
The nutritious seeds will support the well being of
customers leading to improved immunity towards
external virus and bacteria. The customers can use
these seeds as their daily snacks or can also merge
with another dishes. The new business company will
provide some exotic range of seeds which is briefly
explained below:
 Pumpkin seeds:
 Chia seeds:
 Amaranth seeds:
 Sunflower seeds:
 Flax-seeds:
 Sesame seeds:

Potential market opportunities
Potential market opportunities refers to the
projected potential size of the sales and
market. It means that the individual needs
to have an estimation that how many
businesses or consumers belong to the
target market and how much potential sales
could be made from the market. In context
to Royal Seeds, it is important for them to
evaluate about the market opportunities
into proper terms so that they can earn
large scale of revenue and profits as well.

Defining attractiveness of the industry
The food and beverage industry is predicted to growth about
1,724.4 billion dollars by 2028 with the estimated annual growth
rate of 5%. This data shows promising growth market for the
Royal seeds company in terms of more sales and profit. The
recent advancement in food processing technologies as well as
enhanced innovation in seeds incorporation are the major sign
which attracted the new firm to sell fresh and cost effective seeds
to potential customers. Apart from this, increase in the standards
of living of people in country has also enhanced health conscious
individuals at greater pace.

Vision of the Royal seeds business
The main vision of the company is to
become most environmental friendly firm
in the UK country. The firm will be
committed towards delivering superior
quality products without charging high
prices. In addition to this, the Royal seeds
organization will also adopt new
technology that will guarantee lowest
damage to natural environment.

Conclusion
From the above report, it has been analysed that
entrepreneurship is the critical skill in order to start a new
business plan after analysing demands of customer and
current market trends in effective manner. The report has
also evaluated that entrepreneurs are responsible towards
meeting new demands of customer in most effective
manner.

References
 Rauch, A. and Hulsink, W., 2021. Just one Damned
Thing After Another: Towards an Event-based
Perspective of Entrepreneurship. Entrepreneurship
Theory and Practice, p.10422587211061738.
 Bailey, R.C. and Lumpkin, G.T., 2021. Enacting
positive social change: A civic wealth creation
stakeholder engagement framework. Entrepreneurship
Theory and Practice, p.10422587211049745.
 Dai, Y., Byun, G. and Ding, F., 2019. The direct and
indirect impact of gender diversity in new venture teams
on innovation performance. Entrepreneurship Theory
and Practice, 43(3), pp.505-528.

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