Entrepreneurship: Opportunity Analysis Report - Abu Dhabi Garage

This report presents an opportunity analysis for developing a car garage in Abu Dhabi, addressing the shortage of parking facilities. The report covers various aspects, including the business concept, market analysis, customer development, competition, and business model. The author identifies the potential for parking, repair, and event-holding services, highlighting the low market competition but acknowledging challenges such as competition from an existing garage and potential initial low-profit margins. The report outlines the brainstorming process, market survey, and idea generation that led to the business concept, emphasizing the need to address traffic jams and the increasing number of vehicles. It also discusses the approach to innovation, limitations, market attractiveness, customer needs, and the competitive landscape. The report further delves into the business model, lean startup philosophy, learning, and adaptation strategies, including SWOT analysis and market research to ensure the business operates with sensitivity to market factors and enhances growth.

Running head: OPPORTUNITY ANALYSIS 1
Opportunity Analysis
Student’s Name
Institutional Affiliation

OPPORTUNITY ANALYSIS 2
1. Concept and Visions (10%)
The theme of this report is to present an opportunity for developing a car garage in Abu Dhabi.
The place has been identified with a shortage of the car parking facilities. The garage will
provide parking, repairing and events-holding services. The opportunity is promising since the
market competition is low as there is only one garage in the market – plaza. However, winning
the customers’ faith over the already existing plaza garage may pose a challenge. The profit
margin may also be low at the start of the business which may necessitate investing more capital
to maintain the services. The ability to maintain competitive edge in the market enables a
company enhances sustainability, growth, and development. A strong position in the market
makes a company realize its goal of improving profitability.
2. Generating Knowledge and Awareness (10%)
The idea of investing in a garage came up through a brainstorming process which initiated me to
think of the business. I also carried out a survey of the market whereby I realized that there exist
acute traffic jams in the market as the vehicles line up to get a parking space in the Plaza garage.
This led me to talk to some potential customers who after selling my idea to them showed an
interest in having an alternative garage facility (In Allen-Meares, 2017). Some said that having a
garage near the malls will be advantageous. They also showed interest in having a garage that
will offer the repairing services.
3. Generating Ideas (10%)
The brainstorming technique was a great approach to formulating the concept. I came up with
several ideas which when I analyzed them, placed the garage setting idea on the top of the list
(Coyne & Coyne, 2011). I also identified the need to fill the gap in the garage facilities in the
market. The plaza garage alone was not sufficient to facilitate the garage services considering
the many cars in the UAE market. The increasing number of vehicles presented the parking
problem which gave me the idea to grab such an opportunity. The traffic jams caused by the
unavailability of other parking facilities slowed down the business operations in the market and
this gave me the business opportunity.
4. Approach to Innovation (10%)

OPPORTUNITY ANALYSIS 3
I will establish the parking space and acquire the vehicle servicing machines. I anticipate to
reduce traffic jams and also overloading of the vehicles in the existing plaza parking. I will use
the disruptive innovation whereby the business will be creating a new market with various
facilities (Keeley, 2013). This will pose a challenge to the existing industry.
5. Limitations (10%)
Despite being a great opportunity to invest, the business may have some limitations such as
facing stiff competition from the plaza garage which has already established itself hence winning
the customers’ interests may be difficult. The customers are also used to the plaza parking and it
may take time for them to get used to the private one and its trends and this will mean losses to
the business (Girotra & Netessine, 2014). The rules for leasing may also be complicated which

OPPORTUNITY ANALYSIS 2
may cost the idea a great deal of money and time before it gets implemented. The business may
also risk having the taxes raised for the commercial area.
6. Market Analysis. (10%)
The business idea addresses the transport sector of and the market is attractive since the number
of vehicles entering the market is increasing which facilitates the need for more garage facilities.
Innovating in this business will also ease the overall business operations in the market since
parking facilities will be made faster hence clearing traffic jams. A research on the causes and
effects of the traffic jams on the business operations can be done to relate this market need. Only
one industry – plaza garage has been offering garage services to the market in the past three
years. The industry anticipates to adopt the customer-centered approach and increase profitability
by re-evaluating the business objectives. Having an increasing number of vehicles with only one
garage industry illustrates the business opportunity. The industry is deemed to earn a
considerable market share of about 80% as it has less distance from the malls.
7. Customers and Customer Development. (10%)
Most of the clients present a need for repair services so that as they park and go for other
activities, they find their vehicles repaired as they come back to save on time. The less distance
from the malls will also be beneficial especially if they have to carry some shopping to the
vehicle. The customers use the plaza parking which is the only garage on the market. The
customers are willing to use the facilities since it will solve most of the garage problems. I will
use advertising approaches such as using the billboards to reach out to customers. Approaching
the customers as they drive slowly in the jams is also another way to reach them. The use of
proper language when dealing with customers makes them form a desire to the purchase the
product on sale.
8. Competition and Positioning. (10%)
Plaza garage provides these services currently and VIP car parking providers may innovate in
this business in the future. They have a good public image which serves as an advantage to them.
However, the long distance from the malls presents a challenge to them. Plaza garage serves
about 70% of the market while the VIP car parking serves 20% of the market. The sales of the

OPPORTUNITY ANALYSIS 3
competitors are steady and the probability of having the property rent contract violated may
become a barrier to the entry of my business. Other competitors may be barred from entering the
market by the increased taxes of the commercial areas (Boynton et al, 2011). My allies may help
me through spreading the information of the new garage to other people so as to win more
customers.
9. Business Model and Lean Startup Philosophy. (10%)
I will begin by acquiring the necessary licenses for my business and establish the facility. By
offering fast and efficient services to win the customers’ trust will be my way to earn money.
Approaching individual customers to test my services will also earn me money. The venture may
start earning profits immediately after gaining the customers’ trust over the competitors. Making
losses at the beginning is the greatest challenge that I will have to deal with. Further, the
acquisition of intellectual property rights will be critical so that no competitor can use our
services for their benefit.
10. Learning and Adaptation (10%)
In order to come up with a viable business idea, there is a need to do a thorough market research
and do a SWOT analysis. Some challenges may pose concerning the idea, but having a
brainstorming and strong innovative skills will overcome the fears. The idea of innovating in the
garage industry is a true opportunity. A proper SWOT analysis ensures that the business is
operating with accurate sensitivity on the market factors in order to enhance growth. Through
SWOT, the threats a business is exposed to are tracked and the development of the right
strategies to curb the same achieved hence improved performance by a business.

OPPORTUNITY ANALYSIS 2
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