Viable Business Idea

Running Head: VIABLE BUSINESS IDEA
VIABLE BUSINESS IDEA
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VIABLE BUSINESS IDEA
Table of Contents
Executive summary....................................................................................................................2
Market gap.................................................................................................................................2
Benefits generated by the idea...................................................................................................2
Feasibility evaluation.................................................................................................................3
Service feasibility...................................................................................................................3
Target market feasibility.........................................................................................................3
Organizational feasibility.......................................................................................................3
Financial feasibility................................................................................................................3
The proposed business model....................................................................................................4
Critical success factors...............................................................................................................4
Conclusion..................................................................................................................................4
1. Appendix.............................................................................................................................5
The proposed business model canvas.....................................................................................5

VIABLE BUSINESS IDEA
Executive summary
In this article, we are going to come up with a business idea which is to be implemented in
the market with the expectation that it will succeed. In the zeal of ensuring that the idea is
workable and that it maneuvers in the market, considerations such as a gap in the market that
ought to be filled and benefits associated with the business idea were considered. After
brainstorming accompanied by thorough consideration of the necessary factors, we landed
into mechanizing the manufacture of charcoal briquettes from organic waste products such as
saw dust, banana peelings, among others. The main reason for choosing this business is
because it is not capital intensive, it produces cheap and high quality alternative fuel as well
as acting as an environmental cleaner. Some of the recommendations in this paper are
division of labor and specialization and employee motivation to improve performance and
consequently productivity.

VIABLE BUSINESS IDEA
Introduction
In the modern business environment, it is important to appreciate the fact that there are many
unseized business opportunities that could be turned into million earning premises. That calls
for brainstorming and opening business eyes to see and perceive what is happening around
the world and what is capable of being turned into a business idea. With the contemporary
changing world, business ideas sprout daily, giving fresh chances to contemporary investors
to bring together factors of production and seize the opportunities. The change in people’s
way of life, introduction of new gadgets, changing tastes and preferences of consumers as
well as change in price of some consumer goods gives a clue to an entrepreneur on a potential
business opportunity. Seizing the opportunity is usually accompanied by a thorough research
to ensure that if the opportunity is turned to a business it will record a positive impact to its
owner and the society it is established in. As a result, it is very critical to ensure that the
opportunity to be turned into a business fills an entrepreneurial gap that has been left out
open. In consideration of such factors, mechanization of charcoal production using organic
was arrived at as a viable business opportunity.
Market gap
Most of the households, if not all, use fuel daily, whether paraffin, wooden charcoal, cooking
gas etc. This fact provides a feasible business idea for an entrepreneur who is capable of
investing in the industry. A research carried out by (Clawi, 2018) on the nature of fuel
consumption by households shows that most of the fuels used are non-renewable and thus
capable of getting finished and or having hazardous effect to the environment. Another
research as carried out by (Martins, 2018) on the consumption level and the amount of
income spend on fuels for households shows that consumers are forced by circumstances to
unwillingly allocate a big budget to fuels for the purpose of cooking and heating in homes. It
is therefore due to this reason, that we saw it necessary to come up with a cheap alternative