Entrepreneurship Project: Analysis of Bright Blue Advertising Firm

This entrepreneurship project presents a detailed business plan for the Bright Blue advertising firm, which aims to connect advertising companies with young professionals and students willing to rent their spaces for advertisement shoots in the UK market. The project includes an executive summary, problem and opportunity analysis, market and competitor analysis, proposed solutions, business model, pricing strategy, and financial projections. It addresses the challenges advertising firms face in finding cost-effective locations and the financial constraints of young professionals. The report outlines the firm's objectives, analyzes the competitive landscape, proposes funding strategies (venture capital and crowdfunding), and provides detailed financial forecasts including liabilities, assets, break-even sales, and cumulative income, offering a comprehensive overview of the firm's potential for success.

Running head: ENTREPRENEURSHIP PROJECT
ENTREPRENEURSHIP PROJECT
Name of the Student
Name of the University
Author Note

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Table of Contents
Executive Summary.........................................................................................................................2
Discussion........................................................................................................................................5
A full description of the entrepreneurship research activities.........................................................5
a. Problem and Opportunity Landscape...................................................................................5
b. Problem that the venture seeks to solve................................................................................6
c. Existing landscape of solutions............................................................................................7
d. Stakeholder mapping...............................................................................................................8
Solution..........................................................................................................................................10
a. Idea or technology proposed...............................................................................................10
b. Business Model for product/service delivery.....................................................................12
c. Market analysis and Segment structure..............................................................................13
d. Pricing model......................................................................................................................16
e. Competitor analysis............................................................................................................18
f. Portfolio (Product / Service) analysis.................................................................................19
g. Funding...............................................................................................................................20
h. Financial analysis................................................................................................................22
Conclusions....................................................................................................................................39
Recommendations..........................................................................................................................44
References......................................................................................................................................46
Appendix........................................................................................................................................49

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Executive Summary
The business environment is full of dynamic opportunities for the different businesses and
the different customers alike and hence, the process of entrepreneurship can be understood to be
an opportunity which can be undertaken by the different managers in an organization in order to
see to it that, they can convert this into a business opportunity. The particular report presents a
business entrepreneurial opportunity which will go a long way in assisting the different investors
to understand the overall business as present and to decide whether the business is viable in
nature or not.
a. Entrepreneurial Project Objectives
The different entrepreneur opportunities can be stated to be as follows:
 To present a business opportunity which can be utilised by the business investors and can
be made use of.
 To analyse the United Kingdom market and to figure out whether the market will be
appropriate for this or not
 To identify the different strategies, pricing policies, information on the market and other
relevant information with respect to the operations of the Bright blue firm.
 To predict the future operations of the firm in the long run and to identify the sales and
other recommendations which are required to be undertaken.
b. Problem/Opportunities Statement
As advertising has become considerably popular, it is important for the firm to undertake
considerable efforts and ensure that it is successfully able to make the customers aware. Hence,
in line of this, the location of the advertisements has a crucial role to play and for this reason, the

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different firms would be required to take steps which would assist them in achieving their overall
targets. Hence, there exists a dearth of viable locations which can be adopted by the firms to send
their advertisement and moreover, there also tends to exist a dearth of adequate locations. This is
the problem which lies in the environment and in line of this, the Bright Blue firm aims to
resolve this issue by ensuring that it is providing an opportunity to the young professionals as
present and allow them to undertake considerable measures which will enable them to rent out
their places and earn considerable money in return. Moreover, the different location requirements
of the different customers will also be met with accordingly.
c. Market/ Industry Summary
The market which has been chosen for the purpose of expansion can be stated to be the
United Kingdom market. This means that, as the number of universities as present in the United
Kingdom is considerably high, the student intake has also increased accordingly by 3.6% in the
last financial year and therefore the place will be appropriate for the business to expand its
operations into.
d. Competitor Summary
The different competitors of the firm can be stated to be the different set and studios
which provide the appropriate location to the different companies in order to enable them to
shoot their different advertisements. In addition to this, the competition may also be the
individuals who are directly willing to rent their places in advance. However, the particular
concept can be stated to be highly unique in nature and it is for tis, that it will be able to maintain
a sustained competitive advantage.
e. Funding and Financial projection Summary

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In order to fund the overall business, it was decided that the medium of venture capitalist
and the crowd funding will be made use of. There are a large number of venture capitalists as
available in the United Kingdom and additionally, it was also understood that the crowd funding
can also be taken to be a serious operation. The financial projections made for the firm can be
stated to be as follows:
 Total liabilities including equity of owners in the first year: £1,860,250 Total assets of the company in the first year: £20,636,622
 Break even sales: £69,128.60
 Cumulative income for the first year: £13,979,651

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Discussion
A full description of the entrepreneurship research activities
a. Problem and Opportunity Landscape
Advertising has become one of the most popular promotional acts which are used in order
to ensure that the firm is successfully able to gain awareness amongst the different customers as
present and in addition to this, they are also able to ensure that the firm`s overall revenue
increases considerably. However, the expenditures incurred in the medium of Advertising can
be considered to be extremely high for the firm as they are required to set up various sets, visit
studios and other related hotels in order to set up the scene for the advertisement to be shot.
More often, these advertisements often turn out to be unrealistic in nature with the shots either
being insufficient or being too expensive or dreamy (Baumol 1968). Hence, the advertising
companies often look out for different opportunities to rent houses and other such facilities
where they will be able to advertise easily and ensure that they are successfully being able to
engage in successful completion of their endeavours. Hence, it is for this reason that the Bright
Blue advertisement firm has been formed as it aims to look out for an opportunity to rent the
flats of the young professionals and the students as present in the local cities and towns. In this
manner, they will be able to gain apartments for the shoot for a few days and additionally, the
different students as well as the young professionals will also be able to earn a considerable
income in lieu of renting their apartment for the purpose of the rent which will be paid by them.
The young professionals as present in these countries, often find it considerably difficult to
look out for opportunity to meet their ends (Meyer, Neck and Meeks 2017). The young students
are already functioning on loans and it is with respect to this, that it often makes it difficult for
them to pay for their daily expenses and it is with respect to this that they often have to work
overtime and look out for job opportunities in addition to studying full time. This makes life

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very difficult for them and hence, in line of this, it can be rightfully mentioned that, the Bright
Blue Advertising firm aims to bring these students to them and enlist their flats for advertising
shoots. Through this, they will be able to ensure that, they are successfully able to meet their
daily needs and also be able to earn some money. The flats on rents are only required for a few
days or sometimes even few hours. Hence, the students may not find it difficult to manage their
shift time and hence, give out their apartments for rent. Once they are able to do this, the shoots
will be completed and in line of this, the overall objective of the company which can be stated to
be completing the shoots shall also be met with.
b. Problem that the venture seeks to solve
A good business venture can be rightfully described as an idea which enables the firm to
resolve an existing problem as present in the market. However, very often it becomes very
difficult to deal with these problems as present and in line of this, it also becomes considerably
difficult for the solution to be viable in nature. However, the Bright Blue advertising company
aims to resolve two problems as present in the business landscape. The problems which are
present in the society can be stated to be as follows:
 The different advertising firms often find it difficult to find an adequate location for their
different advertisements which are to be released. For the purpose of their advertisement
success, they often shoot their advertisements in the hotels or some sets which are present
which makes it considerably difficult for them to meet their overall needs. This is
because, the avenue of advertising and promotion is very expensive (Parker 2018). In
addition to this, while shooting for the different advertising, the companies are required
to ensure that they are being able to gain the correct legislative rights as well as the laws
which are present from the hotel or the set. This further requires another set of financial

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requirements which often turns out to be considerably expensive for the firm. Hence, it is
for this reason that the different firms look out for different houses and rooms to shoot
their advertisement but this is not possible for the different families as staying in the
country as it makes it difficult for them to find another place to stay while the shoots take
place (Kuratko 2016). Therefore, the generation of students and the young professionals
will be targeted which will go a long way in assisting them to ensure that they are
successfully able to attain their overall objectives and be able to provide them with a
place where they will be successfully shoot.
 The young professionals and students as present in the foreign countries often find it very
difficult to meet their needs as their education is very expensive and it makes it difficult
for them to meet their needs and to find adequate mine which will help them to fund their
overall education as well. Therefore, the Bright blue advertising firm is providing them
with an opportunity to earn some quick money by simply lending their house for a short
period of time. In this manner, they will success fully be able to earn money out of their
houses as well and enjoy the extra money as earned by them.
c. Existing landscape of solutions
As the firm aims to resolve the problem of finding the appropriate location for their
advertisement ventures, it becomes very difficult for them to ensure that, they will successfully
be able to find the appropriate location, however, the given set of solutions will be as follows:
d. Renting landscapes and sets: The advertisement company will be able to gain success by
renting various sets and landscapes in order to fulfill their requirement. However, it is
important to understand that, these sets turn out to be considerably expensive for the firm
as they have to be designed from the scratch and in addition to this, the different sets are

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required to be then demolished which makes it considerably difficult for the different
firms to meet their requirements and work according to the set budget as available.
e. Renting hotels: Another avenue which is required to be chosen by the firm can be stated
to be relating to renting various lodge and hotels (Kirzner 2015). However, the
advertisement firms are required to pay a large amount of money for their payment of the
hotel rooms and additionally, they will also be required to see to it that, they are able to
gain the right kind of permission in order to shoot the different advertisements as
possible. However, this opportunity turns out to be very expensive for the firm as they are
unable to afford the expenses which makes it difficult for the different organizations to
survive.
Hence, it is for this purpose, that the particular recommendations will be made. In a
similar manner, the organization will be successfully able to engage into the purpose of
advertising and find adequate locations. Moreover, the young professionals as well as the
different students will also be able to achieve their overall expense redemption as they will be
able to gain quick cash for themselves.
d. Stakeholder mapping
The stakeholder mapping can be rightfully defined as the process with the help of which
a discussion, research or a debate is drawn with respect to the different sources and aims which
helps in understanding the exact stakeholders of the businesses as present. The identification of
the different stakeholders is important as it helps in the identification of the different goals as
well as the objectives of the firm. Moreover, it also has to be understood that, when the
organization is successfully able to identify the right type of stakeholders, the satisfaction of their
overall stakeholders can be rightfully determined (Kirzner 2015). Additionally, it needs to be

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understood that it is for this procedure, that it is crucial for the firm to ensure that it is
successfully able to engage into the collaborative procedure and processes of discussion, debate,
research and other processes which will go a long way in ensuring that the firm is able to attain
success in each spectrum of the business. In addition to this, the mapping of the organization can
be easily carried down in the different phases. The phases can be described as follows:
 Identifying: This is the first stage, whereby the business would be required to research
and identify the different stakeholder groups which are present in the workplace and in
addition to this, they will also be able to identify which stakeholders should their business
be successfully able to cater the most.
 Analyzing: It is in the analysis stage that the interest of the stakeholder in an organization
is analysed and understood effectively, which helps in the process of grouping (Schaper
2016). In this manner, the different stakeholders will be successfully able to understand
the overall mapping which is required to be carried out and how the stakeholders will be
grouped accordingly (King and Levine 1993).
 Mapping: the mapping is the main procedure with the help of which the organization will
be successfully able to place the different stakeholders as present in the different grids. In
line of this, the Bright Blue company would then be required to ensure that, they are
successfully able to map the right stakeholders in the right sections which will then go a
long way in helping them to attain long term success with respect to the same.
 Prioritizing: The procedure of prioritizing can be known to be a process with the help of
which, the firm will be able to look out for the best stakeholders functioning in the
organization and pride due importance to the different stakeholders as present in the
workplace.

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Figure 1: The Stakeholder Mapping
For the Blue bright company, the clients as present and the different individuals as
providing the rent will be the most important stakeholders who will help them to attain their
goals. Moreover, the other business partners as well as the government form the next set of
crucial stakeholders which the firm aims to cater to. Hence, the Bright Blue advertising firm
would be required to ensure that they are able to take consistent steps which will help them in
ensuring that, all the stakeholders needs will be met with and in addition to this, the overall
mission and vision of the business will be attained accordingly.
Solution
a. Idea or technology proposed
The idea which has been rightfully proposed for the purpose of the business can be stated
to be related to the idea in regard to renting out of homes and rooms from young professionals
and students. This means that, this idea will run on an application and a website whereby the
different professionals as well as the young students, would be essentially required to register

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themselves and in line of this, they will also be required to ensure that, they upload the different
pictures as well as images which will enable them to understand the kind of location they have to
offer (Shapero and Sokol 1982). In line of this, it can also be understood that, in order to ensure
success in the long run, the important information regarding the location to be offered or the
price to be given shall be given in the website. The terms and conditions of this offering can be
stated to be discussed overtime whereby both the parties will be essentially be able to ensure that
they are being able to earn a considerable amount. The entire procedure will run on the given
mechanism as given in the section below:
 The Bright Blue advertising firm will undertake the tender of respective customers who
will be required to state down the different locations which they have to offer and in
addition to this, they will also be required to state down the details of the house and the
fact that there would not take place any issues, which will cause and act as a barrier for
the different facets of the firm (King and Levine 1993).
 Moreover, the firm would then make these uploads of houses available to the different
advertising firms which will then enable them to ensure that they are successfully able
to choose between the different locations as present for them. Once they are able to do
so then, they will be eligible for renting out their place to the advertising firms.
 Any firms who will be interested in investing a considerable amount of money in the
firm, would be required to ensure that, they are successfully able to contact the
advertising company and in line of this, they are also able to ensure that they are being
able to get the lowest price possible for the best place.
 After the shoot takes place at the designated conditions and terms then, the individual,
whose house is being rented will be paid as per the discussion earlier.