CAZANA: Entrepreneurial Opportunities and Market Analysis Report

This report focuses on the entrepreneurial opportunities associated with the launch of "CAZANA," a new coffee hub in the UK. It begins with an introduction to entrepreneurship and the factors that contribute to success in the current market. The report then delves into the sources of entrepreneurial ideas, specifically for CAZANA, examining market trends and customer needs. A key component is the rationale and market gap analysis, identifying unique selling propositions like special weekend benefits and healthy food options. The report includes a gap analysis table to assess current and future states of the business. Competitive analysis is performed, followed by a primary research section which includes a questionnaire to gather customer feedback and analyze market potential through data interpretation. A SWOT analysis is conducted to evaluate strengths, weaknesses, opportunities, and threats. Finally, the report assesses the competitive and market environment to evaluate the potential viability of CAZANA, culminating in a conclusion summarizing the findings and recommendations.

Identifying
Entrepreneurial
Opportunities

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Different sources of entrepreneurial ideas and innovation................................................1
TASK2.............................................................................................................................................2
P2 Rationale and Market gap for specific entrepreneurial idea.............................................2
TASK 3............................................................................................................................................3
P3 Gap analysis in the evaluation of entrepreneurial idea.....................................................3
P4 Interpretation of data to provide evidence of market potential.........................................5
Theme 1: Services provided by “CAZANA”.........................................................................5
TASK 4..........................................................................................................................................10
P5 SWOT Analysis to assess the entrepreneurial idea.........................................................10
P6 Evaluation of competitive and market environment to evaluate potential viabilities.....11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
In the present business scenario, Entrepreneurs are defined as the responsible individual
who found, introduced, promote, maintain and regulate a new business by taking several risks in
order to gain success (Audretsch, 2012). To be a successful entrepreneur of current time, it is
very important to examine competitive, current trends of market and properly put all efforts and
abilities accordingly to cope with changes. In current era, government in every country provides
sufficient funds that help entrepreneur to establish new innovative that support in increasing
employment level in country and fulfil the needs of common people.
This report is based on a new business venture named “CAZANA” the refreshment hub
which is going to set up in UK. The entrepreneur has decided to have unique and different
variety of coffee with additional and special benefits on weekends for customer that will draw
their interest. In this project, source of ideas and gap analysis with the help of SWOT are
included to launch this venture in successful way. Apart this report also covers evaluation of
competitive and market environment to launch business ideas.
TASK 1
P1 Different sources of entrepreneurial ideas and innovation
Over the year, different entrepreneur comes with new and effective business idea in order
to help the common people by giving the best suitable services. Business thoughts are depended
on the way an individual think and their internal condition. A portion of these business thoughts
exude from examination of market and customer needs, while others release from a long research
process. There are several ideas for doing business that could be taken from assorted kind of
sources. Some of these are described underneath in descriptive manner:
Mass Media: This source of gathering ideas basically includes authentic and relevant
information from magazines, television, radio, newspapers, internet etc. An Entrepreneur in
order to launch a new business firms are needed to check all kind of commercial and other
advertisements published or forecasted for different source that support to find best and attractive
idea for running business. Thus these sources could be beneficial for entrepreneur of
“CAZANA” to understand the customer preferences taste, latest fashion that will aid in
managing and running business in profitable manner.
1

Trade fairs and exhibitions: With the help of this events entrepreneur are able to
develop a business idea in most formative manner. So the entrepreneur of respective restaurant
can attain different trade fair and exhibition held in different part of UK. This would be helpful
in meeting successful, retailer, producer, sales persons and distributors that will provide proper
pathways of running small business in most suitable manner
Customer surveys: The very first base to establish any kind of business is to consider
costumer needs and requirements so that goods are produced accordingly and provide to them in
order to gain profitability for newly developed business (Hansen and Shrader, 2016). Customer
survey aid businessperson to conduct a complete analyses and discover valuable ideas to run
their business. In the formative process of introducing “CAZANA” several practice of formal
and informal questionnaire has been conducted, various types of interviews taken from customer
so taste for coffee can be developed to fulfil their requirements.
All these events and sources of generating idea are beneficial to start new business in
specific time frame. As government of UK are providing large number of facilities to these new
start-ups as they help in increasing rate of employment and bringing stability within economy.
Therefore, it is significant for new entrepreneur to examine numerous big opportunities available
in market and take advantages so that their business can grow in positive manner and sustain for
long in competitive environment.
TASK2
P2 Rationale and Market gap for specific entrepreneurial idea
The entrepreneur has developed new business ideas of launching a unique and different
business idea that is to launch a coffee hub for local customer and tourist. “CAZANA” is going
to provide different variety of coffee to addicted customer and gives them additional benefits in
special days like on weekends, festival or even n birthdays or personal events. In order to satisfy
the emerging needs of customer entrepreneur have decided to provide healthy fast food meals
facilities on special days so that customer can get everything under single roof. By analysing the
current market situation business person get knowledge about healthy drinks are also preferred
by customer so they expand their product portfolio and had added variety of healthy coffee to
their menu list. Apart this they have focus to bring more attractiveness in its interior part as
entrepreneur have organised well sitting plan like low seats for old age customer and a special
2

kid’s zone that will draw attention of parents. Thus it is central for businessperson to assess real
behaviour of clients that support to gain more competitive advantage in United Kingdom. Market
Gap is a well organised opportunity that aid to properly analyses market gap that are relevant to
specific good and services that is totally new in market. So the thought of providing Low seats
and special kids zone would be something very unique service provided by any café in UK. This
will effectively satisfy emerging requirements of customers in extraordinary manner. Stated
underneath is the crucial concept of market gap that are discussed in detailed manner:
Technological advancements: In present era, the technology is ruling in each aspect and
took an important position in individual’s life. Therefore it is essential for an entrepreneur to
have a close look on the changing trends in technology and be updated to meet with these
changes. They must have proper knowledge about the use of latest emerging tools and
techniques so that possible updating can be done in business activities to provide it immense
height (Park, 2017). By taking advantage of different types of technological measures
entrepreneur can effectively launch their new business venture.
Identification of opportunities: In context to obtain better advantages within existing
market it is vital for a business person to determine the present possibilities of growing business
in meaningful manner. It will give advantage for them to fill any type of market gaps in best
suitable innovative way. Deliver better services to customer as compare to any of their
competitors.
The above discussed market gap analysis features would help entrepreneur of
“CAZANA” to effectively analyse the current market trends and develop strategies accordingly
to gain profitability by attracting more and more number of customer.
3

Gap Analysis Table
Objective Current
state
Future
state
Gap
Identification
Gap
Description
Factors Remedial
Action
To maximize
the annual
revenue
5
Million
/
annum
13 million/
annum by
next three
years
Yes 8 million/
annum is the
difference
Sales
personnel
are not
proficient
with latest
tool
To review
and training
based on the
same
Update the
order
processing
software
To earn 20%
profitability on
sales
Averag
e 20 %
on
sales
Average
22% on
sales
Yes 2 % per
annum on
sales
Food quality
and service
delivery
does not
much
effective
To provide
training to
the staff in
order to
enhance
food quality
and service
delivery
Staff morale Lack of
Staff
morale
at work
place
The morale
of Staff
can be
enhanced
Yes Lack of
clarity in HR
policy
Outdated
HR Manual
To update
the HR
manual in
sync with
current
environs
4

TASK 3
P3 Gap analysis in the evaluation of entrepreneurial idea
COMPITITIVE ANALYSIS
BASIS CAZANA The Family Bean Cafe
Products and
Services
Offer variety range of
coffee, healthy drinks and
other food items on
special. In addition to this
delighted environment
where kids can play and
old age customer can
easily relaxed.
Respective company
provide different types
of coffee with
additional activity
rooms and have
additional services for
different age groups.
Major
Attractions
Entrepreneurs have
adopted consumer centric
method and provide decent
environment to their
customers in order to make
them loyal and fulfil their
requirements.
The family cafe offers
numerous ranges of
food, mock tails
beverages and other
drinks to customer and
offer supple working
environment to their
staff.
Primary research:
This kind of methodology help in collecting and organising data in direct manner rather
than taking the evidence from subordinate source. There are frequent events such as, interviews
questionnaire and survey with the aid of which an entrepreneur are able to attain the business
objective. Through this method of primary research business person of “CAZANA” could collect
correct and authentic data and out the same in respective business idea to gain advantage.
QUESTIONNAIRE
NAME:
5

AGE:
ADD:
GENDER:
EMAIL ID:
Q1) You know about the unique services offered by “CAZANA”?
 Yes
 No
Q2) What you personally needs within a café?
 Hygienic and Healthy Eating Environment
 Facilities for children
 Additional services
 Discounts and complementary hospitality passes
Q3) Are You agrees with the pricing policies of “CAZANA” according to the services and
coffee quality?
 Yes
 No
Q4) Are you satisfied with the variety of food items provided by café on weekends?
 Yes
 No
Q5) Provide your valuable feedback and suggestion for better improvement?
P4 Interpretation of data to provide evidence of market potential
Theme 1: Services provided by “CAZANA”
Q1) You know about the unique services offered by “CAZANA”? Frequency
a) Yes 30
b) No 10
6

Interpretation: According to above graph, it has been assessed large numbers of audience are
aware about the services provided by CAZANA and they are satisfied by the same. In case if
entrepreneur is planning to promote their business in advance manner they can make a good use
of social media.
Theme 1:
Central Tendency Data
Mean 23.5
Median 23.5
Mode 13
Standard Deviation 9.19
7

Theme 2: Facilities offered
Q 2) What you personally needs within a café? Frequency
 Hygienic and Healthy Eating Environment 9
 Facilities for children 12
 Additional services 13
 Discounts and complementary hospitality passes 6
Interpretation: The above graph denotes that customer shows more of their interest to get
additional services on weekends followed by hygiene and healthy eating environment. It is also
observed that people are not in a favour to get more discounts if they are getting best food at
suitable prices.
Theme 2:
Central Tendency Data
Mean 10
Median 10
Mode 3
Standard Deviation 3.16
8

Theme 3: Price Range
Q3) Are You agrees with the pricing policies of “CAZANA” according to the
services and coffee quality?
Frequency
a) Yes 35
b) No 5
Interpretation: From the above graph, 35 out of 40 customers’ belief that prices of food items
and coffee offered by CAZANA are affordable and they are satisfied by quality also. This will
benefit in increasing overall base of customers and improve profitability.
Theme 3:
Central Tendency Data
Mean 20
Median 20
Mode 0
Standard Deviation 1.21
9