Analysis of Entrepreneurial Opportunities: Detox Juice Bar

This assignment focuses on identifying and analyzing an entrepreneurial opportunity, specifically a Detox Juice Bar. It begins with an introduction to entrepreneurial concepts and the identification of opportunities. The core of the assignment involves a gap analysis, where current performance is compared to desired outcomes to identify areas for improvement. The student presents data gathered from both primary and secondary sources to evaluate the market potential of the Detox Juice Bar. The data is interpreted to provide evidence of market demand, covering themes like consumer preferences for detox drinks, preferred types of detox drinks, awareness of the Detox Juice Bar, spending habits on detox drinks, the perceived success of the bar in Wembley, the effectiveness of the drinks, key attracting features, customer satisfaction, and overall experience. The assignment concludes that entrepreneurs utilize various research methods to identify and evaluate business opportunities. The study uses primary research through questionnaires to collect information directly from respondents. The collected data is then presented and interpreted to assess market potential and consumer insights, which are crucial for the success of the Detox Juice Bar.

TASK 3
Identifying Entrepreneurial
Opportunities

Table of content
 Introduction
 Presentation of data for supporting gap analysis in evaluating particular
entrepreneurial idea.
 Interpretation of data in appropriate manner for providing evidence of
market potentials
 Conclusion
 References.

Introduction
Entrepreneurs are humans that initiate activities to start and manage a new
business with aim to generate huge benefits in terms of profits and
efficiency. Entrepreneurial opportunities are mentioned as circumstances
that assist people to analyse situations and manufacture products for
satisfying market needs.

Presentation of data for supporting gap analysis
in evaluating particular entrepreneurial idea.
Gap analysis is said to the procedure that helps in comparing current
performance to that of desired one. With this method, differences in
performances are defined and aspects are analysed related to whether
requirements of business are met or not. When entrepreneurs analyses that the
requirements are not met then they plans further steps to net then successfully.

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Interpretation of data in appropriate manner
for providing evidence of market potentials.
Detox Juice Bar is the new entrepreneurial idea that offers juices and drinks which
are made from detox ingredients. The main objective of the new idea is to satisfy
choices of population through providing them drinks and juices them helps in
improving immune system, boosting stamina and many more in order to gain
recognition in competing market. The entrepreneur collected data by using primary
as well as secondary sources so to evaluate the effectiveness and awareness about
the idea. The data are interpreted as per the collected market potentials.

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Theme 1: Understanding about preference of detox drinks.
Q1. Do you like detox beverage drinks? Freq
uenc
y
a) Yes 8
b) No 2
a. Yes b. No
0
1
2
3
4
5
6
7
8
8
2
Column B

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Theme 2: Type of detox drinks they prefers.
Q2. What type of detox drinks do you
prefer? Frequency
a) Detox smoothie 4
b) Detox Juices 3
c) Detox dandelion Tea 2
d) Organic smoothies 1
a. Detox smoothie
b. Detox Juices
c. Detox dandelion Tea
d. Organic smoothies
0
0.5
1
1.5
2
2.5
3
3.5
4
4
3
2
1
Column B

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Theme 3: Awareness about Detox Juice Bar.
Q3. Have you heard about Detox Juice
Bar? Frequen
cy
a) Yes 6
b) No 4
a. Yes b. No
0
1
2
3
4
5
6
6
4
Column B

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Theme 4: Spendings on Detox Drinks.
Q4. How often you make spending on
detox drinks? Frequency
a) Everyday 3
b) Occasionally 4
c) Once in a week 1
d) Once in a month 2
a. Everyday
b. Occasionally
c. Once in a week
d. Once in a month
0
0.5
1
1.5
2
2.5
3
3.5
4
3
4
1
2
Column B

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Theme 5: Success of Detox Juice bar in Wimbley.
Q5. Do you think that Detox Juice Bar
will attain success at Wembley? Freque
ncy
a) Yes 7
b) No 3
a. Yes b. No
0
1
2
3
4
5
6
7
7
3 Column B