Entrepreneurial Opportunities: UK Market, Mr. Happy Cafeteria Report

This report examines the entrepreneurial opportunities for Mr. Happy Cafeteria, a gaming-themed cafeteria concept in the UK market. The introduction defines entrepreneurship and highlights the role of innovation in the economy. Task 1 explores different sources of entrepreneurial ideas and innovation, including unexpected successes and failures, incongruities, process needs, industry changes, demographics, changes in perception, and new knowledge, all in the context of Mr. Happy Cafeteria's unique gaming theme. Task 2 focuses on the rationale and market gap for the entrepreneurial idea, emphasizing the importance of understanding customer behavior and conducting a gap analysis to identify areas for improvement. Task 3 provides a detailed gap analysis, comparing the current and desired conditions of the business, including services, products, costs, and innovation. The report also includes a primary research component using questionnaires to gather market data and a secondary research component using existing literature. The data is interpreted to provide evidence of the market, and a SWOT analysis (Task 4) is utilized to assess the strengths, weaknesses, opportunities, and threats associated with the business idea, along with an evaluation of the competitive and market environments. The report concludes with a summary of findings and provides references.

Identifying
Entrepreneurial
Opportunities

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Determination and evaluation of different sources of entrepreneurial ideas and innovation.
................................................................................................................................................3
TASK 2............................................................................................................................................5
P2 Introduction to business idea and their potential customer's.............................................5
TASK 3............................................................................................................................................5
P3 Gap analysis for evaluation of entrepreneurial ideas........................................................5
P4 Interpretation of data to provide evidence of market........................................................6
Task 4.............................................................................................................................................12
P5 SWOT framework to support an objective assessment of a specific entrepreneurial idea.12
P6 Evaluation of competitive and market environments in which the idea will be launched.13
CONCLUSION..............................................................................................................................17
REFERENCES..............................................................................................................................17

INTRODUCTION
Entrepreneur refers to an individual who identify requirement of market and works in
fulfilment of those needs. It has an effective role within economy. In other words, entrepreneur is
a person who can take risk to start new venture with innovative ideas in context to existing
products or services (Audretsch, 2012) . This report includes an entrepreneur who is having a
new idea i.e. “Mr. Happy cafeteria” which is theme based in market of United Kingdom. This
report will ascertain and assess sources of entrepreneurial innovation. Moreover market gap is
analysed by usage of appropriate techniques and tools. Furthermore, SWOT analysis is done to
analyse different factors to support entrepreneurial idea. Apart from this market environment is
evaluated to find out competitive marketplace.
TASK 1
P1 Determination and evaluation of different sources of entrepreneurial ideas and innovation.
In this era, entrepreneurs are looking forward for innovative ideas by which they can
establish themselves within competitive marketplace. Entrepreneur have their own position
within economy of country. They plays an effective role in simulation of ideas and innovations.
Ducker's sources of innovative opportunities have been used by entrepreneur so that new idea
can be evaluated. This has been explained below:
Unexpected success and failure: Innovations are unexpected as anything can come in
mind of individual at any time. Opportunities can be found within marketplace easily if
individual is creative. In this, entrepreneur needs to observe market where they want to establish
their product (Autio and et. al., 2018.). Furthermore, unexpected conditions can provide
individual with great ideas as they can motivate and inspire individuals to do good for economy.
Incongruities: Sometimes entrepreneur launch their product without evaluating target
market and target customers. It is essential for an entrepreneur to analyse their target customers
and evaluate their needs so that they can excel within competitive marketplace. For this, they
need to find out difficulties and different sources of enthusiasm related with innovation. Thus to
determine incongruities, entrepreneur must take reviews, complaints and feedback from
customers.
Process needs: In process need, individual must focus on task rather than on situations,.
Entrepreneur must study different sources of creativity and innovation by finding out weak links

and execute different strategies to enhance them. By this, entrepreneur can make knowledge so
that effective solutions to innovation can be build.
Industry and market structure change: Entrepreneur must analyse structure of
industry and market (Barazandeh and et. al., 2015). Individual must be focussed and observe all
those factors which can have impact on their ideas. Apart from this, they must consider these
threats as an opportunities.
Demographic: Idea of an entrepreneur gets affected by buying patterns or demographics
of customers within market. For this entrepreneur needs to analyse its target customers in terms
of their buying patterns so that they can meet requirements of customer's in new market.
Change in perception: To create a unique and effective awareness in minds of
customers, entrepreneur needs to come up with different idea in competitive market. For this
individual or an entrepreneur must build their unique identity with distinguishable services in
market of United Kingdom so that they can stay within market for longer interval of time.
New knowledge: In this context, entrepreneur must acquire knowledge in terms of
market, innovation and technologies used within market. Furthermore, this knowledge will help
entrepreneur to build and provide services or products which can help them to stay stable within
market by remaining competitive (Dimov, 2011).
These are the different sources of innovation which helps to obtain new intuition in
reference to growth of business. This will also lead to enhanced productivity within growing and
competitive market.
In present context, an entrepreneur is looking forward to come up within market with an
unique innovation i.e. theme based cafeteria into market of United Kingdom with a unique name
Mr. Happy. The focus of entrepreneur is to make people happy as its name suggest. Apart from
this, its a family cafeteria. Its theme is on gaming like its chairs are like a dice, table is in form
ludo, some are like chess. Moreover, walls are racing track. Everything present within cafeteria
is related to games. This is done so that people must be aware of different games which are
played world wide. Focus is on youngsters and kids who are future of country as if they see
something which attracts them, they go for searching that particular options in this case it will be
different games.
Entrepreneur is providing a innovative thought based on gaming theme. Idea of this
cafeteria is to provide their customers with enhanced services with pleasing environment. Games

theme includes different games like chairs are in form of dice, table provides layout of chess and
many more. Young generation is now more involved in playing games in their smart devices.
When they will see these games they come to know about different games. There is no
restrictions when individual becomes boss. Individual have their own responsibilities and goals
and for their accomplishment they can work from anywhere and any time. Motivation behind
launching a venture is flexibility and control. When individual becomes boss then they have a
call to all shots, from hiring to formulating strategies.
TASK 2
P2 Rationale and market gap for entrepreneurial idea.
Idea of entrepreneur was to launch a cafeteria. This cafe provides their customer with a
theme based space. The theme is of gaming means there all infrastructure is based on games like
there chairs are in a form of dice. It is essential for entrepreneur to acknowledge behaviour of
market and customer of UK. Gap analysis is done by an entrepreneur for introduction of new
concept or idea within a market. This will aid organisation in identifying whether they will meet
expected future performance in respect to their current performance. It is comparison between
their present performance with required business standards (Fuentes and et. al., 2010). This will
aid entrepreneur to define and refine their fresh innovation and idea to acquire a standard level of
performance. This will help new venture to enhance their growth and profit within market. By
this, entrepreneur will be able to analyse their competitors and their own business in terms of its
success and failure. For this they need to opt unique strategies in their services and products by
which they can ensure their sustainability within marketplace for long. Furthermore, when new
product or new venture is launched then their high risk in terms of its success. Market gap is
analysed by different factors mentioned below:
Advancements in technology: Changes in technology and advancements are occurring
at regular intervals. It is insistent for entrepreneur to remain updated with latest techniques and
tools which are used by competitors. This will assist them in launching of new venture within
market feasibly. With this, market gap can be filled to satisfy requirements and expectations of
their customers.
Identification of opportunities: It is essential for entrepreneur to analyse and ascertain
opportunities which are accessible within market so that vantage can be gained and profitability

can be enhanced. These opportunities aids entrepreneurs to analyse and fill market gap so that
they can stay ahead from their competitors. This will help to formulate business idea of
launching Mr. Happy cafeteria with gaming theme.
TASK 3
P3 Gap analysis for evaluation of entrepreneurial ideas
In this scenario, entrepreneur is looking forward to launch their venture in market of
United Kingdom. Entrepreneur is opting for opening a theme based cafeteria and theme is
gaming. Gap analysis is used by entrepreneur to find out whether they can meet performance
expectations in future. Objective of this idea is to provide enhanced view of venture and provide
effective services to their customers. For this entrepreneur is opting for evaluation of products in
terms of venture, their spacing and kind of services they are being provided. This will help
entrepreneur to formulate their own strategies with respect to what they must include in their
venture, what all products should be added and their pricing strategies. This will aid them to cope
up with present as well as future needs.
GAP ANALYSIS
Basis Current condition Desired condition Action plan
Services and products Providing theme based
space which based on
gaming.
Customers are
demanding for
customisation in their
menu.
To make customers
comfortable,
provision of
customisation has
been provided.
Cost Offering services at
reasonable prices.
They want that their
prices are set as per
their competitors so
that they can earn high
profits.
Pricing strategies can
be used.
Innovation Business idea is
creative and unique to
ensure customer
There are chances for
business to
acknowledge more
Opt for customer
centric approach and
take review from

driven approach. innovations which will
make sure their
sustainability within
market.
customers to bring
more innovations.
Business objectives of Mr. Happy Cafeteria
Objectives Strategies
Ensure satisfaction of customers and
develop sense of loyalty and trust in
them
 By providing theme based space.
 By providing customisation in menu.
 By using customer centric approach and deliver
high quality services.
Sustainability of business within
market
 Consistency in services.
 Taking reviews and feedback from customer
and giving effective consideration to those.
 Opting for latest techniques and technologies to
deal with competitors.
Primary research: It is a research which is done by researcher first-hand (Grégoire and
Shepherd, 2012). These are managed within small group or with an individual. In present
scenario, researcher has opted for questionnaire method to find out and analyse market so that
gap which is formulated can be overcome and new venture can have distinguishable position
within market. Main respondents are youngsters but as it is family restaurant, some of
respondents are families. Sample size which has been considered is 30.
Secondary research: It refers to accumulation of existing thesis, journals, books and
internet sources. This information is collected by other researcher but entrepreneur or any other
individual is using this information for reference. Secondary research is used by researcher as it
is less expensive and takes less time in processing.
Q.1: Are you aware about the concept of theme based restaurant ideas in the market ?
 Yes

 No
Q.2: What kind of theme will attract you the most ?
 Gaming theme
 Wooden theme
Q.3: Do you want that employees and staff member should have their uniform related with
gaming theme?
 Yes
 No
Q.4: Do you think people will visit such theme based restaurants ?
 Yes
 No
Q.5: Who will be target audience?
 Teenagers
 Adults
P4 Interpretation of data to provide evidence of market.
Data is interpreted below based on information received from individuals.
Theme 1: Awareness about concept of Cafeteria
Are you aware about the concept of theme
based restaurant ideas in the market ?
Frequency
Yes 18
No 12

Central Tendency Data
Mean 15
Median 15
Mode 6
Standard Deviation 4.24
Interpretation: From above, 18 respondents are clear about idea of cafeteria and
services they are going to offer. But still they need to improve their advertisement strategies.
Theme 2: Different themes which are awaited.
Q.2: What kind of theme most awaited as per
your consideration ?
Frequency
Gaming theme 29
Wooden theme 1
Yes No
0
2
4
6
8
10
12
14
16
18

Central Tendency Data
Mean 15
Median 15
Mode 0
Standard Deviation 1.98
Gaming theme Wooden theme
0
5
10
15
20
25
30

Interpretation: From above, it can be interpreted that 40 individuals are waiting for
gaming theme based cafeterias which will look impressive. 1 individual is not in favour of this
concept.
Theme 3: Dress code on basis of theme.
Does the employees and staff member have
their uniform related with gaming theme?
Frequency
Yes 2
No 28
Yes No
0
5
10
15
20
25
30

Central Tendency Data
Mean 15
Median 15
Mode 2
Standard Deviation 1.84
Interpretation: From above, as per 2 respondents Mr. Happy is having dress code for
their employees but 28 respondents said that they do not have any knowledge about this.
Theme 4: People will visit Mr. Happy.
Do you think people will visit such theme
based restaurants ?
Frequency
Yes 25
No 5