An Analysis of the Ready-to-Go Furniture Business: A Project

This project delves into the analysis of a ready-to-go furniture business, focusing on various aspects critical for its success. It begins with an introduction to the concept of entrepreneurship and the motivation behind starting a furniture business, emphasizing the demand and revenue potential within the industry. The project outlines the process of generating a business idea, followed by a detailed feasibility study that includes economic and legal considerations. It also describes the products and services offered, highlighting the company's unique selling proposition of providing movable furniture. Furthermore, the project explores potential market opportunities, the attractiveness of the industry, and the company's vision, concluding with references to support the analysis. This project provides a comprehensive overview of the key elements required to establish and sustain a successful furniture business, from initial conceptualization to market analysis and strategic positioning.

Enterprise and
Entrepreneurship

Content
• Introduction
• Motivation behind a ready to go furniture business
• Process for generation of business idea
• Feasibility studies conducted
• Details of the products and services offered
• Potential market opportunities
• Attractiveness of the industry
• Vision of Business
• Conclusion
• References

What is Maslow hierarchy of Needs?
Enterprises are the finding of
opportunities for a new business and
then taking advantage of it to earn
profit. An individual who starts such a
new business is commonly called as an
entrepreneur Chatzichristos and
Nagopoulos, 2019).

Motivation behind a ready to go
furniture business
Generate revenues of the company: There is a huge demand of
furniture and other home decor things as the people are
changing there preferences with changing trends. This leads
to the generation of huge amount of revenues of the
company.

Process for generation of business idea
Strategic position of the company in market: In this the
company “ComfortableHut” will find about the strategic
position of itself in the market. This will be done
conducting PESTLE analysis (Political, economical, social,
technological, environmental and legal factors) through
which the company will get to know of all the factors that
may affect the business.

Feasibility studies conducted
• Economic Feasibility: This will help “ComfortableHut” in
determining the costs and other benefits relating to the idea
before allocation of financial resources.
• Legal Feasibility: In this “ComfortableHut” will see that
the idea created is not conflicting any laws and it is
complying with all legal requirements.

Details of the products and services
offered
“ComfortableHut” is producing furniture that is ready to move
and can be shifted to any other place. The company will
also provide services to move the furniture and help people
in making their dream home come to reality. The company
will make all kinds of furniture that will be movable such
as: kitchen, bedroom, bathroom furniture, etc.

Potential market opportunities
• This idea will change the lifestyles of people by providing
them with an option of creating their own happy place.
• It is cost saving as buying new furniture again and again is
very expensive.
• As it will be a new and unique idea which saves cost
therefore it will attract more customers.

Attractiveness of the industry
• Powers of customers: High customer power as the
furnitures are high in demand.
• Powers of suppliers: Low power as the company have
recently made new contacts with the suppliers.
• New entrants: High risk as the “ComfortableHut” is itself a
new business.

Vision of Business
The vision of company is to provide customers with lifestyle
they demand by creating a place that provide them with
satisfaction and happiness.

Conclusion
From the above PPT it is concluded that an enterprise can be
related to any sector depending upon the opportunities
available to the individual. There are various ways through
which a simple idea is created into reality which helps an
entrepreneur to gain profit.

References
Chatzichristos, G. and Nagopoulos, N., 2019. Social Entrepreneurship and
Institutional Sustainability: Insights from an Embedded Social
Enterprise. VOLUNTAS: International Journal of Voluntary and
Nonprofit Organizations, pp.1-10.
Cheah, S. and Ho, Y.P., 2019. Building the ecosystem for social
entrepreneurship: University Social Enterprise Cases in
Singapore. Science, Technology and Society, 24(3), pp.507-526.
Fritsch, M. and Storey, D. eds., 2017. Entrepreneurship in a regional
context. Routledge.
Williams, C.C., 2017. Entrepreneurship in the Informal Sector: an
institutional perspective. Routledge.