Entrepreneurial Opportunities: Sports Grill House Business Plan Report

This report provides a comprehensive analysis of entrepreneurial opportunities, focusing on the launch of a Sports Grill House. It begins with an introduction to entrepreneurial concepts and the rationale behind the business idea, targeting youth and sports enthusiasts in the UK. The report evaluates various sources of entrepreneurial ideas and innovation, including social, technological, economical, environmental, and political factors using the STEEP model. It then delves into market analysis, employing tools and techniques to explain the rationale and identify market gaps for the Sports Grill House concept. Data is presented to support gap analysis, and the interpretation of data provides evidence of market potential. The report also includes a SWOT analysis and an evaluation of the competitive and market environments using PEST analysis, assessing the potential viability of the business venture. The conclusion summarizes the key findings and recommendations for the successful launch and operation of the Sports Grill House, supported by relevant references.

IDENTIFYING
ENTREPRENEURIAL
OPPORTUNITIES

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Evaluate various sources of entrepreneurial ideas and innovation..................................3
TASK 2 ...........................................................................................................................................5
P2. Explain the rationale and the market gap for a specific entrepreneurial idea using relevant
tools and techniques...............................................................................................................5
TASK 3............................................................................................................................................6
P3. Present data needed to support gap analysis in the evaluation of a specific entrepreneurial
idea.........................................................................................................................................6
P4. Interpret data appropriately to provide evidence of market potential..............................8
TASK 4 .........................................................................................................................................11
P5. SWOT analysis of an entrepreneurial idea.....................................................................11
P6 Evaluate the competitive and market environments in which idea will be launched to
assess potential viability .....................................................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES .............................................................................................................................15

INTRODUCTION
Entrepreneurial opportunities mean generation of new ideas in order to produce goods,
services, market, raw material which can be successfully used to gain economical advantageous
for stakeholders. Furthermore, entrepreneur is a person whose main motive is to earn more profit
as it will help them for expansion of their business at global level. Along with this, they always
make some changes in the business activities so that they can capture market share as well as
grab many opportunities. For this, entrepreneur also bear risks which creates problem in their
innovation and performance. In this present report, a new start up business of open restaurant in
a playground form named as Sports Grill House is planned to be launched. In relation to this,
entrepreneur target teenagers, sports person as now a days most of the people love sports so it
will be helpful for entrepreneur to run their business in an effective manner. This report
discussed about the various sources of entrepreneurial ideas and innovation, as well as market
analysis for a specific entrepreneurial idea is also going to be covered. At last, SWOT analysis
and Porter's five force model has been discussed.
TASK 1
P1. Evaluate various sources of entrepreneurial ideas and innovation.
Now a days, youth wants to establish their own business, for that government of UK aids
them in order to attain their goals or fulfilling their dreams effectively. This is because, they
come with new innovative ideas which are beneficial for both economy and individual as it
enhance their standard of living as well as growth (Boling, Pieper and Covin, 2016) With the
help of this, they become successful entrepreneur and get more opportunities for expansion of
the business. In relation to this, government also provides them funds and platform, so that they
entrepreneur use their idea and innovate something new and different. In addition to this, STEEP
model have been elaborated for analysing an opportunities and external factors. This model is
explained as below:-
Interest and hobbies (Social Source)
It is a very important source of generation of an idea or some innovation (Campos and et.
al., 2015). With the help of this, they enhance their way of thinking and learn many thinks by

which they get helps at the time of starting business. The reason behind of successful business is
that every entrepreneur should have interest in a particular field as well as passionate towards
working. In context to Sports Grill House restaurant, the sports themed restaurant will going to
be opened as its owner's idea is developed with the interest on sports which is beneficial for them
as it motivates them at every stage and will leads to success.
Mass media (Technological)
Various up gradation in technology have influenced idea of Sports Grill House restaurant
as latest with the help latest technology they will easily able to promote their products as well as
services with customers in effective manner. Therefore, it can be said that with latest technology
entrepreneurs will be able to promote their business as well as product at market place as it
generate awareness and information in the market so that they can attract customers towards their
business (Davidsson, 2015). It can be further said that there are various source of mass media by
which they promote their business such as radio, magazines, electronic newspaper and internet
and so on. Along with this, they also focuses on advertisement and commercials so that they can
advertise it in an effective way. This is because advertisement and good promotion aids
companies for enhancing their sale as well as profit though attracting ample amount of
customers. In context to the idea of Sports Grill House restaurant, the marketing team will
advertise its products with the latest technology.
Customer surveys (Economical)
The customer surveys aids entrepreneur to check the viability of their ideas. In addition to
this, an effective entrepreneur analyse the whole market for estimating customers taste and
preferences as well as their buying behaviour (Hang, Garnsey and Ruan, 2015). In relation to the
idea of Sports Grill House restaurant, the main aid of the concept is to deliver such products that
will be liked by each and every single individual. As per the market analysis they target youth or
sports person for enhancing the value of business at market place. Along with this, they will
provide delicious food at affordable price as they will target youth so it will be compulsory for
them to provide goods in reasonable rate which will attract customers toward it.
Eco friendly (Environmental)
Constantly opening of cafe is resulting in increase of pollution level in the environment
as all of these Cafe's are containing various equipments that are harmful for the environment as
well as people. This have inspired the idea of Sports Grill House restaurant as the theme of the

cafe is eco friendly and the equipment which will going to be used by them will not place any
harmful effect on environment. Along with this, decoration of this cafe will be done by using
wasteful sports items for making it attractive environmental friendly.
Laws and regulations (Political)
Government of UK is very supportive for the individuals who are starting their business
at their own level. Along with this, the government also ensures entrepreneur that will get quick
loan for starting their business effectively. Therefore, it can be said that this source have inspired
idea of Sports Grill House restaurant as the owner will easily get support of the UK government.
This is because, the main motive of the government of UK is to strengthen economical status of
UK (Hansen, Monllor and Shrader, 2016).
As per the above explained sources of entrepreneurial innovation and ideas says that,
before start-up of Sports Grill House restaurant, entrepreneur should have analyse the market as
it says about the taste and interest of customers. Along with this, UK government aids
entrepreneur for fulfilling their dream and also they provide platform for starting the business
effectively. With the help of this, entrepreneur will get success in their life and attain its targeted
goals.
TASK 2
P2. Explain the rationale and the market gap for a specific entrepreneurial idea using relevant
tools and techniques
The main rationale behind choosing this specific entrepreneurial idea is the friendly
environment of United Kingdom. It has been frequently seen that localise people of UK prefers
to spend their money on enjoying their life with socialise event such as parties in cafe. But, at the
same time these people are concerned about the harmful affects of these parties on the
environment. In this regard, this entrepreneurial idea has been chosen as the concept is eco
friendly as well as profitable for those individuals who are planning to work on the same. In
addition to this, it can be further said that sports lover people of United Kingdom will easily
accept the concept they will be able to connect themselves with theme of restaurant.
Gap analysis of this idea can be effectively done by checking present state with the
forecasted vision for the same concept. In context of present case, it has been analysed that the
present state is the entrepreneurial idea of Sports Grill House restaurant that has been developed.

Its motive is to establish Cafe effectively in United Kingdom. In order to fulfil this gap, the
entrepreneur will initial hire real estate agent for finding out best suitable place for the Sports
Grill House restaurant. At next the entrepreneur will go for promotional activities for
popularising the idea of restaurant among customers. This promotion will done through
individuals social media sites and newspapers. The overall process of work execution will be
helpful in filling gap between developed idea and its establishment.
SWOT
Strength Weakness
 Company provide high quality food and
also keep hygiene factor in their mind
while serving to their customers. With
the help of this, restaurant will be able
to achieve their goals effectively.
 In London, there is already well
established restaurant which will give
tough competition to the Sports Grill
House restaurant. It will take time for
enhancing the growth in the
marketplace
Opportunities Threats
 With the help of unique idea of sport
cafe, company can attract large number
of customers towards them. As a result
company will be able to maximise the
revenue and maintain the sustainability
at the marketplace.
 On the other hand, there are large
number of well establish restaurant in
the marketplace, which will be tough
for Sports Grill House restaurant to
maintain their sustainability.
PEST
Political Economical
 According to this factor, Sports Grill
House restaurant will face various trade
restrictions, tax policy while
introducing their business.
 In case of economical factor, interest
rate, exchange rate will affect the
working of the business venture.

Social Technological
 According to this factor, taste and
preference of customers are dynamic
which largely affects the performance
of Sports Grill House restaurant.
 In this factor, changing technologies
largely affects the business venture
profitability.
TASK 3
P3. Present data needed to support gap analysis in the evaluation of a specific entrepreneurial
idea.
BASIS Fast Food Restaurant Daniel restaurant Sports Grill House
restaurant
Products and
Services
This restaurant provides
food in good quality at
affordable prices as well
As per the this
restaurant they offer
food in good quality
This restaurant will
provide different
types of food items

as good services do that
they can satisfy
customers need and
expectations. Along with
this, they bring good
decoration in restaurant
for the purpose of
attracting customers
towards it (Kraus,
Richter, Papagiannidis
and Durst, 2015).
but their prices are high.
In addition to this, here
customer book party
halls for various
purposes such as
anniversary parties,
birthday parties, family
gatherings, and many
more.
such as Chinese,
Indian, continental
and so on with high
quality and in good
taste in order to
satisfy the
requirements of their
customers.
Organisation
Structure
The restaurant develop
their plan and strategy in
order to enhance the
market position. In
addition to this,
employees do hard work
for achieving
organisational goals and
objectives effectively.
This restaurant uses
departmental structure
where different
department perform
different activities.
With the help of this,
they manage their
business activities and
perform it in an
effective manner.
Owner of the
restaurant will use
Matrix structure,
with the help of
which they will
guide their
employees so that
they will manage
business operations
accordingly (Mat,
Maat and Mohd,
2015).
Major
Attractions
They opt centric
approach for satisfying
their customers demand
and expectations.
They offer variety of
delicious food in good
taste for maximising
sale and profit.
With the help of
attractive offer
company will be able
to grab attention of
large number of
customers. Also
company will offer

unique style of
environment to their
customers.
Promotional
Strategy
They prefer newspapers,
T.V., radio, etc. For
promoting its food items
(Park, Sung and Im,
2017).
They use social
networking sites for
promoting their
restaurant dishes as well
as party offers.
With the help of
online advertisement,
social networking
sites, pamphlets
company will
promote their
restaurant.
Before starting of Sports Grill House restaurant, entrepreneur should evaluate following
factors are given as below:-
Primary Research- This research means researcher collects the data by himself only.
The research can be done on following ways such as focus groups, interviews, observations, etc.
With the help of this research, The Sports Grill House restaurants will be able to gather data in
order to examine the requirements of customers.
Technology- Sports Grill House restaurants plan to opt high tech technologies for
attracting customers towards it such as bell system for calling waiters, sensor air conditioning,
and many more.
Market Analysis- Government provides many opportunities which helps individual to
establish their own business as per their dreams (Santos and et. al., 2015). In context of Sports
Grill House restaurant, entrepreneur plans develop effective strategies in order to enhance their
sales by attracting customers.
QUESTIONNAIRE
QUESTIONNAIRE
NAME:
AGE:
ADD:
GENDER:

MAIL ID:
CONTACT No. :
Q1) How often do you go to restaurant?
 Once in a month
 Several times in a month
 Never
Q2) Will you get good quality of food products at restaurant?
 Yes
 No
Q3) Do you prefer restaurant for organising small parties?
 Yes
 No
P4. Interpret data appropriately to provide evidence of market potential.
Theme 1: Ever visited in a Fast food restaurant
Q1) How often do you go to restaurant? Frequency
Once in a month 10
Several times in a month 3
Never 2

Interpretation: As per the above pie chart, it has been analysed, out of 15 respondents, 10
respondents says that they visit restaurant once in a month as they have to attend birthday parties.
whereas 3 respondents visit restaurant several times in a month. On the other hand, remaining 2
respondents never visits restaurant.
Theme 2: Satisfaction from the food quality
Q2) Will you get good quality of food products at restaurant? Frequency
Yes 11
No 4
10
3
2

Interpretation: As per the above pie chart, it has been concluded, out of 15 respondents, 11
respondents says that they are satisfied from the Quality of food at restaurants. On the other
hand, remaining 4 respondents says that they are not satisfied from the services and quality of
food at restaurants.
Theme 3: Parties at restaurants
Q3) Do you prefer restaurant for organising small parties? Frequency
Yes 7
No 8
11
4
Yes
No