MGMT13151: Mini Supermarket Business Plan and Feasibility

This essay presents a comprehensive business plan for a mini supermarket, focusing on its feasibility and potential for success. The student identifies an opportunity to open a discount-focused supermarket in Brisbane, Australia, targeting households, business people, and tourists. The plan includes a detailed market analysis, competitive advantages, and a step-by-step approach to developing the business idea. It also discusses the skills required for entrepreneurs, such as ambition, willingness to learn, effective communication, creativity, and risk-taking. The essay highlights the business's potential benefits to society, including providing affordable goods and supporting local farmers. The financial aspects of the business, including startup costs and projected sales, are also discussed, along with the importance of adaptability, persistence, and ethical work practices. The plan emphasizes the importance of providing a valuable service to the community, offering discount prices and online purchasing options to enhance customer value and drive business growth.

Running Head: ENTREPRENEURSHIP INNOVATIONS AND STARTUPS
ENTREPRENEURSHIP INNOVATIONS AND STARTUPS
Name of the Student
Name of the University
Author Note

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ENTREPRENEURSHIP INNOVATIONS AND STARTUPS
Introduction
Entrepreneurship is the process of designing & setting of a business, and taking a
financial risk with a hope of gaining a profit. An entrepreneur is a person who plans to sets up
the business. The first part of this paper has provided a description of the business idea. The
next part is on the various steps followed for developing the business idea. The third part has
discussed on the skills required for becoming a successful entrepreneur. Then, the feasibility
study of the social enterprise has been discussed. The last part shows the importance of the
enterprise to the society. The intense of this paper is to identify an opportunity of supermarket
business and to test their feasibility report.
Body
The entrepreneurship idea will focus on opening a mini supermarket business. This
supermarket will aim to offer goods at a discount rate to the customers. The mini store will be
opened in Brisbane city of Australia. This business will be started on a small scale in the
corner of the street. Vision for the business is to open a large chain of supermarket stores in
the Brisbane city and the mission is to establish a business that will provide wide range of
products to the needy customers at an affordable price. The mini-market will cover an area of
nearly 22,000 square feet. The business will be licensed by the Australian government. In
addition to the store, there will be a separated warehouse facility for the business. The market
will focus on needy people who are desired to buy their products (Prodanovic et al., 2017).
The target group of people are Households, Business peoples and tourists. The business will
benefit society from malnutrition. The business will have an excellent customer service
facility and fast payment system. The goal of this business is to provide valuable products to
the customers and increase the profitability of the business. The mini-market will provide
durable goods at a discount price. Various goods will include beauty products, children

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products, home appliances, dairy products and medicines (Chaston 2015). The promotion
strategy will include advertisements on newspapers and magazines, contact the business
peoples and households through official websites. The competitive advantage of this business
is that the goods will be sold at a discount rate with a desirable quality to the consumers. The
other larger stores are expensive, that is not affordable by most of the consumers (Prodanovic
et al., 2017). The supermarket business will also provide an opportunity to grow the business.
It will never put the business in loss because the frequency of needs of these goods is
growing at a higher rate. Apart of retailing the goods and products, this mini supermarket will
also focus on customer care. This entrepreneurship idea will help to attract as many
customers as they can (Veloso et al., 2017). It also provides an opportunity to increase the
customer's value by providing membership services; home delivery services and many more
(Dubey et al., 2015). A separate section of online store will be present for delivering the
services to online customers. In this way, the business can seek many customers and make
competitive advantage in the market.
This idea for entrepreneurship was developed by undergoing various steps. The first
step was carried out by doing the market analysis of the business. It was analysed that
consumer behaviour is changing and are willing to pay more money on products like natural
products, beauty products, dairy products (Bacigalupo et al., 2016). One of the problems
faced by these industries that, there is a lack of accurate information from the market. The
changing need of consumers in increasing day by day and this information is not quickly
known in the market. This business will help in meeting the needs of the industry. The next
step is done by expanding the ideas by searching the data through various websites, images,
documents and discussions. The next process is evaluated by doing a competitive analysis.
Competitive analysis is done by comparing the business with other competitor stores located
nearby to the Brisbane city of Australia (Cuenca et al., 2016). The other stores provide more

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expensive goods that are not affordable by every consumer. This business will aim to provide
goods at a discount rate for willing consumers. The next step is of modelling the business.
This was done by building the most important element of the business. Customer segments
were selected, revenue streams were analysed, key resources required, key partners, cost
structure and marketing channels required for reaching the consumers. The next step is to
execute a market survey. The survey was done by preparing an online questionnaire and
sending the link to a targeted audience. This has helped to gather their feedback and find out
the customers perspective with respect to the products (Rahdari et al., 2016). Marketing
strategies were applied to improve the product.
For a successful entrepreneur, an Entrepreneur, the most important skill required is to
be focused and patience to run a new business. There are certain critical skills required to
become a successful entrepreneur. The entrepreneur must be ambitious in nature. They must
focus on making the business successful. An entrepreneur must have a willingness to learn.
They must keep an update on various changes occurring in the industry, changes in
technologies, changes in sales, changing demand of the consumers (Brixiova et al., 2015).
They must always seek new knowledge for making the business successful. They must have
the ability to listen to others. They must communicate in an effective manner and pay
attention to others. An entrepreneur should not be self-promotional. They must show interest
to listen to others point of view in reaching the goals. An entrepreneur must be creative in
nature. In order to be successful, the business must show innovative products that would
attract the customers to invest their money in that product. Therefore, an entrepreneur must
have the skills to be creative and enrich themselves with new experiences. They should also
be confident related to the business. Self-confidence is very important to know about their
own ability in growing the business. The entrepreneurs must have the courage to face the
situation of Perseverance. They must be able to defeat business failures and learn from the

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situation for future success. They must be persistence in nature. A risk-taker is another
important skill that is required in an entrepreneur. In order to enhance creativity and explore
the ideas and plans, an entrepreneur must have the courage to take the steps that are quite
uncertain and unfamiliar to them. These are the various skills that an entrepreneur must have
to do a successful business. Apart from these skills, the three important quality, inherent in
every a successful entrepreneur are adaptability, persistence and work ethically. Being
adaptable with related to change is very much important. This feature will help the
entrepreneur to improve the business, according to the change in competitive world. Third
important skills includes the willingness to work hard, because running a business is quiet
challenging and hard work is the important key to success in case of small business.
The business idea will be viable to society. Secondary research was conducted
through websites, newspapers and books. It was found that a large section of people from
Australia is seeking needs for dairy products. Hence, the demand for the desired goods is
more in the Brisbane region. This business will be useful for the meeting the wants of the
consumers. The Unique Selling Point of this product will be that the product will be
distributed at an affordable price to the customers. The additional discount will be distributed
with the product. This factor will differentiate the product from other competitive stores. The
goods will be distributed directly through sales (Paynter et al., 2016). The business will also
provide online purchasing facility to the consumers. This will also help to explore a large
number of consumers. The targeted group of people like households, business peoples and
bachelors are willing to pay more for the natural and medicinal products. Therefore, there are
enough consumers that are willing to pay for these products and will help in increasing the
business profits. The business will be located in Brisbane city of Australia in the corner street
of the main town. The most advantage is that the store will be located near many residents. It
will be more benefited from household consumers (Hazarika et al., 2019). The total estimated

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cost for doing the business is $5,00,000 for setting up the mini supermarket store in Brisbane
city. This amount will also include the salaries of the staffs for the first month of operation.
The business will be licensed from the Australian government. The necessary license will be
valid for six years. The total sales forecasted for the first year will be $120,000. This
projection is done according to the assumptions that no competitors will offer similar services
to the desired location. This projection might vary at some time or the other. The business
will take along three years to achieve a sustainable position in the market.
The entrepreneurship idea of the business start-up of a mini supermarket will be
benefited for the society in many ways as they are the interface between the demand and the
supply factor (McElroy, 2016). Farmers will be benefited by supplying the dairy products to
the mini-stores. The dairy production industries will begin to change their production
practices (Chrisinger, 2015). This will build the competitive advantages of farmers. The
market will never be at a loss, the customers will always be available. This market is very
important for the communities. The market will provide daily necessity like medicines,
utilities, housing appliances and other important products that are required by the consumers
in their day to day life. Hence, providing the product at a very discount rate will be beneficial
to both the consumers and the business. The consumers will get the product at a cheaper rate,
and the mini store will able to gain revenue (Pesch, 2015). This is the main competitive
advantages of the business. The mini supermarket will be useful to all the middle-class
consumers who cannot afford the products from other big supermarkets.
Conclusion
Therefore, it can be deferred that the entrepreneurship business of mini-supermarket
will help the consumers to get the products at an affordable rate. The store will be located in
the Brisbane city of Australia. The total estimated cost for doing the business is $5,00,000 for

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setting up the mini supermarket store in Brisbane city. This amount will also include the
salaries of the staffs for the first month of operation. The main target groups are households,
business organisations, children and youngsters. An entrepreneur must have certain critical
skills to become a successful entrepreneur. One of the problems faced by these industries
that, there is a lack of accurate information from the market. They must keep an update on
various changes occurring in the industry, changes in technologies, changes in sales,
changing demand of the consumers. An entrepreneur must be ambitious, creative, confident,
persistence in nature and risk-taker for becoming a successful entrepreneur. The feasibility
study for the business plan shows that this business will provide value to the needed
consumers. The promotion strategy will include, advertisements on newspapers and
magazines, contact the business peoples and households through official websites. This
business will provide welfare for the society. It will help the farmers by supplying the dairy
products to the mini-stores. The market will be never at loss. Dairy product industries will
change their production style. In this way, it will be benefited to the society. The business
will be licensed from the Australian government. The supermarket business will also provide
an opportunity to grow the business. It will never put the business in loss because the
frequency of needs of these goods is growing at a higher rate. The necessary license will be
valid for six years.

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References
Bacigalupo, M., Kampylis, P., Punie, Y., & Van den Brande, G. (2016). EntreComp: The
entrepreneurship competence framework. Luxembourg: Publication Office of the
European Union, 14.
Brixiová, Z., Ncube, M., & Bicaba, Z. (2015). Skills and youth entrepreneurship in Africa:
Analysis with evidence from Swaziland. World Development, 67, 11-26.
Chaston, I. (2015). Entrepreneurial Marketing: Sustaining Growth in All Organisations.
Macmillan International Higher Education.
Chrisinger, B. W. (2015). Reconsidering the Supplemental Nutrition Assistance Program as
community development. Journal of nutrition education and behaviour, 47(3), 273-
277.
Cuenca, L., Boza, A., Gordo Monzó, M. L., Fernández-Diego, M., Ruiz Font, L., Alarcón
Valero, F., & Alemany Díaz, M. D. M. (2016). Extension of the 6-3-5 technique for
incorporating creativity, innovation and entrepreneurship competences in higher
education. ICERI Proceedings, 79-83.
Dubey, R., Sonwaney, V., Aital, P., Venkatesh, V. G., & Ali, S. S. (2015). Antecedents of
innovation and contextual relationship. International Journal of Business Innovation
and Research, 9(1), 1-14.
Hazarika, S., & Pandit, D. (2019). Feasibility Analysis of Decentralized Wastewater
Treatment Systems. In Innovations in Infrastructure (pp. 207-219). Springer,
Singapore.

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McElroy, J. (2016). Filling in the" grocery gap": supermarkets and the shaping of the food
retail landscape in Newark, NJ, 1950-1990 (Doctoral dissertation, Rutgers University-
Graduate School-Newark).
Paynter, J., Glover, M., Bullen, C., & Sonia, D. (2016). An intervention to reduce the number
of convenience stores selling tobacco: feasibility study. Tobacco control, 25(3), 319-
324.
Pesch, R. (2015). Deep Winter Greenhouse Enterprise Analysis: A Study of the Costs and
Benefits of Operating Deep Winter Greenhouses in Minnesota and Wisconsin.
Prodanović, R., Kuzman, B., Jovović, D., & Ozegović, L. (2017). Market and Trade of
Organic Fruits in Serbia. Economics of Agriculture, 64(1), 141-155.
Prodanović, R., Kuzman, B., Jovović, D., & Ozegović, L. (2017). Tržište i promet organskog
voća u Srbiji. Ekonomika poljoprivrede, 64(1), 141-155.
Rahdari, A., Sepasi, S., & Moradi, M. (2016). Achieving sustainability through
Schumpeterian social entrepreneurship: The role of social enterprises. Journal of
Cleaner Production, 137, 347-360.
Veloso, C. M., Fernandes, P. O., & Magueta, D. M. (2017, May). EvALuATION OF
CusTOMERs sATIsFACTION IN HYpERMARKETs: THE IMpACT OF
NATIONAL CuLTuRE ANd sERvQuAL dIMENsIONs. In Book of Proceedings
(Vol. 11, p. 360).

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Appendix
Feasibility Analysis of the business
Feasibility Analysis for Mini Super Market
Goods and Services
 Beauty products, medicinal products, children goods and dairy products
 Will be distributed at discount rates
 Direct selling through stores and home deliveries
 Will be durable
Target Market
 Brisbane city of Australia
 Households, business organisations, youngsters are the main target
 The goods will be benefited to the middle-class society
Industry
 Coles Brisbane Myer Express and IGA South are the top competitors
 The product will be at a cheaper rate as compared to other competitors and will be
sold at a discount rate.
 Demand is higher for Australian consumers
 Higher chance of risk due to changing demand patterns of the consumers. Other
Environmental risk includes natural disasters and weather changes. This may
damage the inventories.
Plan
 Business strategy is to increase the profits by 60% in the next three years.
 The market strategy includes distribution of products by promotion through
advertisements and direct selling through e-mails.

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Operations
 The mini store will be opened in the Brisbane city of Australia.
 The stores will contain three staffs operating in the mini store
 The products will be supplied from the nearby wholesale market.
 The business will be licensed by the local state government of Australia. The
license will be for six years.
Finances
 Overall costs of the business will be $40,00,000
 Funding will be done by making loan form banks
 The estimated costs after one year will be $ 1,20,000.
 The profits are estimated to increase by 60% in the next three years.