Entrepreneurial Opportunities: Market Potential and Gap Analysis

This report focuses on identifying entrepreneurial opportunities through market research and gap analysis. It presents data supporting the evaluation of a specific entrepreneurial idea, using Freshly (a healthy food company in the UK) as an example. The data, gathered via primary research, explores consumer preferences for healthy food, awareness of Freshly, and spending habits. The interpretation of this data provides evidence of market potential, concluding that entrepreneurs can find opportunities by understanding customer needs and wants. The report emphasizes the importance of market research in producing products that meet customer expectations and includes references to relevant entrepreneurship research.

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
Entrepreneur may be referred as the
person who initiate and manages new
business in order to earn high profit
margins. Entrepreneurial opportunities
facilitates in producing products which
can satisfy customer’s needs and
wants.

Presentation of data for supporting gap analysis in
evaluating particular entrepreneurial idea.
Gap analysis may be referred as the process
which assist in comparing actual
performance with desired one. By opting
this method, company can analyse
difference between current state and desired
state so that corrective action can be taken in
order to achieve higher success

Interpretation of data in appropriate manner for
providing evidence of market potentials.
Freshly is a healthy food offering company
operates in UK. It offers wide variety of
healthy food items such as protein bowl,
fresh veggie salad and low carb meal.
People are becoming more conscious
about their health and switching to a
healthy lifestyle.

Continue...
Theme 1: Understanding of Healthy food .
Q1. Do you like Healthy food items ? Fre
que
ncy
a) Yes 25
b) No 15

Continue...
Theme 2:Food type that people
prefer.
Q2. What type of healthy food do
you prefer?
Frequenc
y
a) Veggie bowl 10
b) Protein salad 15
c) Protein smoothie 12
d) Salad sandwich 13

Continue...
Theme 3: Awareness of Freshly Restaurant.
Q3. Have you heard about Freshly
Restaurant?
Frequen
cy
a) Yes 28
b) No 12

Continue...
Theme 4: Spendings on Healthy Food.
Q4. How often you make spending on
healthy food items ?
Frequency
a) Everyday 10
b) Occasionally 18
c) Once in a week 8
d) Once in a month 4

Continue...
Theme 5: Success of Freshly Restaurant.
Q5. Do you think that Freshly
Restaurant will attain success ?
Freque
ncy
a) Yes 28
b) No 12

Conclusion
From the above presentation, it was concluded that entrepreneur can seek opportunities by conducting
market research so as to understand customer’s needs and wants and based on that produces product
that can fulfil expectation. In addition to that data can be collected and interpreted by conducting
primary and secondary research.

References
 Audretsch, D., 2012. Entrepreneurship research. Management decision.
 Bygrave, W.D. and Hofer, C.W., 2021. Theorizing about entrepreneurship. Entrepreneurship theory
and Practice, 16(2), pp.13-22.

Thank You