Business Opportunity For An Entrepreneur Starting A New Business

1346 WordsDec 22, 20146 Pages
 Identify the business opportunity AfroMart is a supermarket established to cater to the needs of consumers by setting up market chain of food supplies and other resources such as body product, hair products commonly found in African countries. AfroMart is a start-up business, looking to begin in a supermarket and employing 8 workers to begin with. These products will be supplied by wholesale distributors located in Africa, where production is cheaper and AfroMart can benefit from economies of scale. The challenge will be getting consumers from different ethnic groups to try the products or reaching out to consumers in different regions in the UK. The aim is to match the successes experienced by leading retailers such as Sainsbury’s, Tesco and Asda. To do this, suppliers will need to be sourced and sustained to be financially viable.  Identify why it would be a good opportunity for an entrepreneur starting a new business (Drucker, 1985) defined entrepreneurs as people who always ‘search for change, respond to it, and exploit it as an opportunity’. There are several reasons why it would be a good opportunity to start a new business. According to (Frieberg, 1976), Money is a material incentive, that motivates people to start a business and (Dubini, 1989) further supports the view by showing that entrepreneurs are unhappy with working conditions. Therefore, make money a motivating factor as to why they set up a business. In African Market in the UK, there isn’t much

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