BUSINESS OPPORTUNITY EVALUATION DISCUSSION

Business opportunity- a favourable chance that an enterprenuer accepts for investment. It can also be aviable business that an enterprenuer selects from several options.

EVALUATION OF BUSINESS OPPORTUNITY

In evaluating a business opportunity one should considert the following aspects;

1. Labour

2. Raw materials

3. Market

4. Competition

5. Infrastructure

6. Location

7. Security

8. Government policy

9. Effects if business to surrounding environment

EVALUATION QUESTION

It is based on the following questions:

1. Are the initial production cost realistic?

2. Are the marketing cost realistic?

3. Is the time required to get to the market realistic?

4. Is this a growing industry or a business?

5. Can the product and the need for it be understood by the financial community?

BUSINESS OPPOTUNITIES BASED ON LEVEL OF NEED

Basic need- foods stalls, second hand clothes shop, rooms for rent.

Safety/security needs- fire extinguisher, fenced houses, bungler poods, gates, security, services etc.

Social needs- entertainment services, cosmetics shops, beaches or recreation centers etc.

Ego needs- jewery shop, car trading, selling expensive items like watches, rings etc.

Self actualisation- providing personal advising services political consultancy foem etc.

QUALITIES OF BUSINESS OPPORTUNITIES

Legality- it should be accepted by the government. (Government Policy).

Growth- it should be a business that can develope and grow as time goes.

Uniqueness- your business should be unique in a manner that its not universal known.

Marketability- your business should be able to sell up your product.

Competitiveness- your business should be able to out compete other business.

Financial fensibility- as you start up your business, it should be easy to get up that money to start up a business.

Social acceptability- it should be acceptable by the people around you.

Operation visibility- one can see the way production process is viewed. You can preview the running of the business.

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