Reference no: EM131135864
Outline and criteria for opportunity register
1. Opportunity Type: Product or service
2. Opportunity Description: What is the product or service you are offering; what need does the product or service satisfy; who is the primary group of constituents who will want this product or service; how does the primary group of constituents currently try to fulfill their need (however imperfectly); and when, where, and how often would your constituent group use this product or service? Note: If possible, you are strongly encouraged to incorporate photos and videos in your opportunity description; this is particularly appropriate when you are proposing a modification to an existing product or service.
3. Opportunity Assessment: Drawing from your description of the opportunity, estimate potential revenues, variable costs, and necessary fixed costs that you would have to incur to pursue this opportunity. Do the numbers make it worthwhile? If not, can you revisit some assumptions to make it a profitable opportunity? Can you replicate this product or service in different geographic areas or with a second, different group of constituents? Use these three words to guide your approach to the opportunity assessment: numbers, numbers, numbers.
Your opportunity register will be for a business that sells out of a vending machine.
Vending Machine
present, describe, and assess a business that can be operated through a vending machine on a college campus.
Describe what you will sell, what need this product fulfills, who is the primary group of customers who will want this product, how this group currently tries to fulfill this need, and when, where, and how often this group will buy.
Assess the attractiveness of this opportunity by estimating revenues, variable costs, and necessary fixed costs that you will need to incur to pursue this opportunity. For example, if you need a specific type of vending machine, go to eBay, find one like the one you need, and determine its price.
Find a supplier for the item(s) you will sell to determine your variable costs. Use information about how your customers currently fulfill their needs to determine your sales price to customers. For this opportunity register you will need to persuade the audience why the product you propose to sell will be popular at a vending-machine point-of-sale.
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