ENTERPRISE - Selection Report Introduction The enterprise project, we embarked on went through various changes. The evolution of the ideas were predominantly based on the type of business we would adopt for the project. During the initial planning stage of the project, we have decided to consider these 3 businesses which we collectively agreed as the best in terms of business potential. This report evaluates the ideas, advantages and disadvantages of each business models and demonstrates evidence on our decisions regarding why we chose the idea and the facts that were evaluated in the final decision. My Role in the Team As an executor of the project and innovator in terms of creativity, my role involved working on plans and strategies, ensuring timely task completion, and managing various responsibilities including product creation and cost / pricing assessment. My entrepreneurial skills and knowledge were crucial in contributing to new ideas and my communication skills maintained the team motivation during the project. Enterprising skills Commercial awareness Creative and innovative thinking Problem solving and analytical skills Adaptability and flexibility Influencing skills Critical thinking Productivity Creativity Previous ideal from first to last Café Ice lollies Shaveling ice Stickers Drinks Football timed drinks Sugar fruit Cookies Business Idea Summary: This report considers the following business ideas: 1. Football-themed Beverage 2. Fruits Fried in Sugar Syrup 3. Cookie Business ("sugar") Market Research Products market Business Football-themed Beverage Fruits Fried in Sugar Syrup Cookie Business (sugar) Selling point Unique product for football enthusiasts Innovative confectionery for unique sweet snack demands. High demand for homemade, fresh cookies within the school Target Market: Business Football-themed Beverage Fruits Fried in Sugar Syrup Cookie Business Targeted customers School students participating in weekly football trips. Students and parents seeking novel sweet snacks School students, teachers, and staff. Market Trends: business Football-them beverage Fruit fried in sugar syrup Cookie business Why did business was appealing Largest Global audience in terms of sport. Increasing interest in football skill continues at school Rising demand for unique and innovative food experiences. Growing trend for homemade and artisanal bakery products Competitor Analysis: business Football-themed beverage Fruit fried in sugar syrup Cookie business competitors Canteen soft drinks and juices Competes with similar fruit-based products in the school canteen. Zero subsites or competitors within school Football-themed Beverage: Advantages: Unique product for football enthusiasts during school trips. Disadvantages: Production difficulties and dependence on school trips. Market Analysis: Established customer base with limited competition. Justification for Rejection: Complex production process and disruption of school trips. Fruits Fried in Sugar Syrup: Advantages: Innovative confectionery with fresh fruits. Disadvantages: Inconsistency in production and messy packaging. Market Analysis: Unique product concept but high sugar content raises concerns. Justification for Rejection: Inconsistent product quality and practical challenges in packaging. Cookie Business ("Sweet Delights"): Advantages: Expertise in bakery products and potential demand within the school. Disadvantages: Production challenges and limited product diversification. Market Analysis: Strong expertise in cookies, potential for school-based market expansion. Justification for Approval: Leverages existing expertise and addresses a clear market need within the school environment. The football-themed drink business Executive summary: This ideas was connected with the school's weekly football trips. The first attempt would be to sell this drink on these trips to the football field. The project was later abandoned. Then, products on site were meant for the school on Fridays. Nonetheless, logistical plagues and unforeseen problems. ( explain what the unforeseen problem is) Advantages Attract pupils who are interested in football. Novelty: the items on offer is different from the conventional refreshments of other pupils. possible links to sports activities and gatherings Strengths Weaknesses Opportunities Treats Disadvantages Production difficulties There is only one way to get into this market. This must be done on Fridays at the school. The cancellation of these football trips disrupted the original vending schedule. Market analysis Having a set customer base with limited option encouraging customer loyalty Established relation with majority of customer Production issues due to product complexity Due to it being a sugar drink there is confer regarding the sugar levels of children Goes along with the schools’ actives opening possible links with school events Entering a market with limited competitors Customer may dislike the product Trust in the schools’ weekly trips is massive and not in the businesses control Project Rejection Justification: The decision to cancel the project was prompted mostly by the complexity of the manufacturing process and the discontinuance of school excursions. The challenging details of making football-themed beverages presented issues that might compromise item quality and consistency. Furthermore, the first sales strategy focused primarily on school trips, which were stopped causing an examination of the project's long-term viability Conclusion: The football-themed drink business presents barriers that necessitate careful evaluation. The project's rejection is due to difficulties in Production-constrained ways of distribution, and unexpected delays to school travel. Fruits Fried in Sugar Syrup Business Executive summary: This material analyses the profit potential of a confection made of fruit in sugar. A success or failure Many products were tried. The method began with an experiment by one of the coowners. He enjoyed doing so and couldn't resist developing a distinctive product. Barriers arose, from packaging and consistency Because of various costs and inconsistencies, it was decided to suspend the project here. Introduction: During a transitional period for them, the notion of turning fruit into a sugar-based syrup had somehow stuck in the mind of 1 of the co-owners because he also had these kinds of fantasies now and again. while any fruit could be utilized, problems were created at crucial sections, affecting the product's uniformity and refinement. The present study on the merits and demerits of cooked fruit sugar syrup providers as a business Advantages New Thought: It brings out a product different in essential quality and possibly attraction Exploratory and Progressive Practice: You can see this in the creative thoughts of the co-owners. Use or fresh fruits Strengths Weaknesses Disadvantages inconsistency: higher orders of inconsistency Lack of progress: The product has only been finished to the point of immaturity. Messy packaging: It is not easy to store and use these articles. Market analysis Opportunities Treats natural compounds unique product notion Minimal perfecting varying results. Due to high sugar in the fruit confers arise for children sugar intake A specialized market for uncommon food experiences. involve difficulties with packaging This may make us compete with school canteen due to use making fruit-based products, similar to them. Justification for Project Rejection: Several decision was concluded not advance with the business. Failure to attract the necessary results through the cooking process the quality of the final product. The dearth of development and refining makes the product undesirable. In addition, issues regarding wrapping and swallowing the muddy product presented practical difficulties. Conclusion: The cooked fruit in the sugar syrup business, while born from creative experimentation, faces challenges that compromise its overall feasibility. Inconsistencies in achieving desired results, lack of refinement, and practical challenges in packaging contribute to the decision not to pursue the project. A more comprehensive analysis of production costs and potential improvements may be considered for future reconsideration. Cookie Business Executive Summary:This report analyses the feasibility of establishing a cookie business. Originating from the idea of one co-owner with a background in the bakery business, the concept involves producing sugar cookies and groovy cookies for sale within a school setting. The report examines the advantages and disadvantages of the cookie business, comparing it to two alternative business ideas: a football-themed beverage business and a fruit-cooked-in-sugar-syrup business. Introduction: The cookie business idea emerged from the co-owner's expertise in the bakery business, aiming to explore the production of unique and visually appealing cookies for sale within a school environment. While the idea seemed promising, challenges related to continuous production, equipment, and product diversification needed careful consideration. Advantages Expertise in Cookies: Co-owner's background in the bakery business. School Environment: Potential demand within the school setting Strengths Weaknesses Opportunities Treats Disadvantages Production Challenges: Issues related to continuous cookie production. Equipment Constraints: Challenges in using available oven equipment. Diversification: Difficulty in expanding the product range. Market analysis Expertise in cookies and bakery products Production challenges Limited product diversification School based market Potential for product expansion Competition with school canteen Challenges in diversification Project Justification: The decision to move forward with the cookie business is justified by the co-owner's expertise in cookie production and the potential demand within the school environment. The unique product concept offers a competitive edge, and the initial market research indicates a positive reception. Comparison Considering Alternative Business Ideas: Football-themed Beverage Business: While the football-themed beverage business profited from having an original notion catering to football devotees, it saw major manufacturing obstacles, limited distribution channels, and disruptions due to school trip suspensions. Football is a seasonal sport that only occpy 4-6 months of the year in Sri Lanka. The idea was turned down due to the intricacy of its manufacturing procedures and its entry into an unusual market, which is populated with energy drinks and high sweet malt beverages such as Milo – which are heavily marketed with high budget multinationals The market penetration, was extremely difficult. Fruits Fried in Sugar Syrup Business: The fruit-cooked-in-sugar syrup company was challenged to achieve consistent results lacked processing and faced packaging hurdles. The choice to reject the suggestion was prompted by problems during the cooking process, poor product quality, and technical difficulties in packing and consumption. Financial Analysis Cost Estimates and Revenue Projections: Football-themed Beverage: Costs: High due to production complexity. Revenue: Limited by school trip cancellations. Fruits Fried in Sugar Syrup: Costs: High due to packaging and production inconsistencies. Revenue: Limited by inconsistent product quality. Cookie Business: Costs: Moderate with potential for optimization. Revenue: Strong potential within the school environment. Break-even Analysis: Football-themed Beverage: High break-even point due to production costs. With a market full of low valued energy based beverages Fruits Fried in Sugar Syrup: Difficult to achieve break-even due to inconsistencies. ( explain) Cookie Business: Achievable break-even with strategic planning and efficient production. Conclusion: The cookie business, "Sweet Delights," emerges as the most viable Business propostion among the three business models evaluated. The decision possess merit and the factors are 1. Expertise and Experience: The co-owner's background in the bakery business provides a solid foundation for producing high-quality cookies. 2. Market Demand: There is a clear and existing demand for homemade, fresh cookies within the school environment, with no direct competitors. 3. Feasibility: The production process for cookies is less complex compared to the other two ideas, and there is significant potential for optimization. 4. Financial Viability: The cookie business shows strong potential for revenue generation within the school and has a more achievable break-even point. While the football-themed beverage and fruits fried in sugar syrup businesses have unique selling points, they face significant challenges in production, market entry, and consistency. The cookie business not only leverages existing expertise but also addresses a clear market need with manageable production challenges. Recommendation: Proceeding with the cookie business, "sugar," focusing on strategic planning for efficient production, potential product diversification, and continuous market analysis to ensure sustained demand and growth within the school environment.
