Opportunity Analysis Report
Opportunity Analysis Report for new Chinese restaurant
Prepare for ROBERTA QUERIN Prepared by Benli Lu
Date: 16 April
Executive summary
Building a new venture is not just decided by the entrepreneur’s idea and passions. It needs to be assessed and screened because it can cause business failure if there is no sound analysis. This report aims to clear whether the idea of starting a Chinese restaurant in Coffs Harbour is feasible or not. It covers the description of the venture and innovation, the analysis of industry and market, analysis of competitions, assessment of entrepreneurs. And the next step for the starting business is also mentioned.
The new Chinese restaurant will be open in the small square along the main street in Coffs Harbour. It will provide the food that chosen carefully from the cities in south of China. This idea is innovative because it suites the social trends and demographic trends that more and more people require healthy food and the aging problem occurs.
However, this is only an idea; it needs to be carefully assessed if it wants to be an opportunity. The analysis of industry and market shows that it possible to open a new Chinese restaurant in Coffs Harbour. The restaurant and catering industry is going through a good time, and Chinese food has exploded in popularity in Australia. Furthermore, the market for the new Chinese restaurant is targeted the low and middle income groups in Coffs Harbour.
Apart from the feasibility of business, it is also necessary to analyze the competition in that area. Through evaluating each element of industry structure, threat of entry, barging power of suppliers and buyers, threat of substitutes, the competition from other restaurants is very serious.
To find the competitive advantages, SWOT analysis should be used in this report so that the entrepreneurs can make the strategies according to the competition and SWOT
Prepare for ROBERTA QUERIN Prepared by Benli Lu
Date: 16 April
Executive summary
Building a new venture is not just decided by the entrepreneur’s idea and passions. It needs to be assessed and screened because it can cause business failure if there is no sound analysis. This report aims to clear whether the idea of starting a Chinese restaurant in Coffs Harbour is feasible or not. It covers the description of the venture and innovation, the analysis of industry and market, analysis of competitions, assessment of entrepreneurs. And the next step for the starting business is also mentioned.
The new Chinese restaurant will be open in the small square along the main street in Coffs Harbour. It will provide the food that chosen carefully from the cities in south of China. This idea is innovative because it suites the social trends and demographic trends that more and more people require healthy food and the aging problem occurs.
However, this is only an idea; it needs to be carefully assessed if it wants to be an opportunity. The analysis of industry and market shows that it possible to open a new Chinese restaurant in Coffs Harbour. The restaurant and catering industry is going through a good time, and Chinese food has exploded in popularity in Australia. Furthermore, the market for the new Chinese restaurant is targeted the low and middle income groups in Coffs Harbour.
Apart from the feasibility of business, it is also necessary to analyze the competition in that area. Through evaluating each element of industry structure, threat of entry, barging power of suppliers and buyers, threat of substitutes, the competition from other restaurants is very serious.
To find the competitive advantages, SWOT analysis should be used in this report so that the entrepreneurs can make the strategies according to the competition and SWOT