Practical no : 5

Title: Identify the business opportunity suitable for you.

Practical Significance: This practical is to know various business apportunity on the basis of
given data circumstances with justification.
Relevant Program outcomes (PO’s): Po1, Po2, Po5, Po6, Po6, Po10.
Competancy and Practical Skill: This practical is to about the various business apportunity.
Relevant Course outcome (CO’s): Justify the business apportunities that suits you.
Brief Theory:
Legal definitions vary; in its simplest terms, a business opportunity is a packaged business
investment that allows the buyer to begin a business. The Federal Trade Commission and 25
states regulate the concept. A business opportunity, in the simplest terms, is a packaged
business investment that allows the buyer to begin a business. (Technically, all franchises
are business opportunities, but not all business opportunities are franchises.) Unlike a
franchise, however, the business opportunity seller typically exercises no control over the
buyer's business operations. In fact, in most business opportunity programs, there's no
continuing relationship between the seller and the buyer after the sale is made. Although
business opportunities offer less support than franchises, this could be an advantage for you
if you thrive on freedom. Typically, you won't be obligated to follow the strict specifications
and detailed program that franchisees must follow. With most business opportunities, you
would simply buy a set of equipment or materials, and then you can operate the business
any way and under any name you want. There are no ongoing royalties in most cases, and
no trademark rights are sold.

Goal: -To find the business opportunities

Ideas: -

1.E Bikes shop & Dealer

2.Cafe management
3.Card designer
4.Watch making
5.Book publisher

Reduction of above listed ideas according to our perspective: -

1.E Bikes Shop & Dealer

2.Electrical Contractor
3. Brokers
 

Analysis the selected ideas: -
1.Current affairs Book publisher :-

To become a E Bikes Dealer I should have good contacts in market.

 
I should have a good experience of work in that field.

I should have proper knowledge of products rates in market.

I have to work on it at very low level for experience of it.

I should have sweet voice as well as good knowledge about E Bikes andneeds of market.

 
2. Electrical Contractor:-
 
To become an electrical contractor I should have a good circle of othercontractor.
 
I should have good contacts among different-different builders.

I should have knowledge of materials quality and its rate used in this field.

Will I be able to maximize my profit in this field?

How will I be able to make good circle of contractors and builders?

3. Brokers: -

To become a broker in any field I should have good contacts among buyersand sellers.

I should have proper knowledge of up’s and down’s in market.

I must build a healthy relationship between my clients.

How will I make profit by becoming a broker?

How much profit margin should I must maintain among my clients?

Reasoning of selected idea: -

I have selected this business idea because I have a good contacts in market.

I have contacts among different-different E Bikes shops.

I have maintained a good relationship with them.

I have Proper knowledge of E Bikes their rates in the market.

I can also encourage customers to use my product and their importance.

I can give good offers on my products to attract customers in my shop.

Result: Thus, I identified the business apportunity which is suitable for me.

Conclusion: Hence, I have successfully performed the practical.