Business Planning

Introduction

  Identifying whether business idea is a business opportunity implies the acknowledgment if an idea has an actual profit-making potential. This potential can be expressed in a systematic way by preparing a comprehensive business plan. Evaluation of all ideas generated is very crucial as an entrepreneur has to understand what kind of complications and challenges, he or she might face while launching particular ventures. Therefore, the opportunity analysis plays a vital role in making sure that the entrepreneur is running on the right track.

My Business Idea

  For any entrepreneur, business idea is not only a model that can be exploited to gain wealth, it usually is something what they are really passionate about, somewhat they want to invent or improve an already existing product or service. Talking about a business idea that I feel enthusiastic about and I think would be exploitable is opening an affordable Japanese Teppanyaki restaurant in my home city, Almaty. There are several reasons why I assume this particular business idea would actually gain much interest in the above-mentioned city. First of all, Japanese cuisine has been recognized as the intangible cultural heritage, according to UNESCO since 2014, however it had already been popular all over the world for several decades even before the announcement (Highlighting Japan, 2014).  Whereas, teppanyaki is traditional Japanese style of preparing beef and other types of meat, marine products and various greens on a massive iron grill just in front of the diners sitting around the griddle (Asia food, 2012). Thus, the chef not only prepares dishes in front of customers but also demonstrates his artful skills of cooking with the use of special knifes and slicers, plays with the flames and so on (Nano Japan, 2014). Hence, I think people in my country would also highly rate and enjoy the flaming show and the aromatic dishes. Secondly, teppanyaki cooking has already gained numerous admirers in the US and some European countries, however none teppanyaki restaurants have been opened in Kazakhstan until now. Similarly, I think locals would be curious to experience some new cuisine cooked in a totally innovative way. Lastly, even though teppanyaki restaurants are usually located at finer hotels and are typically quite costly in Japan, other countries have come up with the idea of affordable teppanyaki stalls available at food courts, which is exactly what my business idea involves - to launch an affordable teppanyaki store within a food court in one of the most visited malls in Almaty, the largest city of Kazakhstan.

Is My Business Idea a Real Opportunity?

  In order to evaluate if my business idea has a real commercial potential, David Rae’s DIFA model to be applied. It states that an actual business opportunity has the following characteristics:

 [pic 1]

                Source: (Rae, 2015)

In this way, the DIFA model for my business idea would look as follows:

  Demand: The main targets of my business are families, office workers, teenagers or just a bunch of friends who look for original and affordable nicest places to dine at, or who are just walking around in the mall. Thus, there is a clear customer base available for the restaurant, as customers are easy distinguishable.