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Week 3 Article Responses: Evaluating Entrepreneurial Opportunities

Victoria is considering starting a business creating a new brand of fitness apparel. There is proven demand for fitness clothing as more people are interested in working out. Victoria wants to design outfits that make people feel proud and confident when working out using high quality fabrics. Initially, Victoria plans to sell products on websites like Amazon and eBay but may eventually create her own website. Online marketing and social media will be important tools to promote the brand. With fair pricing, Victoria expects gross margins over 50% and the business could become sellable if profitable. Victoria is passionate about designing new outfits and would find running the business fun and interesting for many years.

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Victoria Arruda
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54 views2 pages

Week 3 Article Responses: Evaluating Entrepreneurial Opportunities

Victoria is considering starting a business creating a new brand of fitness apparel. There is proven demand for fitness clothing as more people are interested in working out. Victoria wants to design outfits that make people feel proud and confident when working out using high quality fabrics. Initially, Victoria plans to sell products on websites like Amazon and eBay but may eventually create her own website. Online marketing and social media will be important tools to promote the brand. With fair pricing, Victoria expects gross margins over 50% and the business could become sellable if profitable. Victoria is passionate about designing new outfits and would find running the business fun and interesting for many years.

Uploaded by

Victoria Arruda
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Victoria Arruda

GEB-2112
Dr. Cutter
02/28/2020

Week 3 Article Responses: Evaluating Entrepreneurial Opportunities


1. Will this business support the lifestyle I want?
If I’m able to conquer a large number of customers and have a solid constant number of sales I
believe I will be able to support the lifestyle I want. To get there it might take a couple of years,
since creating a new brand of fitness apparel might not stand out at first. I will need to work
hard on selling and getting my brand name known in order to increase my profit.

2. Is there proven demand for the product I am going to sell?


Yes, the fitness world is growing a lot. More and more people show interest in getting fit,
staying healthy or practicing sports. Gym outfits is something people love and are always buying
more.

3. Is there a clear value proposition that will make my product unique in the
marketplace?
Yes, I’m creating my brand because I fell the lack of uniqueness in gym apparel. I want to design
outfits that will make people feel proud wearing. People will fell comfortable and confident
while working out. The excellent quality fabric I plan on using will make people like how they fit
into the outfits.

4. Is there a clear way to market and sell my product or service through existing
channels?
I’m still thinking what’s the best way to start selling. A lot of new brands start selling on big
websites such as Amazon or eBay. This way I believe people will feel more secured when
buying. Another way is by creating the brand’s own website, which might take longer for people
to know the brand.

5. Can I leverage online marketing and social media to grow this business?
Yes, I believe online marketing and social media are the most influential tools nowadays. By
advertising a product online, you have more chances to get known by the public and receive
good feedback on sales.
6. Will this business have gross margins of at least 50 percent and/or net margins of at
least 20 percent?
Yes, the prices won’t be too high compared to competitive brands. By keeping prices fair I
believe demand will grow and more people will be willing to try out the apparel. This way I will
have a gross margin of at least 50 percent.

7. Can this business become a sellable asset?


Yes, If the business is going well and profit is proven to exist, it can be easily sellable. It will be
an easy business to operate.
8. Can I automate the majority of the operations of the business?
Yes, I will be able to work on almost all aspects that will run the business. I will be managing the
marketing, expenses, financing, online website and clothing design.
9. Can I easily find someone to successfully run the business for me?
It wouldn’t be easy since I’m creating this business as a passion. I would want to find someone
that will feel the same way towards the business.
10. Is this a business that I’ll find fun and interesting to run today?
Yes, it will be a unique business. The best part will be crating the new outfits and personalizing
everything. It will be exciting to play with textures, colors etc.
11. Is this a business that other people will find fun and interesting?
I believe yes, for people that like the fitness world I think they will find my brand interesting. It
will be something unique and hard to find.
12. Is this something I’ll still be willing to run seven years from now?
If the business is growing and showing results I don’t see why stop. I believe I would keep
running the business for years and years since It’s something I love.

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