Opportunity Analysis of New Business Venture 03067 Essay

Opportunity Analysis of New Business Venture 03067 - Essay Example A major advantage of the photography business is the low barriers to entry. Additionally, the capital investments are also low as compared to other conventional business sectors. The manpower requirements are also little. Major investments in such a business category are primarily incurred in respect of technology such as procurement of highly efficient cameras (Bowman, 2012). The current paper analyses the feasibility of the new business venture ‘Clickpix’. Clickpix would be a professional photography studio, which expertises in still photography. The company would provide photography services for special occasions such as weddings, birthdays, anniversaries, corporate parties, baby shower and so on. It would also provide non occasional casual photography services. Apart from providing the photographs through albums and mails, the company would also provide services such as engraving and imprinting photographs upon different materials such as tiles, clothes, showpiece items, key rings, wall clocks, coffee mugs. Photo framing services in different and unique forms would also be provided. The company would facilitate its clients with customized photography and photo presentation services. Clickpix aims to specialize in portrait photography. The business would be to set up at a prime location in the city of Ottawa. Ottawa consists of the most ed ucated population of Canada and is considered to be the nation’s cultural hub. The standard of living in the nation is seen to be high leading to elevated income earning potency. Due to the existence of such high standards of living, residents of the city are used to luxurious living. Such factors are likely to create more opportunities for the growth of Clickpix as the spending power of the target population especially on luxury products and services is considerably high (Pomfret, 2013). Every business plan requires careful opportunity analysis so that suitable techniques can be