💡 Part 1: Understanding Business Opportunities

1. What is a business opportunity? (Circle the best answer)

Any idea for making money

A gap or need in the market that can become a viable business

A product that already exists in the market

A business that requires no research

2. Which factors help identify good business opportunities? (Tick all that apply)

Market research and customer surveys

Identifying problems people face

Following current trends

Copying existing successful businesses exactly

Understanding your competition

3. A competitive advantage means:

Being the cheapest option available

Something unique that makes your business stand out from competitors

Having the most employees

Opening the earliest in the morning

4. Market research helps entrepreneurs by: (Circle the best answer)

Guaranteeing business success

Providing data about customer needs, market size, and competition

Eliminating all business risks

Making decisions for the entrepreneur

🔍 Part 2: Evaluating Business Ideas

5. Look at this scenario: "Sarah notices that students at her school often forget their lunch and have limited healthy food options nearby."

a) What market need has Sarah identified?

b) Suggest a business opportunity that could address this need:

c) What competitive advantage could Sarah's business have?

6. Complete this sentence about market research:

Before starting a business, entrepreneurs should research _____________ to understand customer needs, _____________ to know what other businesses offer similar products, and _____________ to estimate how many potential customers exist.

7. List three questions an entrepreneur should ask when evaluating a business opportunity:

Question 1: _________________________________________________

Question 2: _________________________________________________

Question 3: _________________________________________________

💼 Part 3: Your Business Opportunity

8. Think about your local community or school. Identify one problem or need that could become a business opportunity:

9. For your identified opportunity, explain:

a) Who would be your target customers?

b) What makes this opportunity viable (likely to succeed)?

c) What information would you need to research before starting this business?

Identifying Business Opportunities

Identifying Business Opportunities

💡 Part 1: Understanding Business Opportunities

🔍 Part 2: Evaluating Business Ideas

💼 Part 3: Your Business Opportunity

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