1. Objectives To understand the 4 key categories of business idea
To identify your own examples of these
To understand what is meant by ‘franchising’ and the advantages and drawbacks of such an approach

2. Generating Business Ideas
1. Spotting Trends
Innocent drinks driven by a social drive for a healthier lifestyle
2. Identifying Market Niche
Spotting a gap in the market like Red Letter Days – something for executives who have everything (although they have now gone bust!

3. Generating Business Ideas
3. Copying ideas from other countries
Starbucks introduction of expresso to US
Car sharing from Germany
4. Scientific
James Dyson’s bagless vacuum cleaner

4. Although we read in the news of people making £20m over night – lots of hard work goes into the development of the businesses “5% inspiration, 95% perspiration”

6. Spotting social trends Finding a niche market
Come up with at least one more real example of a business for each of the four areas:
Spotting social trends
Finding a niche market
Finding ideas from overseas
Taking a scientific approach

7. How did you do? Spotting trends : Street Car/ ZipCar
A Market Niche : Worthenshaws
Ideas from overseas : Red Bull
A scientific approach : The Magic Wand Co.

8. What is a Franchise? Franchising Industry turnover £10.8bn
No of 33,900
Employment 371,000
Ave investment £50,500

9. Using the hand outs argue for or against starting a Franchise
Using the hand outs argue for or against starting a Franchise... You have £50,500 and want to start a Pizza restaurant argue whether it should be a Macs Pizzas or a Pizza Hut.