Cw1- Opportunity Scrapbook

In: Business and Management

Submitted By kanielk
Words 1382
Pages 6
University of Westminster
Westminster Business School

BMKT 510.1: Developing Practical Entrepreneurial Ideas
Coursework 1: Opportunity Scrapbook

Student Name: Kaniel Kalarikkal
Student ID number: W15142771

Module Leader and Team Coach Name: Jane Chang

Word Count: 837
Date: 04/11/2015

As a facilitator or a middleman business between textile companies, we aim to help connect buyers and sellers of surplus or waste materials used in manufacturing their product. We would do this by first looking to get large manufacturing companies since they are most likely to have excess raw material stock. At first we would look to deal with mainly the textile industry and then would look to expand to various other materials thus expanding the scope of our target market. The objective of my company would be to help textile manufacturing companies find suitable buyers and sellers for surplus or waste textile materials. These supplies are just left in storage, disposed of, or the enterprises must themselves go out to find suitable purchasers. Instead of these manufacturers actually spending any of their time or resources, we would be helping them find buyers. The term for this sort of market is “Industrial Symbiosis”. What this means is an association between two or more industrial facilities or companies in which the wastes or by-products of one become the raw materials for another (Wrap.org.uk, 2015). The potential market we would be looking at is secondary sector companies in the textile industry in the UK. We would like to start off with small textile manufactures; hence they would be looking to buy the raw materials for cheap in order to cut down costs and would not want to spend their time and resources looking for a cheaper way to purchase the textiles. There is already a market for buying and selling of excess…...

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