BUS357: You Are Thinking of Starting a Business at KAP Mall You Reckon that Since you are Studying at SUSS: Starting and Managing a Business Report, SUSS, Singapore

Background
Kap & Kap Residences is a mixed-development located prominently in the heart of King Albert Park, along Bukit Timah Road. The mixed development has upmarket residential and retail/F&B. The residence has 142 housing units. The site used to be McDonald’s Place. The ‘TOP’ was obtained in 2016. The development is owned by ‘Eagle Wings’ Group.

During the initial period, the mall could not attract tenants; leading to over 20 units at the mall owned and rented by Eagle Wings and related parties, including a private cinema. The take-up by tenants had subsequently increased and KAP Mall now has a mixture of tenants. The mall is situated in a sought-after residential area. It is also next to SIM, SUSS and Ngee Ann Poly.

The Mall hence has the potential to serve the needs of the Kap residents, the residents of the surrounding residential districts and the students at SIM/SUSS/Ngee Ann poly. The site is also relatively convenient to get to being served by King Albert Park MRT station and is easily accessed by driving via PIE and Bukit Timah Road.

Question 1
You are thinking of starting a business at KAP Mall. You reckon that since you are studying at SUSS, it would be a convenient place to operate a business.
You need to decide on the business to commence. It can be any business but you need to justify why the chosen business is appropriate for KAP Mall. Appraise your business concept and examine the opportunity by preparing an ‘opportunity assessment’ report. Your report should include:

1. Product/service idea section to include: –
1.1 A description of products/ services
1.2 The market needs for products/services
1.3 The specific aspects of products /services
1.4 Is this need met by competitors?
1.5 The competition, and
1.6 The value proposition

2. The business model: –
2.1 What are the revenue streams?
2.2 What are the main cost drivers?
2.3 Are there any critical success factors?

3. The entrepreneur and it includes: –
3.1 Reasons for the excitement from the opportunity,
3.2 How the opportunity relates to you in terms of experience/ skills matching,
3.3 What business skills you possess and other business skills required and where to get those from.