Introduction
With the most significant raw materials, Nicolas Minoglou and Christina Martini started the company Ancient Greek Sandals in 2010 during the Greek economic crisis. They produce high-quality, handcrafted leather ancient sandals. The business, which is situated in Oinofyta, Greece, has succeeded in developing a new Greek fashion line that is well-liked by consumers worldwide. The business opportunity that Nicolas Minoglou and Christina Martini took with Ancient Greek Sandals will be assessed in this article utilizing a set of opportunity evaluation standards.
The Business Opportunity
Market size and growth are among the most important factors to consider when assessing a business opportunity. The demand for premium, handcrafted leather sandals is significant, and the business has experienced 100% growth since its start. This implies a sizable market for their goods and that this demand will likely continue to rise.
The competitive environment is a crucial additional factor (Adel Rastkhiz et al., 2019b). Although other businesses may make handmade leather sandals, Ancient Greek Sandals stand out from their rivals thanks to the owners’ distinctive concentration on ancient Greek motifs and premium materials. This distinctive strategy gives the business a competitive edge and increases the likelihood that it will be able to gain market share.
A company’s sales and distribution channels are equally crucial to its success. With agreements with well-known stores like Colette and Net-a-Porter and exports to 40 different countries, Ancient Greek Sandals has developed a robust distribution network. As a result, the corporation has access to an extensive consumer base, increasing the likelihood that its products will be profitable.
Another crucial factor to take into account when assessing a company prospect is intellectual property (Adel Rastkhiz et al., 2019). Based on ancient Greek designs, Ancient Greek Sandals has a distinctive design philosophy for its footwear. This might be seen as intellectual property, giving the business an advantage over rivals.
Conclusion
In summary, Ancient Greek Sandals is a company that has developed a distinctive method for producing premium, handmade leather sandals based on ancient Greek patterns. The business has a sizable and expanding market, a specific product, and a potent sales and distribution plan. The possibility for Ancient Greek Sandals is good because of its excellent management team and intellectual property. The company has been successful thus far, showing that they are in an excellent position to grow.
Reference
Adel Rastkhiz, S. E., Mobini Dehkordi, A., Yadollahi Farsi, J., & Azar, A. (2019). A new approach to evaluating entrepreneurial opportunities. Journal of Small Business and Enterprise Development, 26(1), 67–84. Web.