FINWEEK asked three experts, who know what it takes to start an enterprise, to give their views on the five business ideas.
CHRISTO BOTES, executive director of Business Partners’ Egoli business unit, said it was difficult to assess a business idea properly on the basis of a “short fact sheet”.
“I would like to comment on each case and even have the opportunity to talk to the entrepreneurs, because, for me, more than 60% depends on the person who’s going to make the business work. An entrepreneur must be realistic about his business idea.”
PROF JAPIE KROON of the North-West University, where he is programme leader and professor in Entrepreneurship in the School for Entrepreneurship, Marketing and Tourism Management, also had reservations, which he added briefly to his assessment of each individual case.
As a partner in the consultation company, Franchising Plus, ERIC PARKER, himself an entrepreneur (who founded Nando’s and others), constantly comes into contact with new ideas and companies. He says the five companies basically all seem to be well developed. “In my assessment, I took into consideration the market in which they are operating, the competition, the ease of establishing a brand and how easily it can be imitated.”
Since the experts had to risk an opinion on the basis of the short descriptions, we asked them merely to indicate whether they thought each idea was brilliant and would definitely work, wasn’t anything special but could work, or would probably not make it.
The opinions of the three experts appear at the end of each story.