Market analysis
The Right Way to Start Your Coffee Business
So you want to start a coffee shop business? To build what could beat the Starbucks monopoly may be a far-fetched idea if you’re just about to start a coffee business but it does not hurt to dream big. Dream big, start small and value the importance of working hard for it. The presence of [...]
Evaluating an Opportunity
Business opportunities are often based on broad trends, such as:
• demographic, such as the “graying” of America (creating opportunities in health services, for example);
• sociological developments, like the “green” movement, with its emphasis on recycling and environmental sensitivity, and;
• cultural changes caused by changing economic conditions and technological developments.
Opportunities can also frequently be found in [...]
Let the Market Speak!
The first and most logical step in whether or where to start a business is to conduct a market analysis. For a retail business, a few general locations should be chosen for detailed analysis to identify where the opportunity is greatest.
A market analysis is a study of the market area and of probable future patterns. [...]
