– The Environment and Industry
-What industry is your business idea in? Think in broad and narrow terms. You should include details such as the degree of differentiation, cost structure, history, industry trends and whatever else you believe is relevant.
– Discuss any major environmental trends (i.e. demographic, economic, technological, legal and/or political) on a local, national and international level that may influence your proposed business idea or market area.
– Competitive Analysis
-Identify and profile your major competitors (Pricing, strategies, strengths and weaknesses, etc.). Be sure to consider substitute products or services that would substantially affect your business idea. How will your product or service compete? Be objective!
-What are your projected expenses? Again, it is not necessary to be extremely detailed in your expenses. However, a rough estimate it necessary in order to consider how profitable the business idea is and whether it is worth pursuing.
-What is your projected profitability? What confidence do you place in this estimate?
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