Business Plan Crafty Coffee Blog Shop How To Choose Whats Plans For Shops
By Agrican Cuillerier at October 28 2018 17:01:42
Small business consultants are very much on top of their game. They compile industry reports relating to the business, conduct feasibility studies, as well as studies relating to potential customers.
While these are easily available online, some of them are way better than the others. A lot depends on the approach that goes into writing the business plan.
Risk Assessment - What weaknesses are inherent in this venture? What vulnerabilities face this type of venture? What impact will these have? What new technologies may affect this venture over the next 1 to 3 years? What contingency plans are in place? What level of liability insurance is required? What does it cost? Who is the carrier? Possible Data Sources: trade associations; trade journals; Service Corps of Retired Executives (SCORE); industry salespeople; customers; focus groups.
Industry Analysis - How does your product or service compare with what is currently on the market? What is the trend in the overall industry? What have been the total sales in this industry over the previous 3 to 5 years? What new products or technologies have had the biggest impact on this industry recently? What is the future outlook for these and what trends are emerging? Who are the competitors, where are they located, and how are they doing? What advantage do you offer over them? Who is buying this product or service now? Describe the typical customer for this product or service.
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