Business Administration - Entrepreneurship and Small Business EBM530 Chapter Notes - Chapter 2: Business Directory, Statistical Inference, Snow Removal
28 Oct 2016
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Feasibility: the likelihood that a concept or plan could work. Market research: gathering and organizing information about groups of potential customers: assembling information on potential customers: How much they spend on a particular item. Marketing research: gathering and organizing information about the process for getting products or services to customers. Location: where you"re selli(cid:374)g to, who(cid:373) you"re selli(cid:374)g to, relevant to your customers. How many potential customers could walk pass: visibility. Potential customers will see before they come in: neighbouring businesses. Complementary business: a company that sells products or services different from yours, but to the same potential customers: same customers, sells them something different. Depends if your selling something to do with homes. But you may not be taken seriously, if you need an office: zoning restrictions. If for business purposes, business expenses can be: Leasing a location: can move, make demands of the landlord, meet changes of the market, everything is negotiable.
