Industry
review Research industry averages for profitability in your
marketplace. Use this information to determine the validity of
your own projections and make changes if necessary. Regulation
review and
legal
concerns Determine your location and business environment. Address
all legal, zoning, and licensing concerns your business will
face. What form of business will you set up? Why? The level
of detail required for this section will depend on your type of
location (virtual, retail, warehouse, office, restaurant, etc.)
and on your idea. Demonstrate that you have completed your
research. Don’t say, "We will obtain all of the appropriate
permits"; instead, summarize them. When you explain your
form of business, remember your audience. For example, if
you select an S corporation, explain your reasoning for that
selection in the context of your potential business rather than
providing the definition of an S corporation. Address any
pending regulations that may have an impact on your
business. Competitive
analysis Describe the competitive landscape. Who are the key
competitors? What are their strengths and weaknesses?
Approximate their market shares. How will you take share
from them? How will they most likely try to stop you if you are
successful? Who are your indirect competitors? What do they
offer your prospects? SWOT
analysis Identify your company’s major strengths, weaknesses,
opportunities, and threats. Describe how you plan to
maximize your strengths and opportunities and minimize or
mitigate your weaknesses and threats. Industry
Analysis
Totals This section will give the reader an understanding of the
overall industry with specific facts and figures. Data are
critical in this section, because you must specify the size of
the market and show how you plan to capture the market.
You should also have an overview of the competitors in your
space. Background
The Business idea we are presenting is for online retail service. Our society is moving fast with
technological advancements and our concept helps in delivering the ultimate results in retail
experience for the customers according to their own requirements and needs. Similar to Amazon
or eBay we are providing an online retail service with a website where consumers can buy or sell
products. What makes our idea unique is that we are incorporating the service aspect to the retail
products, based on the need of the customer where they can not only purchase the product, but
also obtain services related to the product according to the customer’s needs.
For example, anyone can buy a basketball hoop from online and have it delivered to their home.
With our service aspect one can request and bid on service prior to the purchase; which in this
case would be whether they need help unloading, assembling or installing the product. A request
can be placed and the customer will be provided with a quote for the service prior to the purchase. The target audience would be any consumer. By using social media marketing, we
obtain the quotes for the services prior to the listing of categories. If a consumer needs service
for the retail product, it will be presented with a feasible quote and they have the freedom to make
the decision on the service. Industry Analysis
1.1. Industry Review
Text 1.2. Regulations and Legal Environment
Text 1.3. Competition
Text 1.4. SWOT Analysis
Text
