Industry AnalysisIndustry Analysis

EntrepreneurshipEntrepreneurship

Business PlanBusiness Plan

HistoryHistory

How did you come up with this How did you come up with this business idea?business idea?

Is this a new industry or older one?Is this a new industry or older one?

Tell me how the industry evolved.Tell me how the industry evolved.How and When did it startHow and When did it start

How is your business going to be How is your business going to be unique in comparison to others.unique in comparison to others.

SizeSizeResource - Resource - http://www.nevadaworkforce.comhttp://www.nevadaworkforce.comHow many similar businesses are inHow many similar businesses are in– the local areathe local area– StateState– NationallyNationally

What is the size of your business and how What is the size of your business and how does it compare to others in the areadoes it compare to others in the areaWhat percentage of the market dose your What percentage of the market dose your industry make up?industry make up?

Growth PotentialGrowth Potential

Is there room for growth in the Is there room for growth in the industry?industry?– LocallyLocally– StateState– NationallyNationally

What is the current growth rate of What is the current growth rate of your business and how does it your business and how does it compare to the last few years?compare to the last few years?

CompetitionCompetitionWhat business is your biggest What business is your biggest competition? And Whycompetition? And WhyHow do you compete with other How do you compete with other businesses in your area?businesses in your area?Name several ways your business Name several ways your business can get and keep customers from can get and keep customers from your competition.your competition.What is your competition good at What is your competition good at that you can learn from?that you can learn from?

TrendsTrends

What are the popular items or What are the popular items or services in the industry? And Whyservices in the industry? And Why

Give a prediction on what items will Give a prediction on what items will be the next trend and why you think be the next trend and why you think so.so.

What are the benefits of knowing the What are the benefits of knowing the trends and how can you use that trends and how can you use that information for future inventory.information for future inventory.

OpportunitiesOpportunities

What trends can your business follow What trends can your business follow to increase sales or profit?to increase sales or profit?

What strategies will you use to What strategies will you use to become successful in the industry?become successful in the industry?

What opportunities do you foresee in What opportunities do you foresee in the first year of opening and how will the first year of opening and how will you take advantage of those?you take advantage of those?