Building a Business Plan- Step Two Analyses- Industry, Environmental, Competitive You have a business idea! It is going to make you millions, right? Well, possibly. However, investors will want to see how your new product or service fits within the existing business climate. Answer the questions below (see pgs. 87-88 in your text). How big is your market and is it a rising market or falling market? How big will your company be? What is the rate of success or failure for your market? (Example: Happy Hoppy Company is a rather unique market, specializing in rabbit awareness, distribution, and proper care. It is difficult to gauge if the specific rabbit industry is rising or falling but in a broader market, the pet industry is a 15 billion dollar industry and the rabbit market is part of that. Initially the HHC will consist of four people: Scott Russell, Owner; John Mayberry, Marketing; Susan Valenzuela- Office Manager; Davis Todd- Rabbit Breeder and Expert.) How will the business fit into the community or communities it will be operating in? Are there regulatory or other licensing that must be obtained? (Example: Happy Hoppy Company will be based in West Virginia. The rural communities in the area are accustomed to livestock and animals. Proper business licensing and an endorsement from the West Virginian Human Society have already been secured. HHC is well known in the area and has established good rapport with other animal-centric businesses. The latest in technology and proper care facilities are used at HHC so the rabbits are kept healthy and happy.)
Building a Business Plan- Step Two Analyses- Industry, Environmental, Competitive You have a business idea! It is going to make you millions, right? Well, possibly. However, investors will want to see how your new product or service fits within the existing business climate. Answer the questions below (see pgs. 87-88 in your text). How big is your market and is it a rising market or falling market? How big will your company be? What is the rate of success or failure for your market? (Example: Happy Hoppy Company is a rather unique market, specializing in rabbit awareness, distribution, and proper care. It is difficult to gauge if the specific rabbit industry is rising or falling but in a broader market, the pet industry is a 15 billion dollar industry and the rabbit market is part of that. Initially the HHC will consist of four people: Scott Russell, Owner; John Mayberry, Marketing; Susan Valenzuela- Office Manager; Davis Todd- Rabbit Breeder and Expert.) How will the business fit into the community or communities it will be operating in? Are there regulatory or other licensing that must be obtained? (Example: Happy Hoppy Company will be based in West Virginia. The rural communities in the area are accustomed to livestock and animals. Proper business licensing and an endorsement from the West Virginian Human Society have already been secured. HHC is well known in the area and has established good rapport with other animal-centric businesses. The latest in technology and proper care facilities are used at HHC so the rabbits are kept healthy and happy.)
Building%20a%20Business%20Plan%20Part%202.docx