Referring to the same business you either started or purchased in the first assignment, write a 6-8 page paper in which you:
Your assignment must follow these formatting requirements:
The specific course learning outcomes associated with this assignment are:
part one of the question already done.
This part of the assignment is connected to the first part of the assignment that you completed for me a few weeks back.
Here is the answer to the question.
The new business that I would like to start would be a business for women that are tall. It hard to find womens clothing especially pants for tall women. So this would be the business that I would start.
My potential customers would be women that are tall and can not find pants in the length that they need. I would have to see how large is the market for the business that I want to start. I would make sure that the store would be accessible to everyone.
I would check out my competition to see if there is any and how their business is doing. Since I have never seen a store for tall women I think that I would be ok.
Hoping the market growth will be fine so that I will not have an uphill battle.
Creating the business plan is essential to the success of the company. The first thing would be is the reality test. Is there a market for the product that you are selling. To what extent does this level exist. Will the company be able to deliver the product for the cost that is predicted. Once I know all of this information I can then decide it I would like to move forward with the business. The competitive test follows this stage and measures the company’s strengths and weaknesses against the industry’s competitors and tries to evaluate whether it can gain market advantage over those competitors. It is also an expression of the management team’s ability to achieve that market position.
The one thing that can be done is to do the reality test and the competitive test to see if it may be beneficial since there are so many things involved with getting the business up and running. You want to see if there may be some areas that my overlap, such as product cost and other things.