Is Your Business Idea Feasible?Written by Darrin F. Coe, MA
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– consider rent vs. purchase – consider traffic – consider possible renovation and remodel costs a competition study – consider how they could improve their location and costs involved – study their product/service and what costs might be involved in improving different aspects such as – delivery and distribution – quality – marketing presentation – what’s competition’s unique selling point and can you improve it? – what would be potential costs for improvements and can you sell improvements for a profit?-- A feasibility study should produce accurate information concerning potential costs for rent, taxes, utilities, licenses, advertising, renovation/remodeling, and labor if you dig deep enough. -- All of this information will prove vital to you when it comes time to produce your business plan and pursue financing for your project. You’ll have good numbers to make financial and marketing projections in a pro forma manner. – Take time to study business idea feasibility it will prove a powerful tool for success.
Darrin Coe is a weekly columnist and author of the ebook, Micro Loans: Finance Your Dreams available at http://dcoe1.tripod.com/microfinance
| | American Institute of Food Distributors renews gomembers’ support agreementWritten by gomembers, Inc.
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gomembers' membership, meeting, event planning and related solutions are used to improve operating efficiencies, enhance member services and enable interaction with and between members. Meeting and convention planning software products enable customers to coordinate virtually all of required functions for complete event management. All gomembers’ products are built using latest technology including Microsoft’s .NET framework. gomembers sells its solutions through a direct sales force and provides a wide range of customizations, training and support service to their customers. For more information on gomembers' solutions, please visit Products section of our website. www.gomembers.com
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