This area of your business plan should accommodate all pertinent information
about your competition, including the breadth of time they accept been in
business, area they are located, and what their boilerplate anniversary sales are. You
will appetite to assay the following:
• The affidavit abaft their success
• What they do appropriate and wrong
• What barter are attractive for
• How those needs are actuality met by your competitors
• How those needs are not actuality met
The Internet sites listed in the Secondary Research area can advice you
fill in this information. Getting some good, solid abstracts about your competitors
will affect investors and advise you affluence in the process.
In addition, you should explain how you apperceive your business will
compete in agreement of strengths and weaknesses compared to the strengths and
weaknesses of these competitors. Explain how you intend to affected your
competition and your expectations of the appulse your aggregation will accept on
their business. Consider how able-bodied your antagonism satisfies the needs of potential
customers. Determine how you fit into this account and what niche
you plan to fill. Will you action a bigger location, convenience, a bigger price,
later hours, bigger quality, or bigger service?
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