Homework
Details
Clients hire professionals to research market behavior and industry trends, which are paramount to assessing the viability of establishing a new business, expanding one, or closing one in a specific geographic area.
Because a business plan requires a significant investment of time and capital, a business often undertakes an initial study to determine whether the market is ripe for a new idea. You will create a feasibility study for a client that provides research to either support or question the viability of a business start-up. Usually, a feasibility study includes a financial analysis, but the client already completed that assessment and finds the project viable from a monetary perspective. Follow these guidelines:
A. Geography: Select a U.S. city and a specific address for the proposed business.
B. Type of business: Select a simple, small business (it should be in an industry with which you have familiarity).
You are not permitted to use a business concept or any research that was completed in a prior course or done in real life. The goal of the project is to create an entirely original report.
Your report should include the following:
C. Background: Give a very short, 1-paragraph description of the geographic location (use the city's Web site or other government source for this section).
D. Define the market: What are the trends in the market? What is the current and projected demand for the proposed product or service?
E. Define the target market: Include its common characteristics and the area's population of this specific market. Is there competition? Can you differentiate or establish a niche market?
This section of the paper will be 3 to 4 pages in length. For this section, you must use a combination of information from Census data, BLS, Hoover's Pro, and articles from the library's full-text databases. Note: The library's Proquest newspapers may be particularly helpful. Do not provide content without solid research to back up each statement.
F. Organizational and technical issues
a. How does a company register a corporation in the target state?
b. Describe the costs and process to set it up in the state, and include a link to the required paperwork.
c. A Small Business Administration (SBA) licensing and permitting database may be found.
G. Feasibility Analysis
a. Analyze the research, and formulate a decision on viability.
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
References
• U.S. Bureau of Labor and Statistics. (n.d.). Home page.
• U.S. Census Bureau. (n.d.). Home page.
• U.S. Small Business Association. (n.d.). Apply for licenses and permits.