What benefits to the market does your product or service provide?2. How is your approach better than the competition?
Please add to the business plan already started. It will give you help with the business type, and a basis to work from. Each section needs to be as close to 500 words as possible. The location is in Virginia Beach. If there are any questions, please feel free to ask.
Section A: Business Concept:
Please describe the purpose of the selected company, including a detailed description of the product(s) or service(s) it offers to the market. Answer the following questions
1. What benefits to the market does your product or service provide?
2. How is your approach better than the competition?
Section B: Industry Analysis
Based on market research, complete an analysis of the industry. Please include the following:
1. size of the industry in units and dollars.
2. growth rate of the industry.
3. prospects for the industry.
4. average gross and net margins on sales in the industry.
5. major companies in the industry
Section C: Regulation and Legal Review
Research laws and regulations specific to the industry and answer the following questions :
1. Briefly describe laws and regulations that apply and explain how your business will meet those conditions.
2. How do you set up a local sole proprietorship within your community? (This was answered in the upload provided)
3. Address any legal, zoning, and licensing concerns your business will face. and any pending regulations which may have an impact on your business. (some of this was done in the upload)
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