1. Identify all businesses in the geographical area you intend to serve which sell the same types of products, or offer the same types of goods or services, which you plan to offer. Write down their company names, and describe what they do which competes with what you intend to do or sell.
2. Do your best to determine how many dollars’ worth of business they do annually and how many employees they have, etc. (e.g. count the cars in the parking lot at 8:00 AM and 5:00 PM).
3. Write down the competitors’ locations, street addresses, and estimate the size, in square feet, of their facility(s). Describe their facility and its features in writing for future reference. Plot their locations on a map.
4. Drive past their locations to observe the physical location closely. Write out a complete description of what you see. Include your impressions and comments on the quality … Read More