Jul 06, 2022
In Welcome to the Q&A Forum
Home based businesses usually require permission Job Function Email List from the local council to operate from the home. There is no point launching into a business which requires qualifications or licenses you do not have. Market and Customers You need to undertake market research Job Function Email List to determine the size of the market for your products and services and to profile the characteristics of both the market, your competitors and potential Job Function Email List customers. You should also assess whether you can offer something unique, better or different to the offers being Job Function Email List made by your competitors and determine likely purchase quantities and price points of your products. Your market research should also Job Function Email List include identify any issues which are likely to impact the market or the industry in the near future. Operational Issues Job Function Email List Operational issues such as business location and the type of facilities required need to be investigated and addressed. It examines the space required immediately Job Function Email List and assesses whether that will be adequate given your projected business growth at various timeframes. It asks how you will identify the most suitable location and type of space. It should also examine how Job Function Email List you will finance the required space. Will Job Function Email List your purchase, rent or take out a long-term lease? It examines the logistical aspects of Job Function Email List operating the business such as how will you handle, transport and store goods into and out of your business? What distribution channels will you use? Do you need transport such as a car, van, truck or forklift? What other plant Job Function Email List and equipment are needed to commence operations and what is needed over the life of the business? Management Skills This examines Job Function Email List the management aspects of the business. It asks what types and level of skills are required to run this particular business? Who will manage the business? What roles are required and who will fulfill those roles?