Whether you will be starting a daycare or opening a shop, one of the most important things you can do is take the time to do plenty of research. Begin by finding out the demographics for your area. A free resource is USA QuickFacts. Demographics tell you whether there are young families in your area, how much cash people have to spend and even how many people own a home.

Once you do this preliminary research, find out who else is already targeting your market. Grab the yellow pages and check with your local chamber of commerce for a list of businesses. Then, consider whether you can do something better or different than those businesses. Now, you’re ready to begin planning your new business.

Originally posted on April 11, 2006 @ 8:16 pm


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