Scouting the industry before the start up

Corzhens

Active member
Any business needs feasibility and viability studies before the actual start up. It seems that some businessmen have forgotten about this traditional procedure. I am posting this because a friend just lost money in his new business. It is a resort that has a huge capital. I am relating this to the logistics industry which also requires a good deal of capital. Check the market and the prevailing and potential competition. Gather data and have the numbers to show you the viability of the business even before you register your business.
 

Alexandoy

New member
I think the viability and feasibility studies are still important in any kind of business that you will start. Take the case of the internet café that a friend had opened years ago. It was supposed to be a best seller because there was no smart phone yet and free wifi was unheard of. But when the trend changed that free wifi has become common and the smart phone is a direct competition of the computers, that ruined the internet shop industry.
 
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