Research & Reality Check

Would you like to send the completed form to yourself or someone else by e-mail? If so, please provide the following:

TRENDS AND INDUSTRY OUTLOOK

1. How are other businesses similar to yours doing? Are they healthy and profitable or declining?
   • If declining, how will your business buck this downward trend?
     
   • If healthy, how will your business compete against other successful companies?
     
   • Is there room for another company that sells the same types of products and services as yours?
     
2. Is technology changing rapidly in your type of business?
   
   • If so, how will your business stay on top of new technology?
     
3. Is yours a local, regional, national, or international business?
   
   • Do trends in your defined market area differ from national trends?
     
   • If so, why and how?
     
   • Is this a potential advantage for your company?
     
   • If so, how long do you expect your advantage to last?
     
4. Is now a good time for you to start your business?
   
   • Are there any advantages in waiting?
     

CUSTOMERS

1. Who are your customers?
   • Profile a typical customer in detail by professional background and affiliations, gender, age range, economic status, education level, and lifestyle preferences. If your customers are other businesses, profile by size, purchasing process, supplier requirements, and key decision-makers.
     
   • What features does your product have that will attract your ideal customer?
     
   • What evidence do you have that this group will select your product or service over those of competitors?
     

COMPETITORS

Make a list of your competitors.

• Direct competitors sell products/services similar or identical to yours, e.g., one hamburger stand competes directly with another hamburger stand.
• Indirect competitors sell products/services that customers could choose as an alternative to yours, e.g., a hamburger stand competes indirectly with a barbecue rib shack.

SUPPLIERS AND DISTRIBUTORS

Identify your key suppliers and distributors. Are they easily accessible? Well-established? Reliable? Do they also work with your direct competitors? Will your business be a top priority for them? What payment terms can they offer you: cash, C.O.D., credit? Can they form an alliance with your company to support your growth? Can you locate alternate sources of supply if necessary?

MANAGEMENT

1. Do you and the other owners have the expertise needed (legal, financial, marketing, distribution, etc.) to manage all aspects of your business effectively?
   
   If not, where will you go for outside assistance?
   
2. When will you plan to hire or consult with other professionals?
   

OPERATIONS

1. Where will your business be located?
   
   What are the advantages and disadvantages of this location?
   
   How much will your facilities cost per month? $ Per year? $
2. What kind of equipment do you need to produce a quality product cost effectively?
   
   Where will you get this equipment?
   
   How much does it cost?
   
3. What kinds of people, skills, and talents do you need to achieve your operational goals?
   Do you have these people lined up?
   
   If not, how will you recruit them?
   
   How will you compensate them?
   

FINANCIAL

1. How much money owners contribute to the business?

   Owner Name:		Cash Contribution:
   Owner Name:		Cash Contribution:
   Owner Name:		Cash Contribution:

2. How much additional capital will be required?
   
3. What financing sources do you plan to apply to?
   

   Source:		Loan Amount:
   Source:		Loan Amount:
   Source:		Loan Amount: