Industry Analysis

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Industry Analysis

1. Define the geographic area you will target. Is it a single town, a multi-state region, an international marketplace?
   
2. What is the total population of your target market?
   
3. How large is the customer base within this target market? That is, how many individuals or companies will use a product or service like yours in a given week, month, or year?
   
4. What is your expected share of this market? In other words, how many people or companies do you expect to use your product/service in a week, month, or year?
   
5. Is your overall industry growing or declining? Is it profitable or unprofitable?
   
6. Are there any new technological advancements, either within the industry or outside of it, that will affect the way you do business?
   
7. Describe the general characteristics of the people or companies who typically buy your product or service. Consider age, income, lifestyle, profession, and any other factors that may influence a buying decision.