Maria Rossi just applied for a bank loan to finance an Italian restaurant she wants to launch.
Question:
Maria Rossi just applied for a bank loan to finance an Italian restaurant she wants to launch. When visiting a banker about a loan application, a question posed to her was if she had results from any primary research to assess the feasibility of her proposed business that they could discuss. Maria replied that she had spent many, many of her evenings and weekends in the library and on the Internet collecting information about restaurants in general and specifically about Italian restaurants.
Furthermore, Maria noted that the information collected through these efforts increased her confidence that she could open and operate a successful restaurant.
One reason for her confidence, Maria noted to the banker, was that she conducted her library and Internet searches in ways that allowed her to verify that Italian restaurants did well in demographic areas that are similar to the one in which she wants to open her business. If you were the banker, what would you say to Maria in response to her comments?
Step by Step Answer:
Entrepreneurship Successfully Launching New Ventures
ISBN: 9780138091828
7th Edition
Authors: Bruce R. Barringer, R Duane Ireland