As noted in Lesson 2, part of a formal, complex business plan involves conducting a thorough analysis of the market in which the company will be offering its products and services. It is very important always to conduct sufficient Market Research.

Review the notes in Lesson 2 regarding the Market Research Process and choose a type of business and a location where you would want to open that business.

Apply the questions noted there to that proposed business.

• What additional questions would you want to ask?
• What other research would you want to do before opening the business?

Additional information may be found in Chapter 5 of your textbook Exploring Business:Chapter 5: The Challenges of Starting a Business

https://resources.saylor.org/wwwresources/archived/site/textbooks/Small%20Business%20Management%20in%20the%2021st%20Century.pdf