Propose an idea that explains the purpose of the business, e.g. "Home Repair services" - or "Ethnic Food Restaurant' 1) Who is your target market and their wants/needs? support them with numbers. a. The new business will have to focus on selling a product or a service (or both) to a specific market segment. You will need to address the segment's demographics, financial capability, behaviour, and purchasing habits in a particular geographical location. b. Use https://www.ic.gc.ca/eic/site/061.nsf/eng/h_02800.html or other reliable websites for the province of Ontario or the City of Toronto to select a more focused group of people or companies. C. find what they are buying, how often they buy it and how are they willing to pay.

2) What products and/or services that your company may be offering your selected market 3) Determine the competition for each of your target markets - List ONLY the names of 4 competitors in Toronto. Having competitors confirms that there is a market for your idea and that target market customers are willing to pay for it.