You've worked hard, made a fair amount of money, and have a nice stock portfolio. You're also known among your friends as " the guy with the money." As with lottery winners, you've become a bit of a target-some want handout, some loans, and others just do their share of freeloading. But now one of your friends has come with business proposal. She's just been from a trip to Southeast Asia and is raving about all the neat fabrics available in local markets in places like Cambodia, Thailand, and Vietnam. She's also a great fan of TV show Project Runway. So, she wants to import fabrics, buy some sewing machines and materials, rent a small storefront, and set up a shop called The Design Place. The basic idea is that a customer can come in, find fabrics, use workspace, and the design and sew their own fashions. She thinks the idea will be a winner, but has come to you for advice and- she hopes-some start up financing.

Question

What  questions will you ask and what will you say to help your friend do a good strategic analysis of her business idea? Without knowing any more than you do now, what do you believe is the real strategic potential of The Design Place? Are there examples of do-it-yourself stores within another product space that could serve as guides for your evaluation and help in developing her business proposal. Apply your strategic management knowledge is addressing this question.