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You are a business consultant who has just been hired by a young entrepreneur who is beginning a new business. The entrepreneur plans to start a privately owned business (i.e. grocery, clothing, hairdresser, auto repair, cleaning service, etc.). Your client is uncertain where to locate the business and is looking for your professional advice. Your client's initial thoughts are to establish sales of $200,000 the first year and grow the business at an average annual rate of 20% each year after. As his consultant, you are requested to prepare a report analyzing and answering the following questions: 1. What is the best small business option given today's economy? 2. What are the characteristics of the target market? 3. Who is the competition and what are their strengths and weaknesses? 4. What are your client's strengths? 5. How should the business operate? 6. How should the business be advertised and promoted? 7. How should the business be financed? 8. What are the restrictive laws and regulations affecting this type of business and how should the client comply with these laws? 9. What strategies and plans should be put in place to grow the business by 20% per year?