Choose a Business (Week 3)
- Decide what your business will do. You could choose to form a business that sells goods such as clothing, electronics, or food. You could also choose a business that performs a service. Examples of service businesses include hair salons, spas, and car repair.
- Determine the target market of your chosen business. What portion of the population will your business’s product or service? Examples of target markets include middle class families, college students, and young professionals. After you have stated your target market, explain why your product or service would specifically appeal to this segment of the population.
- Decide where your business will operate. Make sure that the determined location of your business is consistent with your company’s target market.