2006-07-15 16:57:51 · 3 answers · asked by Anonymous in Business & Finance ➔ Small Business
The population is so large now that any business you choose someone else will be doing it also. So take a look at your competition, see who they are selling to, what they are charging, how well they seem to be doing, where they are advertising, what their website looks like, check out their location (is it convenient)....and compare them. soon you will have a good idea what is missing in their sales, and once you pinpoint that that can be your "niche", the area you need to sell in. Then poll your relatives and strangers and see if they would need your niche.product or service. Just by placing into the yahoo search engine specific words, like say you wanted to sell widgets. Pull up all on widgets and see how many websites were pulled by yahoo, then go thru the first 10 or more and see what they do, how they do it, etc. see how many of those businesses have a current "copyright" year at the bottom of their website and if they are still in business. Doing all those things you'd be able to tell if there is a demand for the business of your choice.
2006-07-16 00:59:46 · answer #1 · answered by sophieb 7 · 0⤊ 0⤋
The best way is to find a competitor and pretend to be a casual customer. Strike up a conversation about how business is going and what type of demand they're getting.
If you've got some money, you can buy market research reports from some top consulting firms.
2006-07-16 00:02:36 · answer #2 · answered by buttmunch 2 · 0⤊ 0⤋
Don't concentrate on demand alone, what about competition?
Check the yellow pages for similar businesses.
How you research it depends on what it is?
2006-07-15 23:59:54 · answer #3 · answered by snvffy 7 · 0⤊ 0⤋