Your research should examine the environment including demographic, economic, natural, technological, political, and cultural forces. Demography is the study of the human population in terms of size, density, location, age, sex, race, occupation, and other statistics. The economic environment consists of factors that affect consumer purchasing power and spending patterns like income. Natural environment involves natural resources that are needed as inputs or may be affected by your business activity. Technological environment consists of forces that affect new technology, creating new products and market opportunities. Political environment is made up of laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society. Cultural environment is made up of institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors. Your analysis should indicate which environmental factors affect your business and in what way.
_____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________
The industry analysis should provide background information about what is happening in the industry. Using resource data which should be cited, indicate industry sales five years ago, current sales, and sales projection in the next five years. Examine all the market trends for this business using literature resources and personal contacts to demonstrate that you know and understand what this business field is about.
_____________________________________________________________________________ _____________________________________________________________________________ _____________________________________________________________________________
SHARE OF THE MARKET: What percentage of total market sales do you expect to obtain after you are in full operation?
| Total Market | Your Total | Percentage of Total
| Sales $ | Sales | Market Sales
_______________|______________|______________|________________________________
| | |
First Year | | |
_______________|______________|______________|________________________________
| | |
Second Year | | |
_______________|______________|______________|________________________________
| | |
Third Year | | |
_______________|______________|______________|________________________________