Opening your own business is a huge milestone for many people, especially in this day and age where entrepreneurship and working for yourself has significantly increased. But having an idea and goal is only half of it, the other half is deciding If you want to open a traditional establishment or creating an e-commerce website.
Both routes are great but, they each require different strategies, resources, and research.
If you are starting and entering a new market, I suggest using the Census Business Builder to figure out your competition, where you should open your store if you are thinking more tradition, or just to gather important information on the specific industry if you choose to go the e-commerce route.
Having a solid understanding of your potential growth and competition is a huge advantage and will help you strategize and make the correct business decisions to succeed. This free tool can tell you exactly how many stores within your same industry are open in a specific country, city, state, or country, making this the perfect solution to help you find the perfect location that will help you grow and interest your potential target market.
Being prepared and having the right knowledge can smooth things out in the business world, especially if this is your first business venture. At the end of the day you want to succeed right? So, make sure you do the research and gather as much information as possible!
If you missed my last blog, you can read it here