Just finished a wonderful dinner with two dear friends, Maggie and Barb. Thanks to you both for all your encouragement, insight and ideas concerning our new venture. And I really needed that encouragement; too many times I find I'm asking myself the question, "What are you thinking? Are you crazy, you should be getting ready for retirement, not starting a new business!" ..."and in this economy?"
With the encouragement of family and friends, it has also been a great help to have a business plan on paper, with goals and a step-by-step time line. When my husband and I first started investigating the possibilities of starting our own retail business, one of the first things we did was formulate a business plan which includes demographic studies, economic plan, business statement of purpose and various other pieces of information. We, of course, investigated the web for instructions and guidelines and found the most comprehensive information at score.org . As you can see, we have done our due diligence in the preparation stages of beginning a business, but it is the great unknown....the consumer....that scares the stuffing out of me. What does the local consumer want? Can I find the niche and meet the demand ? These are the questions that can only be answered after the time and money has been invested. This is the challenge of the retail market.
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