In principle, you can write a business plan yourself, and order a market analysis from a company that specializes in this. Here is the information that marketing research usually includes:
Market volume and its changes in dynamics over the previous 3-5 years.
Long-term and short-term forecast for the development of the industry.
Indication of special operating conditions. In particular, this may concern the seasonality of the work.
List of competing market participants, their audience, available offers and level of demand.
List of market leading overseas chinese in europe data companies (what business models they use, what is their level of material well-being).
SWOT analysis.
General conclusions, recommendations.
Using SWOT Analysis to Create Business Plans
SWOT analysis reveals existing external and internal factors that can influence your activities.
The SWOT breakdown looks like this:
S (strengths) – your strengths that allow you to remain competitive.
W (weaknesses) – disadvantages that prevent expansion and strengthening in the market.
O (opportunities) – opportunities that will improve the situation.
T (treats) – possible threats and risks.
That is, any factors that can influence the company's activities and success are grouped into categories S, W, O and T. In general, this is a flexible, universal and simple analysis. Among the disadvantages are the lack of figures and a rather subjective approach to making assessments.
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Identifying the strengths and weaknesses of your own project
Let's say your idea is to open a fitness club in a small town (100 thousand people).
The analysis showed that your strengths are:
location – city center (it’s convenient);
the premises allow for the creation of spacious halls;
modern exercise machines and equipment already exist;
the range of services is wider than that of competitors (they only have exercise machines, and you have a massage room and an infrared sauna);
Your trainers are the best professionals in this city.
The following disadvantages were revealed:
some competitors have cheaper subscriptions;
there is no ready-made client base, you will need to recruit from scratch;
the audience doesn't know about you yet.