I need help with a Business question. All explanations and answers will be used to help me learn.
NOTE: MY CHOSEN BUSINESS IS A HAIR SALON
I am located in Killeen, TX and my competition includes: Inspired Designs Hair Salon, Glytz Hair Studio, and Divine Radiance Healthy Hair Care Services Beauty Salon and More
One of the most important elements in a business plan is the market analysis. A market analysis is a qualitative and quantitative assessment of a market. It includes data collection and estimation in reference to the market size and value; characteristics of the intended customer base; in-depth understanding of the competition; barriers to entry and the regulatory environment. An accurate and detailed market analysis allows entrepreneurs to determine whether the market is sufficiently large to build a sustainable, profitable business. In this assignment, you will prepare a portion of the market analysis for your proposed business. You will create a report that can be included as part of your digital portfolio.
Write a 525-word report that includes the following sections:
- Section 1: Business overview, mission and vision
- Section 2: Market analysis
- Section 3: Recommendation
Use the Market Analysis Research document for details on what to include in each section.
Cite references to support your assignment.
Format your citations according to APA guidelines.