A local business leader is considering starting a business in your area and has

Question

A local business leader is considering starting a business in your area and has hired you to conduct a market analysis and deliver a formal report of your findings. Consider a market segment with which you are familiar. Write a brief report to be delivered to your sponsor in which you describe the status of competition within this market and recommend a course of action for the start-up. Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use well-structured sentences, audience-appropriate language, and correct conventions of standard American English.

Explanation / Answer

In our area, business in Food Industry is one of the best Investments for the local market. Investing in the Fast Food Industry would be appropriate as the total revenue generation from the town is relatively smaller than the big cities. Fast Food Industry has very less competition and it is still in development phase. Local market is a very good source of raw material which are available at a very good price for increasing the overall profit from the same market.
In terms of doing business in this is specific industry competition level is very less as compared to other food sectors. Implementation of proper business strategy regarding expanding the business to the local stores would be appropriate. For starting up a new business in this specific field, bringing a food truck in locality would be very beneficial as there are no food trucks available for quick food to the people. This would help the organisation to create a monopoly in the market and would improve the sales as you would be the only retailer which is selling food on a food truck.
Doing this type of business in the locality would help your firm to grow your food truck from one to many which would also provide a better support to the overall sales structure of your organisation in a positive way. As an example of the nearby town where there was no food truck, after launching a new food chain by another company they gained cover of the entire city with several food trucks which was proven to be very beneficial and the company produced a growth of 120% in the last year.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.