Market Research

[KristineS]

I think the key is independent research that isn't done by the leasing company or the person who owns the property or really anyone who has a stake in you purchasing that location. The exception might be financial records from the business that was there before you, if there is one.

I think a lot of the problem is that most people don't know how to do market research and, if they're committed to their project, they want to believe it will succeed. So they ignore the indications that it might not.

[Blessed]

I can't tell you how many people I've done work for that couldn't answer one of my first questions - who are your customers?

As to formal market research, I haven't done it myself. But my business is something I've done for others for the past 12+ years. Now I'm just working on reaching my market - small businesses without a lot of capital for advertising and design - and selling them on the fact that professional design is worth the investment. One of my selling points is that I charge reasonable rates - this has gotten me so big business clients too... I love referrals!