Consider your competition
Have you researched the level of competition for your product or service?
- Assess the level of competition for your product or service in your particular location. Use online resources and directories to determine the number and type of competitors based around your potential business location.
- Does the level of competition mean that you should consider a few different locations?
- Are there benefits to being located near your competitors?
What do your competitors offer?
- Find out what products and services your competitors provide. Collect flyers, price lists and any other material from your competitors.
- Consider purchasing from your competitors to assess their product or service and how it is delivered.
- Compare advertisements and websites your competitors use. Are there similarities or differences in what they are offering?
- Complete our competitor profile chart to assess your competition.
What can your business offer that is better than your competitors?
- Consider what features and benefits customers are looking for and what is not currently provided by your competitors.
- What features or benefits of your product or service differ from what your competitors provide?