Issue link: https://docs.hic.us/i/403552
A. Description Of The Business Just saying that you are opening an Embroidery business is not sufficient. It will be necessary to create a picture of what the enterprise is all about and how business will be conducted. When describing your business you should explain: • Legalities - business form: proprietorship, partnership, corporation. • Licenses or permits you will need. • Business type: merchandizing, manufacturing or service. • What your product or service is. • Is it a new independent business, a takeover, an expansion, a franchise • Why your business will be profitable. What are the growth opportunities? Will franchising impact on growth opportunities? • When your business will be open (days, hours). • What you have learned about your kind of business from outside sources such as trade suppliers, bankers, other business owners, trade publications, etc. B. Products and Services Try to describe the benefits of your goods and services from your customers' perspective. Successful business owners know or at least have an idea of what their customers want or expect from them. This type of anticipation can be helpful in building customer satisfaction and loyalty. And, it certainly is a good strategy for beating the competition or retaining your competitiveness. Fully describe the following: • What you are selling. • How your product or service will benefit the customer. • Which products/services are in demand. • Will there be a steady flow of cash based on the product/service demand? • What is different about the product or service your business is offering. C. Business Location The location of your business can play a decisive role in its success or failure. Your location should be built around your customers, it should be accessible and it should provide a sense of security. Consider these questions when addressing location issues: www.hsi.us care@hsi.us 37