General Project Overview
Imagine you are an entrepreneur who is planning to open a retail establishment somewhere in the community where you live within a 50-mile radius. You need to determine what type of retail establishment you will be managing (in what industry and product categories). In this project, you will respond to specific questions on how you would establish your retail business that will result in a report to be delivered to a potential investor or banker.
Report 1 Specifics
1. Describe the general concept of what you hope to achieve with your new retail outlet. Provide a background on what motivated you to establish this store. (Chapter 1)
2. Write a mission statement and measurable objectives for your retail store to achieve. (Chapter 2)
3. Describe the industry in which your retail store will operate and what characteristics will determine your success or failure within that industry. Include a description of the key competitors that your store will face. (Chapter 3)
4. Describe the consumer profile that your store will target and why you selected those market segments. (Chapter 4)
5. Prepare a SWOT analysis for your store and describe the effects of any market environment forces (e.g., social, technological, legal, regulatory, economic, natural environment, etc.). (Chapter 5)
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