Imagine you want to open a sewing business.
After watching the videos and read all the documents attached, answer the question below regarding a sewing business. Your answer should be based on what you learned from it, and your responses MUST show that you can incorporate material you learn in your discussion. In other words, the discussion should not be based on layperson analysis, but must actively show that you can up your level of analysis based on the content of the course. Examples may be discussion in terms of business model, market segmentation, marketing and pricing, opportunity evaluation, legal structure, etc.)
Question to Answer
- Introduce the business idea in the following format: (in this case is a SEWINS BUSSINESS)
o Industry: Pet products & services
o Business type, business name, & owner (Dog boarding facility, “The Free Range Canine Club” by Dr. B)
- Provide details on where you can operate (be specific, city state) and what your market segment/segments is/are). Who are your main competitors? (for this, you should do some market analysis and clearly define your market and the segments you will serve, possibly pin down a location, etc.)
- What is the main source of competitive advantage for this business? Elaborate. Explain what makes this business different, why customers would want to use your product/service, etc. Incorporate concepts from the Business Model Canvas.
- How will you make your competitive advantage sustainable and viable long term?
- Describe the company structure and composition of your management team and board of directors.