Discuss their key strengths and weaknesses

• Double-spaced, Arial or Times New Roman – 12 point font

• APA- format bibliography must be included.

1. Your mission statement: Why are you in business? What is your purpose? There must a reason you thought about establishing this business, say what it is. Review other mission statements to see how they craft their statements. Do not copy what someone else has written but rather use to stimulate your thinking;

2. Vision statement: what are your goals short and long term? Where do you see the business in 2-3 years? Say how you will ensure that you have a competitive advantage. How will you ensure that this business profitable?

Industry Analysis: What is currently happening in your industry that can influence the success or if not attended to the failure of your business? Competitors-who are they, and where are they as it relates to your business locale. Name at least three competitors. Discuss their key strengths and weaknesses. THEN discuss your BUSINESS SWOT relative to your competition. For example: Does your competition have a weakness that is your businesses strength? Describe that strength and how you will use it to your businesses advantage. If you believe that you will have minimal competition because of the uniqueness of your product or service then stress that in an expanded way in this section.

Target Market: Customers are discussed here. Who is your target market/potential customer? What is your target market profile and variables will be used to segment your market? E.g. Demographic, psychographic, usage-rate, benefits