Leo is thinking about opening a greeting card store on the main street in his small town. In
addition to thinking about the business’s feasibility in terms of the customers he hopes to
attract, which aspects of feasibility should Leo prioritize during his initial research?
(1 point)
skills, abilities
laws, codes
trends, competitors
resources, labor
There are several aspects of feasibility that Leo should prioritize during his initial research for opening a greeting card store on the main street in his small town. These aspects include:
1. Trends and competitors: Leo should research the current trends in the greeting card industry and analyze the competition in his area. Understanding what products and services are popular and who his competitors are can help him develop a unique selling proposition and stand out in the market.
2. Resources: Leo should assess the resources he will need to start and run his greeting card store, such as funding for rent, inventory, and marketing. He should also consider the availability of suppliers and potential partnerships that could help him succeed.
3. Laws and codes: Leo should familiarize himself with any local regulations, zoning laws, and permitting requirements that may affect his business. This can help ensure that he is operating legally and in compliance with all necessary regulations.
4. Skills and abilities: Leo should assess his own skills and abilities to determine if he has the necessary knowledge and experience to run a successful greeting card store. If he lacks certain skills, he may need to consider hiring or partnering with individuals who have the expertise he lacks.
By prioritizing these aspects of feasibility in his initial research, Leo can make informed decisions about opening a greeting card store and increase his chances of success in his small town.