Now that you are clear on your industry, conduct research in your local area to identify your top 3 competitors.
Find this information in the following areas:
- Online research – enter your type of product or service in the search bar, and see what comes up!
- Check out Small Business BC.
- Put yourself in your customer’s shoes, and reflect on who they would consider among their options to find a product or service that most closely matches yours.
Use the competitor worksheet as a framework to study the following set of aspects of your most direct competitor compared to the same aspects of your business. Make sure to research answers for each aspect so you become clear on which are an opportunity for you and which are a threat. You are required to interview 2 competitors for your Business Plan.