What’s the best way to research market needs for a small business startup?

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    USER

      We recently moved to a small town; for example; closet pharmacy is about 30 minutes away.

      Development in the area is happening quickly; and there’s some retail/commercial spaces available for lease.

      We thought this would be an amazing opportunity to get in at the ground level with a small business.

      We are wondering the best place to start on researching market needs- there’s the basics- florist, donuts, haircuts, dog grooming, vape shop and shipping center, tanning salon, dry cleaner and thrift store-that’s about it.

      Some ideas were- coffee shop, embroidery/ DIY craft store, Gym , boutique/gift store. But wanting something to appeal to the majority.

      Not wanting to invest anything super crazy up front, but have about 30-50k for start up. (Hence why we wouldn’t do a pharmac).

      Any ideas?

      #109442 Reply
      Charlotte

        Have you owned a small business before? It’s not something to enter into without proper research and preparation.

        Also be prepared for it to take over your life.

        #109443 Reply
        Kelly

          Whatever you choose, let it be something you love. The stress and hours put into a small business is hard enough. To be stuck in a financial situation-

          forced to do something you’ll come to hate or resent later due to the financial piece is the worst.

          #109444 Reply
          Diana

            Hardware store? Bakery? Groceries? Ice cream shop

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