Saturday, April 10, 2010

How to Find Small Business Opportunities in Your Area

Have you been wondering how to find small business opportunities in your area? There may be more opportunities than you are aware of. Each community has its own needs. Study your community to find out what business will work for you.

FILL A NEED - Keep your eyes open in your daily life to see what your community may need. How far do you need to drive for a full service car wash, drive up coffee shop or find a notary? Are there services or products that are needed on a regular basis but not filled within fifteen minutes from your home? Many small businesses are started to fill a need left by a growing community. If your community is growing faster than the businesses in it, may be you can help fill the need. The next time you drive twenty minutes or more for a product or service consider it for a new business.

BE THE COMPETITION - Look out for a business that is doing well in your area. If you see a thriving business, look to see if it has any competition. If not, it may be a business for you. Sometimes businesses go for years without any competition. Analyze the business to see if you can do it better. How would you do things differently? Are people happy with the business? Could you offer more for less or the same amount of money? If you think that you can do it better, consider it for your new business start up and do your market research to see if it will work for you.

INTERNET - Check out the internet to see what is happening in your area. You can find out a lot about businesses by checking out their online presence. Before considering a business opportunity, you need to research the market for your business. Is there a need for the product i the area that you are in? Are there a large number of people in the demographic group you are targeting in your area? There is no need to target families with children if you live in an area filled with retirees. And there is no need to start a business if you do not know what you are getting into, do your research!

You can find small business opportunities in your area if you keep your eyes open wide.

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