Question

To begin your plan, you will need to know about your competition and decide how you will attempt to compete. In two to three sentences, explain how you will address each area of competition to help make your business successful against this competitor.

Answer 1

Sample Response: First, I will focus on lowering prices. I will do this by making sure my costs to run the business are low, and I will start by running the shop myself. I will create a better product by using healthier, better ingredients to attract more customers. Finally, I will be innovative by offering ingredients that aren't sold anywhere else.

Answer 2

Hello,

Your answer would be:

-You need to be educated

-You need money to start your business

-You need workers

-You need to create an investment

Explanation/Reasoning:

You want an investment or to make an investment because if your company fails you want to help it with that investment