Market Research

[onmyway]

How do I proceed to research a market before starting or buying a business? What are some effective ways? Thanks:coffee:

 

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[Forza]

What kind of business?

 

[mkzhang]

Speak with the business owners, customers, suppliers, and potential competitions, substitute or complementary businesses.

The business owners have experience and insight in their industry that outsiders just can't see, their outlooks for their industry is based more than on CNN.

 

[faq88]

Make sure you get to see their accounting. What did they make? Did they have a loss for the year. Base some of what you pay on the revenue for that business. If they have experienced a loss every year you should not be paying full value. Its kind of like buying real estate. You pay them for what they are making currently, now what they think they should make.

 

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[Bobo]

Really need more details to offer advice that isn't around what you'd get from a Fortune Cookie here.

Describe your plan with as much detail as you are comfortable with....

BTW: the secrecy question has been floating around this week. The fact is that if most of us laid out every detail of what we plan to do it wouldnt hurt anything, the hardest ingredient to find is follow thru

 

[onmyway]

Well I was thinking about starting or buying an internet business. I wanted to know how could I tell if the market is good generally speaking. If I decide to go the route of buying an internet business, what type of questions do I ask during the due diligence process?

 

[Bobo]

That's the detail we needed.

There are a LOT of folks here who have bought, sold and started successful ones.

What kind of income generation are we talking about? Are we thinking click and mortar store here or more virtual income from advertising (ie, traffic) or affiliate marketing...? drill down a bit.

 

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[onmyway]

Well I'm open minded to all three lol. If I had to I would put it in this order 1. Affiliate marketing 2. Click and Mortar 3. Advertising etc

 

[Bobo]

Ok affiliate marketers, there are about a dozen at least on here... why don't you guys start?

 

[onmyway]

Ok affiliate marketers, there are about a dozen at least on here... why don't you guys start?

Do you have any advice research and due diligence on the click and mortar business?

 

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[faq88]

Before you buy one, you really should figure out how one works. For this you need some education. I highly recommend checking out the 30 day challenge or even go over to warriorforum.com. The folks over there live and breath internet businesses. Best of luck.

 

[Bobo]

Will organize a few thoughts on click and mortar later. Unfortunately I have to use all three brain cells on some work work this afternoon but I will come back to this thread after the affiliate marketing geniuses advise...

 

[Bobo]

Try This Canadian Market Report Delivered Daily via Email

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THese guys have been at it for a week.

 

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