Starting up a new business is a complex process. Even more difficult is to start up a business that is different from the existing competition, and meets the demands of the current core of educated and informed customers. To achieve the desired targets, it is important to look at the perspective location, business idea, expected competition, expected demand, and finally the environmental factors such as social, economical and political which will affect the business. These concepts have been applied to the planning stage of a retail shop carrying used books for sale, based in Honolulu.
Honolulu is the largest city in Hawaii. Therefore, it is the ideal location for a new business to be set up. Location in this city can attract a mixture of both locals and tourists. The ideal location within Honolulu is the little shopping center known as Waikiki Marketplace. On visiting the site, it is observed that little shopping center has no book store. It is a good setting for a small business. Assistance financial programs are also offered for new businesses. The sizes of the shops are small to medium which also fits the ideology for an initial set up.
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