Analysis Business Plan for Customized Graduation Caps

Analysis Business Plan for Customized Graduation Caps
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For any business to succeed there is need to perform an analysis of possible threats, risks, problems in comparison to the opportunities and strengths. An efficient research will provide information which will be essential in establishing a strategic plan and feasibility testing. Some of the challenges, risks and possible opportunities that may face a customized graduation cap business are described below.
The first problem is capital and finances. In order to establish any business there is need to determine the financial requirements of the business and establish the sources of funds and how long they can be relied upon to sustain the business. Secondly, market potential can pose a problem for a business. The market may be available for the graduation caps business but one needs to ask if it can support the business in the long term. Moreover, if a market is crowded already it would be ill advised to venture into the same business. It is also important to analyze the selling points of competitors, market reach and strengths.
Possible risks that may face a business include financial risks associated with funding, intellectual or skillset risks where the personnel may not be able to make the products (caps) in the req...