Business Development · Entrepreneur

Where / How can I effectively research whether my small business idea will be successful in my area?

Matthew Hodge Adventurous, Interested in investment or entrepreneurship, Hungry

June 6th, 2017

With 2 or 3 ideas for small businesses that I would like to start (my first business), how can I effectively research whether my area is in need for these types of businesses, or that my idea has a good niche that I can fill, or whether my area is already too saturated with ideas like mine?


I have plenty of small ideas that I'd like to start so that I can make myself some money that I can later invest, or sell said business for capital to invest elsewhere.


A couple of the ideas:

"Trendy" food cart / Mobile Food station

T-Shirt printing company

Mobile auto detail


I have some startup money, and a family member said they would be willing to help me if I need some more, so I would like to find something smaller like this that I can network and grow with and potentially move on to bigger things.

I have recently moved from one state to a completely different area and don't know A LOT about it but have plenty of family here and have spent some time here prior to moving.

Roy EA Helping Clients Build Products, Processes, & Profits| Adjunct Chief Financial, Research, or Operations Officers|

June 7th, 2017

Check to see if those business have (or do) exist within 20 miles of where you are. If they were- and are not- try to reach the founders (should be listed on a DBA or incorporation) and talk with them. (Remember- Hillary Clinton still doesn't take responsibility for her terrible performance....)

If they are still in business- go visit and see what you can do better.


Good luck.

Logan Herzog Facebook/Instagram Lead Gen For Startups

October 19th, 2017

Matthew,


Facebook is emerging as an incredibly effective market research tool. I think with a few hundred dollars of ad spend and some expertise on the platform, you could generate enough data to confidently identify the best product and market fit.


Here's a link to another CFL thread where I break down how it can be done.

https://cofounderslab.com/discuss/what-is-the-most-reliable-way-to-test-out-your-product-idea-before-actually-building-it


Good luck!