What is your busniess competition?

Discovering who your competition is is an important part of business success, and a good business plan can help you to stand out from those competitor and gain more customers.

As part of building a good business plan you will need to consider what you will offer your customers that your competitors can't. What will you do different from the businesses that are similar to your own?

Another question that working on a business plan will help you answer is if you are going to be the only one with your type of business in the area. If that is so, then that leads to a new question: Why are there no businesses like yours already in the area? Are you in a place where there is no demand for such a business?


While looking to see what your competition is, don't forget to look for any small home based businesses that might be similar to your business. Just because you do not see a similar business in any of the local shops does not mean there is not someone doing the same kind of business out of their home in a local subdivision. Local craft fairs are a good place to see if you already have any competitors if you have a product you want to make that might be sold at a craft fair.