If you are assessing your competition and trying to see how these could impact on your business idea, then you need to consider;
- Who is your competition?
- What the features that make your competition successful are?
- What are the strengths of your competition?
- What are the potential weaknesses of the competition?
You could best display this in a table like the one below;
|Competitor||Features of the Business||Strengths of Your Competition||Weaknesses of Your Competition|
It may also be helpful to obtain a map of the local area and mark on the locations of your competitors and where you are planning on locating your business. This will show visually where your competitors are and also the impact these could have on appealing to your target market.