A key piece of research for your feasibility study is to identify your competitors- both direct and indirect. Every business has competition. If you claim to an investor or a bank that you have no competition, you just lost the deal.
For example, if you plan to open a night club, you are vying for a share of your customers’ night time entertainment dollar. What other choices do they have for that dollar?
(Please provide good quality and original response. Thank you!)
