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Question
sharon is thinking about opening a bakery. she knows she wants to set her own hours, reduce her stress and make a profit. but she still has a lot to think through. which of the following would not be a good early step?
immediately finding a storefront property for her business, putting down a deposit, and signing a lease.
contacting a mentor who has experience in the restaurant industry.
creating an initial elevator pitch with her limited information and starting to ask around for advice.
beginning to estimate her target market for her business.
When starting a business like a bakery, it's important to have a well - thought - out plan. Immediately finding a storefront, putting down a deposit, and signing a lease is a hasty move. Without proper market research (estimating the target market), a business plan (which could involve advice from a mentor in the restaurant industry as they have relevant experience), and a more refined business concept (an elevator pitch is part of presenting the business idea), committing to a lease is risky.
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Immediately finding a storefront property for her business, putting down a deposit, and signing a lease.