I’m working on a Business question and need guidance to help me study.
my business idea is : a gym with a healthy food restaurant ( they are both combined and the nutritionist makes a meal plan for the gym members and they can get the food from the restaurant )
I want to do the gym in the Middle East ( golf countries )
1-Using secondary research, conduct a market analysis to determine if there is a market for your business. Cite your sources. Then, using the concepts learned in class justify your business idea.
2-Answer the following questions:
1. What tools are you going to use to find information about trends for your business? Hint: you can mention the ones from the video.
2. What is your business industry? For example, if I have a kayak business, my industry is paddling.
3. How big is the market? For example, I looked at the Outdoor Industry report to find out how many people in the USA went paddling last year. My answer to this questions is 22.9 million Americans went paddling in 2018 based on this report https://outdoorindustry.org/resource/2018-outdoor-participation-report/ (Links to an external site.)
4. What future trends do you see based on your market research? For my example, there is an 4% increase in paddle sports.