How to Start a Business in a Small Town

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To start a business in a small town, do ground market research on the concept, consider the benefits of less competition and the cons of fewer customers, and find out what a small community needs. Weigh the pros and cons of starting a business in a small town or large city with help from a marketing management professional in this free video on business.

Part of the Video Series: Small Business Tips
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Video Transcript

Hi my name is Mark, and we're going to look at how you can start a business in a small town. Why would you start a business in a small town? Maybe you've moved you changed location. You want a quieter life. Maybe you see a business opportunity in a small town. Whatever it is, you need to think about this carefully. Because if it is a business opportunity, you need ask yourself why that business doesn't already exist. So you need to look into that. And if it doesn't exist because nobody's thought of it, fine. You still need to do a lot of ground market research. Do people need the service? Do they want it? Is it financially beneficial to you? A lot of research needs to be done before you can start. Again, difference between a small town and a big town, or a small city and a big city is obviously the population. Can you service the pressure on you to service a small versus a large community? There benefits, and pros and cons. Think about this, small town mean smaller, fewer people to service. And if those few people are happy with that service, and prepare to pay a premium, then maybe it's a better business than being in a big city. And there's lots of people but lots of competition. Alternative you can look at it the other way and say "well obviously a bigger population offers me a bigger potential and bigger reward or respective of competitive features. So think about this carefully. And think about the business you're in. And if you're supplying a small community, these people really need it.

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