Researching your competition
The competition in your field of business you are moving into will not necessarily allow you to florish as a new business.
Therefore, understanding what they do and how they do it is key information you'll need to gather prior to writing your business plan.
Competitor's SWOT analysis
The best method is to find the competitor you believe is the best local to your business who you believe will be the toughest in your market.
Undertake a SWOT analysis on that business (see SWOT analysis for more information.)
Once you know their strengths and weaknessess, you'll have a much better understanding of how you can beat them and what their customers like about that business today.
Competition's finances
It's a good idea to understand the finances of the new company.
It will be very difficult to understand the finances for a private company as they do not have to file detailed accounts.
But you can have a look at all the information on the companies house website at companies house webcheck
Download a fully completed business plan for your industry online right now. All plans include narrative, financials and support
