Your competitors will depend on your target market.
For example, you may start by saying your target market lives in North America, and then narrow it down to the United States.
But as you continue going through your market research, you can get even more specific.
A reason for opening could be that you identified that no other restaurants in the area serve the cuisine you specialize in.
You can briefly discuss the vision and future of your startup company, but you don’t need to go into too much detail.
If you have superior quality, there is a market for that as well.
Competitive analysis should be conducted simultaneously with identifying your target audience.
This is arguably the most important part of launching a startup company.
If there’s no market for your business, the company will fail. All too often I see entrepreneurs rush into a decision because they fall in love with an idea.
This section should be pretty concise and no more than three or four paragraphs. Although you may think everyone will love your idea, that’s not a viable business strategy.
One of the first steps to launching a successful business is clearly .