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Business Feasibility Evaluation Tool

Information to Appear on Report

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Market Scoresheet

1. I have demonstrated that my product/service is needed in the proposed market area.

2. The proposed product/service is different from anything already available from competitors.

3. Based on research and conversations, I have identified why customers will buy my product/service.

4. I have described ten key characteristics of my customer(s) in detail.

5. I have described five geographical sites where my customers are located.

6. I have estimated the number of potential customers in the proposed market area.

7. I have identified and described the strengths and weaknesses of at least 50% of my potential competitors.

8. As a manufacturer or distributor, I have researched at least three ways to get my product to my customers.

9. I have identified and spoken at length with at least five suppliers of my raw materials.

10. I have researched, priced, and spoken with key people concerning the advertising and sales techniques that I will use to reach my customer.

11. I have a strong need to achieve.

12. I possess a large amount of energy which I am willing to put into my business.

13. I am persistent - I keep trying until I get it right.

14. I am comfortable taking risks.

15. I have good reading, writing, and arithmetic skills.

16. I know the most common skills needed to operate this business and possess them myself or will get training.

17. I have owned or managed a business before and it was successful.

18. I have work experience in the type of business I want to start.

19. I am comfortable with hiring, firing, training, and managing employees.

20. I have assembled a team of advisors - attorney, accountant, insurance agent, banker - and am comfortable seeking advice from them.

21. I have considered the consequences if the business fails and I know how I will handle them.

22. Based on research about similar businesses, my business's projected sales per square foot is typical for the industry.

23. The business will show a profit at the end of the first year, based on the expected sales volume minus all anticipated expenses.

24. The estimated sales are built on researched assumptions about how much product can be sold at the projected selling price.

25. Start-up costs and business expense estimates for the last year are based on actual dollar costs where quotes or documented estimates could be obtained.

26. Trade associations and/or financial publications have proven to be good sources of useful information about the typical financial performance of businesses similar to mine.

27. My business's projected sales and expenses are comparable to the industry information I have obtained for similar businesses.

28. I have personal assets, such as land, stocks, etc., that I can and will use as collateral to get a loan to start this business.

29. I have cash savings that I will use to start the business.

30. The business will be able to pay me a salary on which I can live.

31. I need to borrow no more than 70% of the money required to start the business.

32. I know what lenders will expect of me if I seek a loan to start the business.

Arkansas Small Business Development Center
University of Arkansas at Little Rock - College of Business
Donald W. Reynolds Center for Business and Economic Development
2801 S. University / Little Rock, Arkansas 72204
Phone: 501.683.7700 Fax: 501.683.7720

Privacy Statement
webmaster@asbdc.ualr.edu

The Arkansas Small Business Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran’s status, or disability.