Question

Topic: Strategy

I Need To Know If My Idea Is A Good One

Posted by Anonymous on 125 Points
I would like to open a gunsmithing business in my local (rural) area and would like to know how to analyze the market potential to determine if it could be viable. I could leverage electronic capabilities like web, etc (since that is my primary skillset). But I would like to transition to different lifestyle. There is no indoor shooting range in the area so that may be another way to expose folks to my primary business. EG. open a range / gunsmith operation.

FYI having read other posts I want to be clear that this is not homework.
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RESPONSES

  • Posted by Chris Blackman on Accepted
    Dig at local level. Talk to obvious gun owners, e.g. police, farmers, hunters clubs or groups and find out where they currently get their guns serviced, buy ammo, etc.

    If all the expenditure in the category is going outside the immediate area, and the services they are getting are unsatisfactory or inconvenient to use, then perhaps you have identified an opportunity.

    If you can collect contact info as you go, you can create a database for further research once the initial "is this a good idea" question is answered, to design the product/services you create to fit the market requirements.
  • Posted by johnwhitepaper on Accepted
    Agree with Chris, since you don't want to do Web research.

    I'd suggest that you also quantify whatever data collection you do. If you end up needing to borrow money for your enterprise, the banks/investors will want to see some numbers.

    John
  • Posted by Jay Hamilton-Roth on Accepted
    Start by simply creating a website focused on your gunsmithing business. Make sure you join (for example), Google's Local Business Center to fine-tune your SEO. Perhaps place a free offer on the website to get people interested enough to call you.
  • Posted on Author
    Thanks for the input.

    Don't get me wrong i am not against using the web to research. I just want to begin transitioning my life from digital to analog:)

    I like the focus group and local digging ideas. I suppose i should generate a questionaire and get out there.

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