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Business Ideas Forum
Funding a business
How to determine if you have a profitable business idea.
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[QUOTE="Kingsley, post: 211831, member: 30278"] To determine if a business will be successful or profitable we will have to carry out a lot of test and evaluation to ascertain whether the business will be productive or not. So we will carefully. There are so many accounting ratio that one can use to measure the profitability index of the business to see if it will be viable or not. Then another to check will be the rate at Which people really require the services or products that you intend to sell. Let's take for instance, you want want to go into selling stationary it will be best to situate it in a location where we have schools it is most likely such a business will do well there then sighting it in a residential area. Then when we look at going into a photocopying or computer typesetting business then it will be wise to have it in a higher institution location. Where you have students in the higher institution that will require your services. So in that regards the business will certainly do well. So location is one major aspect to determine how well the business will do. Then we should ensure we capture the target audience. [/QUOTE]
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Funding a business
How to determine if you have a profitable business idea.
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