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A digital gallery that would allow people to view art sourced from all over the world.
All from anywhere you have internet connection.
Where it could be purchased and delivered to your door.
It was a great idea.
Tim would have to travelto find the best artist to exhibit
and
he wouldspend most of his time looking at art
Five years later,Timlives in
New York selling art on the
most innovative online
art gallery in the world.
Starting a record shop
Strength
• There are lots of DJs in Melbourne• I love listening to new music
Weakness
• Lost of DJs download music• Don’t know any record labels• No website• Finding a location
Opportunity
• Could sell music and musical equipment• Can set up shop in my own style
Threat
• Increase in downloading of music• Investment• Poor location
Target Market
Who will use your product or service?
How much is
spent on this kind of thing
each year?
Location• Brand Image – Is the location consistent with the
image you want to maintain?• Competition – Are the businesses around you
complementary or competing?• LocalLabourMarket – Does the area have
potential employees? • What will your travel time to work be?• Proximity to Suppliers – They need to be able to
find you easily as well.• Safety – Consider the crime rate.
Startup expenses
• These are expenses that happen before you start trading. For example, registering a business name, logo design, brochures, rent, etc.
• Create a list of expenses. What is the total amount of money you will need to get your business off the ground?