Patty Carroll is thinking about opening a high-end fashion boutique in an affluent suburb of Minneapolis. She contacts an angel investor she knows has previously invested in this type of firm and asked if he would read her business plan. She receives the following response from the angel investor: “I’d be glad to read your plan. But you should know that when examining business plans for high-end fashion boutiques, the section that I concentrate on with great intensity is called ‘The Economics of the Business.’” Why do you think the angel investor concentrates on this particular section of a business plan when studying proposals to launch a high-end fashion boutique? What specifically do you think the angel investor is interested in understanding when concentrating on this section?
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