Editing The biggest challenges throughout the planning process are determining start-up costs, determining inventory, and determining the location of the store. The start-up costs are a big challenge due to there being several variables such as how much inventory is smart to start off with how much to pay in utilities (can easily fluctuate), and how much to pay in advertising the store to customers. Determining inventory is also a challenge because orders must be placed to keep up with inventory and determining a schedule for that is based on revenue, but during the planning process revenue can only be projected and not consistently known Determining the location of the store is also a challenge, it is an extremely important decision that will make or break the success of the store. Calculating how many customers are nearby, as well as type of income (lower-class, middle-class, upper class, etc.) is also challenging. The growth potential of my business is tremendous. I view after a few months, for there to be a solid foundation for revenue. The first few months may be tough because the public either doesn't know about the store, or don't have a trust built with the store yet. Once I am established, I see my store serving the community with well needed convenience products and establishing a casual customer base. Once I'm established after a few months, I expect revenue to climb and stabilize. After a few years I expect to be financially in a great position. Some profits can be diverted to upgrades for the store, improving customer experience (maybe experiment with new and diverse products). After a few years, I see myself expanding by buying other Circle K franchises to open or try to buy established stores from owners. This would require saving up a lot of the profit but in the long run it is a great investment in my opinion. Part 2 This entrepreneur mentioned some big challenges he/she would face when starting this business. Do you agree? Explain your decision Evaluate the growth potential of the business. Would you agree with this entrepreneur's vision? Why or why not