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please note that Assignment is just for 30 marks so briefly explain shortly.Thank you

Assignment Question Question: Drawing on the extract for inspiration, conduct a viability study on a business opportunity you foresee or have heard about. Briefly explain what a viability study is and why it is important to do one when starting a business Explain about or describe the business opportunity you have foreseen or heard about. (You could include that you have already done a feasibility study). Conduct a viability study - explain step by step how you will do this. Do a needs analysis - Assess if there is a need for the product or service you want to offer Customer Profile - Find out about the people who are most likely to buy your products/services. Do a customer profile or characteristics of potential customers. Assignment Mission and objectives - With the information obtaine from the needs analysis and customer profile, outline the mission and objectives of the enterprise. Remember that the Objectives should be SMART (Specific, Measurable, Attainable, Realistic, Time-specific ) Calculate the market share - Once you are certain of the mission and objectives of the enterprise, then calculate the market share of the enterprise (target market, expected market share, total market potential, income. see examples in guide) Competitors Analysis - Analyze the competitors of your business and decide on how to compete with them (SWOT analysis). Once you have done all the above with regards to the business, then you will be able to know if the business will be profitable. This should be stated