In this lesson, you started by reviewing customer demand before choosing a business.What microeconomic factors point to the fact that your business should be successful? Be sure to provide evidence for your claim.

Answer:

Consumers in the area are willing and able to buy custom outdoor shoe equipment, according to the surveys and market research. The community’s standard of living is high enough to support these purchases. The research also shows that new coffee shops are not in demand, and a coffee shop would face greater risks from startup capital needs and existing competition. This evidence supports choosing The Shoe Hut.