The most important factor to consider when starting to build a business is the target audience. You have to think of who would you want to cater to. Who are the communities that you may profit off of. Like for example if there is a school near you, you should know that students would be your target audience. You should start a business where students can buy materials from or a place they can study or even hang out around. I believe that if you studied your target audience, the first step of your business is already successful enough.
I think so too. Because skilled businesspeople always succeed in seeing opportunities close by. Or before that, skilled businesspeople will find out what consumers need in the area where they plan to build their business. Knowing what people really need is the first step, just like knowing your target audience. The business we build must offer a solution for consumers. If the location is very far from a supermarket, we can provide a solution by building a supermarket close to consumers. Or something similar.
But it's crucial to understand our target audience. This usually depends on where we're building our business. If we're targeting elementary schools, we can build a business that will appeal to children or parents, as well as the needs of school staff and the like.