• Is there sufficient demand for your product or service?
• How many other businesses like your are in the area?
• Are they satisfying their customers?
• What will be your main advantage over your competitors?
• Is your product quality or range better, or your location, or your degree of service?
• Why has it not been done already?

Advantages:

• You pay nothing for goodwill.
• Your capital outlay can be gradual.
• You will have the challenge and satisfaction of creating something new.

Disadvantages:

• You have all the tasks of setting up the business - finding premises, meeting legal requirements and obtaining the necessary permits and licenses.
• You may have to live off capital for sometime until your cashflow exceeds your  expenditure.
• Because your future depends on it, your preliminary assessment of  the potential  market must be thorough and realistic.