What is the Market/Competition Like?

Once you understand the market and how it affects your business, you will be better prepared to face the challenges that will come your way and increase the likelihood of success.
Before beginning any venture, you must discover if it is lucrative or profitable. This requires you to understand the niche market that you are interested in joining.
Most new ventures will face competition; it is rare for people to come up with truly original ideas, and many of these are adaptations of established markets.