#BusinessTipTuesday – National Tea Month

While thinking about a topic for this week’s #BusinessTipTuesday, I noticed that January is National Hot Tea Month. This reminded me of some market research I did a few years ago for a client who was looking to open a tea room.

The importance of doing market research before starting a business is always very important and it can be the difference in whether your business prospers or fails.

Market research can categorized as either primary or first hand research that you conduct yourself, such as interviews or surveys, or as secondary research which is already compiled data such demographics, statistics, or information from company reports, census bureaus, magazines and newspapers.

Conducting market research can help a business owner:

  • Create realistic business projections
  • Understand their customers
  • Identify new opportunities and/or customers
  • Help identify potential problems

If you are an entrepreneur or a current small business owners would like assistance in conducting market research for your own business or idea, contact The University of Scranton Small Business Development Center at www.scrantonsbdc.com .

Keith D. Yurgosky
Business Consultant
The University of Scranton
Small Business Development Center

Artwork adapted from vecteezy.com

#matcha #tea #teatime #january #hottea #antioxidants #greentea #oolong #NationalHotTeaMonth #marketreasearch #research #customers #smallbiz #smallbusiness #sbdc #amerciassbdc


About The University of Scranton SBDC

The University of Scranton SBDC provides no cost small business consulting services that are tailored to fit the needs of small business clients of Bradford, Lackawanna, Monroe, Pike, Susquehanna, Tioga, Wayne & Wyoming Counties. The center offers confidential individualized assistance designed to identify and address the problems of small business owners as well as individuals interested in establishing a business. The program is jointly funded by the US Small Business Administration, Pennsylvania Department of Community and Economic Development and The University of Scranton.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s