There are more than 28 million small businesses in the United States, making up a whopping 99.7 percent of all U.S. businesses, according to the Small Business Administration. When you consider some of the most popular reasons to start a business, including having a unique business idea, designing a career that has the flexibility to grow with you, working toward financial independence, and investing in yourself — it’s no wonder that small businesses are everywhere.
But not every small business is positioned for success. In fact, only about two-thirds of new businesses survive at least two years, and about half survive five years. So, you may be in for a real challenge when you decide to take the plunge, ditch your day job, and become a business owner. The stage is often set in the beginning, so make sure you have very carefully studied how to start successfully.
Here is a detailed Business Feasibility Analysis to help determine if your business idea is really workable.