1. Select a business or industry that you are familiar with and describe the period of...

1. Select a business or industry that you are familiar with and describe the period of time during which the business would need to be open in your area in order to gain a customer following? Why do you think this is the case?

2. how much capital do you feel is necessary for a business to gain its “critical mass?”

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Expert Solution

1) As it is summer season I will go with Mango business. From March 1st week to June 2nd week there will be huge quantity of variety and variety mangoes which will be sold both in domestic and international markets with high demand at good prices. So during this period I can get more number of consumers in the my area who will help to gain profit and expand my business. Hence the business I will start is mango business that too for a limited period.

2) If I am taking mangoes from land owner than I have to pay that much amount to them for money and I have to sell that mangoes at higher cost. In this case it will be a problem for me as I may not earn profits but If I can take a land with mango trees for lease and use equipment along with raw material for good output than it will help me to earn profits as I can sell them at low cost as I pay only land lease amount. In my opinion it will be around 500000 lakh rupees as capital to gain critical mass in business.

Rahul Sunny answered 8 months ago

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