Good Business Idea How to Know

If we want to invest in business, we need a good business idea. How do we know a business idea is a good business idea or a bad business idea? Top 3 questions to know franchise business idea, good business idea or bad business idea:

1. Business competition? is it too tight?
if yes, it's not a good business idea. It's because how could we compete with other businessmen who have more experience than us. So we should look for business ideas which have less competitors.

2. Does the business idea have a market to make profit?
if yes, it's a good business idea. If not, it's not a good business or we can create a market for our business idea. But we usually need much capital to create a market.

3. How much is the maximum risk?
If our business idea doesn't perform as we expected, how much money we would lose. If the maximum risk won't make us bankrupt or need financial bailout, then it's a good business idea.

Please remember there is no perfect business idea, as long as we believe in our business idea, we should start business investing.