Identify the regulations, permits, insurance, liability, municipal zoning and taxation requirements that you must follow in order to operate your business. The business climate of your town, village and surrounding area is an important influence on your day-to- day operations. Reflect on topics such as taxation, zoning and other factors. Demographics Describe the population base that exists to support your product. Identify the market size for your product, and the people that make up your product/service’s consumer group. Provide information about: Where they live, What products do they buy, How much they spend on similar products each year, Where they shop for these products, etc. Indicate whether or not your product is geared towards a specific age group, with spending patterns and consumer demands. Indicate whether this group is shrinking, expanding or yet to be tapped into.