Reference no: EM133165062

(This is where your in-depth research and understanding of your industry will be showcased. Within the detailed description of what your industry looks like right now, you should include the following:

• The size of your industry and how many sectors it includes;
• Key information on industry markets, demographics and niche areas;
• Who the major players are in your industry - your competition;
• The suppliers and/or distributors in your industry, if applicable;
• Key industry and economic trends affecting your industry;
• Any social, cultural, environmental or geographical factors that impact your industry;
• What certifications (e.g. ISO), insurance and industry regulations are required;
• An outline of government regulations affecting your industry; and
• The overall growth potential of your industry.

Now you can demonstrate that you've analyzed the risks and know where your business fits in this industry. Points to include here should include:

• What sector of the industry do you plan to enter or expand into;
• What will distinguish you from any competition in this area, i.e. what's your competitive edge;
• Who your direct and indirect competitors are and their anticipated reactions to your new enterprise; and
• A detailed analysis of any other potential obstacles/risks.

You may also want to identify weak links and/or difficult issues, and include any appropriate contingency plans in your industry description.)

Following the points above, the Industry Description for a project is to open a Vietnamese restaurant selling traditional dishes. The restaurant consists of 12 tables serving up to 40 customers at a time, the restaurant location is located in downtown Sydney around with competing Asian restaurants such as A bite of Asia, Naru Sushi, New Moon, Thai Express,... Has the advantage of being the first Vietnamese restaurant in Sydney.