You recently graduated from business school and you want to open up a small pizzeria in a large college town

There is a perfect space to lease for the pizzeria; however, a few doors down is a very well-established Italian restaurant that has been around since 1964. Their food has been legendary for all of those years. How would a market analysis help you decide if opening up the pizzeria near the restaurant would be a good idea or not?

A market analysis would identify how large the customer base is in the town, how many tourists eat at restaurants, and if there is enough of a market to support another eatery. Also, a market analysis would identify the strengths and weaknesses of the other food establishments and what your competitive advantages would be over those businesses.