Damon is researching the business options available in order to turn his photography hobby into a business. He surveyed 100 potential customers who provided the following
information: 20% prefer a photographer with online samples, 60% prefer a photographer from a studio, and 10% would prefer to go to a photographer they have been referred to
Damon's survey also revealed what customers would be willing to spend: 20% would spend $100 or less, 45% would spend $100 to $500, 30% would spend $500 to $1000, and only
5% of customers would be willing to spend $1000 or more. Given this information, which opportunity would give Damon the highest probability of success?
Develop an online presence with samples of his work
Open up a studio with a gallery of his sample work
Invite friends and family to provide referrals
Target friends and family on social media