The real issue: the profits lie in the volume otherwise you will be eaten alive by the competition. If you can’t get the volume, it will be difficult to survive as rents are typically quite high.
There is very little here that can’t be duplicated, copied or repackaged… so your unique selling proposition has to be clear and unusual for you to gain traction in the market. If you open a store that looks just like the one up the road, then it’s going to be difficult.
That’s why people do crazy things: Buxibans sell everything, coffee stores sell every kind of drink, … bosses are there 24/7, … A successful business has to position itself carefully in the market, and be seen to deliver VALUE, otherwise you will get nickled and dimed to death by your customers who know the price of everything, but may not appreciate clearly why you are different.
I hear you. Since I ended Chinese classes a month ago, I’ve gone through many ideas - from buxibans to car sharing to green building. Nothing’s passed the SWOT analysis.
Afraid I might have to start doing what most Canucks here do.
Actually, at first glance it appears that most businesses here just copy one another anyway, and it seems to work.
One tea shop seems to sell the same as the next, so I dont really know. I’m thinking of something that would create value (ie promotion days, free delivery) or something like that.
yep, it works out …