Ask anyone today what a good business to put up would be and the food business will be the first one to be said. Why? Well for one, food is a standard necessity to live these days and if you look at it, everyone will be looking at something to eat. But while it is a good business venture to consider, you should also consider the fact of placement since careless consideration of location can put your business towards the category of a total waste of time.
Aspiring entrepreneurs often think that once you invest in one business, nothing else matters. This is a wrong approach. You have to do your homework too. Survey the area and have at least 3 to 4 alternatives to your prime spot so that you can be assured that your business will not be a waste of time and money. If you happen to have a place to put up a food stall or restaurant, look at the other ones beside you. If there are 5 or more stalls offering the same line of business, chances are you will not profit from it at all.
Widening the food selection your business is catering too may be a good point to consider. But the next question you have to bear in mind is affordability and preference of your customers. For every customer lies a specific type of food that they would want such as healthy foods or burgers. If you are putting up a food business, make sure it is something that people are looking for or is in demand. Otherwise, you may be offering something that does not have potential at all.
Originally posted on July 31, 2008 @ 5:03 pm