Based on my experience, putting up a business is really a great risk but it will always depend on your high or low investment. It is better to make an occular investigation first before building your business store and check if the foot traffic is okay. If you think it is fair enough, then make a decision to start and grow your business there and fight to survive. Be wise in choosing your location and be prepared if someone imitates your firm. I remember when I put up my first courageous siomai food cart along the wet and dry market here in the Philippines. I was shocked, that after staying there for nearly 2 months competitors emerged everywhere and my sales got lower! but after that incident of what everyone is saying that it is a "healthy competition" you must do something right away before all of your income is gone. Preparation is the most important thing to do which includes you making a wide view for what's coming or what will happen in the future. Good locations are commercial sites we're different people pass by. These includes: students, employees, residents in the area and other office workers.
Here are some tips to help you maximize your revenue with your location:
- Try to find a corner lot location this is a long time proven spot for business owners to make good profit
- Check if you have a business competitor and try to be creative how to make your trade standing out from others
- Always have a plan b in mind these will make you a better problem solver whether is this money or unusual situations that you never expect would happen
- Make your place attractive to customers people like visuals they know what is a good look and a bad look for this can make your profits higher.
- Be friendly taking care of your customers and make them like your services which is the main essence of your purpose. You'll be amazed that you want to see the same person buying and nothing at your place
source: food cart franchise Philippines
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