Alexandoy
VIP Contributor
The location of the business is very important for the success regarding the customer base. A start up is best to have a prior research if there is demand for the products or services otherwise you have to choose another business location.
Indeed competition can instantly kill a newcomer because the location is saturated of supplies and the demand is not much. That condition usually results in a cut-throat competition for the fight of sellers on the few customers. That is one reason why stalls in the mall are rented despite the high rent. They are assured of a huge customer base on the people coming to the mall every day. I find very few stores in the mall that closed shop because they are all selling and earning profit with the customer base.
Indeed competition can instantly kill a newcomer because the location is saturated of supplies and the demand is not much. That condition usually results in a cut-throat competition for the fight of sellers on the few customers. That is one reason why stalls in the mall are rented despite the high rent. They are assured of a huge customer base on the people coming to the mall every day. I find very few stores in the mall that closed shop because they are all selling and earning profit with the customer base.