What is YOUR market like?

Started Mar 31, 2014 | Discussions thread
OP PenguinPhotoCo Veteran Member • Posts: 6,284

All businesses need to change..don't they?

Times change, technology changes, competition changes, etc.

But the challenge is what to change? Coke did a change, all indicators and all their MBA experts had it right...yet "new coke" was a collossal flop.
JCPenney was having difficulty...so they got a new CEO, new ideas...and lost billions on their change and are changing back to what it was before.

Some 'change' by changing what they do - buying other companies, dropping lines (IBM doesn't make PCs anymore).

Some don't change and it kills them- blockbuster video being a recent one.

Some I don't know what to say..domono's pizza was big here 30 years ago and then vanished. A new store opened about a year ago and is doing well.
Pizza Hut is always trying new things - yet I never see them get busier, or busy really. Some sell beer, wings, delivery, etc. I've seen salad bars, pizza bars, spaghetti/italian food on the menu. They're stil around but as i said, never see them busy (here and when traveling we stop in and it's the same everywhere)

Radio Shack has tried to change..they're changing again..will they survive?

Of course there is an alternative - go do something else. I've considered many options. gun store - they are busy here all the time, a bit less so than 2 years ago nearer the election. But if you can't inventory..it's hard to run a business. And delay..and you may lose. A guy owned one store across the state line, got some partners and opened 5 stores in 3 states in the past 6 months. He managed to get inventory (of guns and accessories..no ammo).
Considered other business as well. I think the time is right to open a restaurant. Non-Chain restaurants dominate here and with 3 new hotels going up and the impending $2.5Billion shell refinery to be built there is a new market coming.
But then I was out with friends last night, in the city. A burger there was $11, beer $4 draft, craft beers $6-12.  Here the food cost would be the same, rent I think a bit less, labor and utitlies similar (since waitresses work on tips). But bars here get $6 for a burger and fries, beer is typically $2 and craft beers $3-8.
And the investment wouldn't be nickels and dimes. Not sure which is more stressful...what I deal with now or dealing with that? LOL

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