Can you tell me thedisadvantages of setting up the following businesses.........................?

Question

Old peoples home
Taxi firm
Department store
Electrics shop
Convenience store

Answer 1

1. Old people's homes
A lot of paperwork involved. Taxation issues, and you'd have to responsible for the medical and other geriatric issues

2. Taxi firms
depreciation of cars, maintenance issues, paperwork, believe it or not, regulation issues, can you trust your employees not to pocket some of the proceeds? This especially applies to hackney drivers who operate without meters

3. Department store
Large overheads, the buyers would have to source from a lot of places, a large staff base, more so than if you just focused on one area, the shop would have to be larger than normal, so your rent (if renting) would be high. (overheads, again)

4. Electrics shop
you know yourself, electronics and electrics... things seem to go obsolete very fast. So you'd have to be careful what you buy, and where you site the shop. theft is an issue, so security issues...

5. Convenience store
Your overheads
your rent
franchise or owner occupier? If franchise, most of the profits go to the brand name owners. Any profitrs AFTER that, yours.
theft... security
staffing issues

Answer 2

All i can say is look at the area and try and identify the needs and the social econonmics of the area and surrounding areas, if you have major competion from big chain supermarkets then all the stores are probably a waste of time, unless very specialist areas in which there is a niche for a certain type of product on the other hand taxi firms are always in need and if you live in an area where there is a large population of elderly then an old peoples home is probably beneficial.

Answer 3

1. old people stink of wee
2. so do drunk people
3. no one wants to buy departments
4. you might have to learn about electrics
5. they run out of bread and eggs by 4 pm

Answer 4

see my other answer to the advantages. I need the 2 points!