Would you rather own a small chain of...?

Question

pizzerias

bakeries

liquer stores

book stores

travel agencies

resteraunts

pick one...and why that one?

Answer 1

Im not sure if any of those

Answer 2

Book stores and travel agencies are under intense pressure from online businesses. I'd avoid those.

Liquor stores are controlled so tightly that you can't innovate much. They're fine businesses for retired alcoholics who haven't anything between the brains....

Restaurants and pizzerias are a business that *everyone* wants to get in, because they look like they're fun. They suffer from the fact that everybody wants to eat at the same time. It's a hard business.

That leaves bakeries. Low costs, constant demand, and in any market you enter, there's a niche that nobody is paying any attention to. Maybe it's bagels, maybe it's cheesecakes, maybe it's bread soupbowls, maybe it's italian bread. Many products, you can cover your costs with steady wholesale sales, and then sell retail for added profits.

Krispy Kreme tried to enter a lot of markets at once, and fell, splat, on their face. The problem is that their recipe is great when hot, and mediocre when cold. They needed to build their central bakeries first, develop a following, and then work on selling their donuts in convenience stores and groceries, where people would say, "Well, it's not as good as it it hot, but at least it's Krispy Kreme". Instead, people bought their cold old donuts first and then said, "Is *this* what all the fuss is about?"

Which leaves lots of markets open for someone to open donut shops that offer a really premium product. Many of those markets already have one - but if there's room for both Hagen Daaz and Ben & Jerry's, and room for both Coke and Pepsi, then there's room in those markets for a premium national donut brand.

Answer 3

None of the above. Too competitive. All over-tapped markets. Tremendousl money is in original ideas that pass feasibility and market studies and have the appropriate amount of capital backing the new venture.

Answer 4

None of the above -

Sorry either tooooo much hard work with too many failures historically or high liability (liquor stores) and usually very high license costs .
Plus , I do NOT like drunks . . . .

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Answer 5

Liquor Stores. Because if you have a good location and good selection, you will always do business.

Answer 6

travel agencies. lowest overhead.