When it comes to business, I observe especially in a new location. I try to find out what is really scarce that takes people time and money to get. For instance, in an estate, people might go a long distance to purchase gas due to no gas plants around.
It's a good business if you must ask me to open a small mini gas plant for these people now; they have a choice to purchase from the nearby shop or go down the road, spend time and money, and still purchase the same product.
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Not everyone might purchase from you because they think yours is too expensive and might take the chance of going the far distance to purchase one, but 90% of people will purchase from you because you have saved them money and time, which are two valuable assets.Most people will say some businesses are congested and might not thrive due to the number of people there, but that is a lie. The way you handle your business might not be the same way another handles theirs.
Have you ever gone to the market? Two different shops are selling the same thing, but one is getting more customers than the others. There are many factors that might cause that, maybe the other pricing is too high while the other is minimum, or the person sells good quality products and handles his customers well. The moment I walk into a shop and you give me attitude, you have lost me forever. I can't imagine spending my money on something in your shop, and you choose to give me attitude when I could actually get that product somewhere else. Some people carry the problem of this world into their business and lash it out on their innocent customers. Zero customer care and still arrogant on top.
With no further ado, I would like to share two businesses that caught my fancy.One is selling gadgets, phone gadgets. Why I considered this business was because of my brother. He repairs gadgets and shares information about phone gadgets from the persons that taught him. Purchasing this gadget wholesale can fetch more revenue. In his own tone, it's better than selling foodstuffs. He was quite convincing, and I thought, why don't I try this out? I am yet to try it but I feel it will thrive.Four years ago I wrote a business proposal on the restaurant business.
That was my first business proposal. I love food, and I love cooking, so why don't I have a restaurant? I thought. I sat down and drafted a business proposal on it, and there is more to opening a restaurant. You will surely need capital on it and unlikely the losses can be huge depending on the location.One of my favorite businesses I haven't changed my mind on is having a game zone.
I could remember there was a time I shared this with my colleagues just to get their opinions on what they think, and I got nice feedback, just that it's going to be capital intensive. We are talking about millions here. What I mean by game zone is having a place where people can come and play P.s and pay for the time. The time given for people to play makes it more profitable. For instance, someone may be given 15 mins for a section for $2, and after the time expires, the person might want to play more. You might see someone spend hours in a game house; as you stay longer, you spend more money.