Thursday, March 3, 2011

Business Update: From One to Two

My first business choice was food cart which is blooming this year but there is one factor that made me think twice. Mall space rent. The rates are so high that I know that we would not be able to make a decent profit. Everything will go down the drain straight to the mall management. Don't get me wrong. I have nothing against malls, their rental rates or stores renting in malls. What I'm trying to say is if a noob like me would dare try to rent in such places and not know how to properly manage the business or how much income I could earn to make ends meet, wouldn't that be too risky? It's as if throwing money out the window.

So, as what I have mentioned in my earlier post, I have resolved to renting a commercial space outside a mall. And because of that, I had another business that I can set up. A sari-sari store. Therefore, from a simple food cart, I have 'upgraded' my business plan to sari-sari store with food cart. Hehe.

I know that sari-sari stores don't earn that much because of very low mark-up on every item but I thought that it would be better to have something else than just food cart. The little profit that I could make from sari-sari store can help support the rent and other business expenses. It wouldn't be much but little is better than nothing at all. Besides, it would be a waste of space if I wouldn't use the whole stall for something profitable.

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