Saturday, December 2, 2017

How Little Unique Businesses can Create?

Sometimes small businesses can raise their value by offering something unique when compared to other businesses. For example, on Shelter Island in California, there is a small restaurant on the fishing pier that offers simple beverages and food. While this won't receive the same amount of traffic as the one in Ocean Beach it nevertheless has carved out a niche.

Their demographic is based in the people who live in the area and those who go fishing on the pier. Each afternoon a crowd gathers to put their fishing poles out. They need things to eat and drink while they are fishing and this, as well as the tourists, is their crowd. Opening at 3PM they offer frozen bait and snacks.

Small business often have a hard time creating a place when competing against larger businesses. The market for this store is smaller than what most chains would be interested in. By putting up a business sign in a small market they have effectively locked this market out to competitors.

Trying not to compete with large business is important. Small business simply can't compete on price and cost advantages of larger businesses that often buy things in balk. However, with a little thought and a proper analysis they can find where their business fits. Those businesses that will survive will serve their unique target market well.

No comments:

Post a Comment