Putting up a mixture of business-A A +A
Sunday, July 15, 2012
THIS IS kind of business is proliferating in the countryside, and this is what we call in our vernacular “sari-sari store.” These combination businesses have already been set up long time ago in the urban and rural areas alike. You can also find them in the school or university areas. Sari-sari store is an integration of two or more kinds of products to be sold and set up in one place.
These days with the strong competition across all industries, it is very difficult to plan for a business that will give an enterprising individual the best chance for success. However, an entrepreneur will put up a mixture of business that is now developing many industries in order to increase profitability. These enterprises rely on synergy, where two or more things combined together. These businesses are able to share assets, manpower, and/or customers by offering more than one product or service in one business place.
Aside from having the earlier kind of mixed businesses, the “sari-sari” store, we have now a days, some of the most popular such as the “three-in-one” combination of a money changer, pawnshop and remittance center, Laundromat combined with refilling water stations, Internet cafes mixed with printing jobs, photo copier and even coffee shops, Communication center where you can find services and products are mixed together and many more combined business packages.
In putting up this kind of businesses have its advantages such as; you can draw or pull more customers to avail other products and services. Another, you can establish two or more business activities from a single fund. It is also a cost saving when it comes to the improvement cost in securing and refurbishing the area and that include purchases of store equipment. Promotion and use of marketing collaterals can be more advantageous since it is printed into one design and since it targets the same customers. The manpower requirement is also another cost saving effort. Cost of training your employees is another beneficial to the business owner and of course, you will save from rental expense. With the very high rental rates nowadays, it will do better and much easier to recover this expense with the increased revenues from the additional enterprises set up.
Sometimes it is not feasible to forecast with certainty what kind of business will click but having three ventures in one shop is better because the chances of success are much higher. You would have at least doubled or tripled your opportunity to make a profit. Want to set up this kind of business and need some help? Just contact or text this writer at 09179486949 or e-mail your concern at email@example.com.
Published in the Sun.Star Baguio newspaper on July 16, 2012.