Many people think of opening a store when they think of doing business. Nowadays, physical businesses are facing homogeneous competition, the impact of e-commerce and other factors. Therefore, before opening a store, we must think about the following three questions:

First: Let’s see what is missing here first?

Before opening a store, you must first see what is missing in the area where you want to open a store. According to the characteristics of the population here, analyze what the needs of the target population are? What pain points have not been solved? How big will the market be? Is it a rigid demand? How much profit margin is there in solving this pain point? How much is the operating cost?

Second: Think about what I can do?

Think about what I can do next? What are my advantages? How much do I know about this industry? What resources do I have? Why can I do this business well? Do I have technology or connections? Analyze your advantages and disadvantages, and finally consider which industry to engage in. This should be analyzed according to your actual situation, and don’t make blind conclusions.

Third: Consider what to do?

No matter what business you are in, if you only have an idea and haven’t figured out how to do it, then please don’t start easily. For example, you should first write an operation plan. What project do I want to do? Should I join a franchise or do it myself? If I join a franchise, what brand should I choose? How much can I afford to join the franchise? If I do it myself, do you understand the technology? Or are there any talents in this area? Then there is the specific operation plan, how to manage? How to do marketing? How to provide after-sales service, etc. Think through a series of questions, and then consider whether to open a store, so that the risk of opening a store will be minimized!