Worst business to own....Alot of expenses and extremely low sale transactions.... $5000 to $10,000 per month rent, utilities and inventory and bills ....$10 sales transactions of candy, soda, gum, lottery tickets, cigarettes, etc.....you need ALOT of customers just to break even
Yes, it is a very very tough business. There's a lot of expenses and you right around the mark for the rent and utilities and inventory equal around $6 to $7,000. However, some people do very well and last a long time in this business because they find a way to build up the average sale. You're looking at a $20 average spend in a small store like this. Is a volume-based business just like any other food-based business. Think restaurants bakeries small cafes. Yes, many do falter in a few years but some do succeed into a very busy location.
I can relate to a lot of what you said, as i had a grocery store in my early 20s. I had to throw in the towel. But anyway, i now have just started a RUclips channel and was thinking of a topic for one of my first videos. I am going to take this video of yours and build a conversation around it - hopefully this will also benefit you as it will direct some of my audience to your channel. Hope that’s ok … will send you a link once it is published, maybe next week :)
Ok video is now made. I need to edit it. Will send you a link once published …. Friday 6th Sept :) Thanks and keep your videos coming. I look forward to knowing more
I’ve owned a lot of different businesses 2 different cigarette/tobacco outlets A hair and nail salon An apothecary Cigar shop for 12 years A commercial painting co On top of flipping a house or two every year for 15 years And one year of owning a produce store. And by far the produce store was the hardest most time consuming lowest margin business I have ever been in. You gotta be married to the place and for not very much does.
Worst business to own....Alot of expenses and extremely low sale transactions.... $5000 to $10,000 per month rent, utilities and inventory and bills ....$10 sales transactions of candy, soda, gum, lottery tickets, cigarettes, etc.....you need ALOT of customers just to break even
Yes, it is a very very tough business. There's a lot of expenses and you right around the mark for the rent and utilities and inventory equal around $6 to $7,000. However, some people do very well and last a long time in this business because they find a way to build up the average sale. You're looking at a $20 average spend in a small store like this.
Is a volume-based business just like any other food-based business. Think restaurants bakeries small cafes. Yes, many do falter in a few years but some do succeed into a very busy location.
I can relate to a lot of what you said, as i had a grocery store in my early 20s. I had to throw in the towel.
But anyway, i now have just started a RUclips channel and was thinking of a topic for one of my first videos. I am going to take this video of yours and build a conversation around it - hopefully this will also benefit you as it will direct some of my audience to your channel. Hope that’s ok … will send you a link once it is published, maybe next week :)
Oh wow. How long did you have it ?
Looking forward to seeing that video! That's a cool idea I'd like to see come to life.
Ok video is now made. I need to edit it. Will send you a link once published …. Friday 6th Sept :)
Thanks and keep your videos coming. I look forward to knowing more
I’ve owned a lot of different businesses
2 different cigarette/tobacco outlets
A hair and nail salon
An apothecary
Cigar shop for 12 years
A commercial painting co
On top of flipping a house or two every year for 15 years
And one year of owning a produce store. And by far the produce store was the hardest most time consuming lowest margin business I have ever been in. You gotta be married to the place and for not very much does.
The serial entrepreneur! Damn you have had quite a bit going on. The produce place and being married to it.... You described my life!
Thank you for being transparent in terms of business. Your a great inspiration!
Really appreciate the compliment.
Let's be partners..let's turn ur store into profits
Haha store is profitable, just explaining what goes into it.
@lifeasiknowit89 you could do better. Grocery stores owners is making more millionaires (in Sweden) then any other "occupation"
@@mikaeldarander3458 seems u supply chicken 🍗 to grocery stores
Do you still sell your coffee? I just watched another video from two years ago and went to check it out and it does not work.
Unfortunately we do no still sell the coffee. I had too many things going on and I retired coffee.
What business do you own? Any harsh realities you want to let me know of?
Where are you located ?
Hey we are in Windsor Ontario