Thursday, October 16, 2008
Going out of business
People say 9 out of 10 businesses fail in 2 years. Out of the business who succeed, 9 will failed in another 10 years. Myth or truth?
My pharmacy is nearing 3 years old and i have seen many businesses come and go. I have the opportunity to see becoz i opened my shop in a new area, on a new row of shophouses.
My town, Teluk Intan is too saturated with pharmacies. If i open it that area, competition will be tense and i guess the pharmacist there will definitely hate me. So i choose a new area and try to introduce them pharmacy service. It is sad as i make new friends here, but after sometime they r no more.
Here is the list of closed business.
1) Chinese restaurant (<2years)
WSPang had tried the food b4. Salty and not nice.
2) Malay restaurant (< 1 year)
Nice food but i dont like the boss smoking.
3) Steamboat restaurant (<2 years)
4) 24 hours supermarket (<2years)
5) Joss sticks shop (< 2years)
6) Cake and bun shop (<2months)
7) Night Bar (<6months)
Business who succeed the 2 years curse
1) Mamak shop
3) Evacuator shop
4) Handphone shop
5) Chinese Food Stall Restaurant
6) Pharmacy (ops, but dont come to my place to open business, i will make sure u fail within a year)
7) Electrical shop
8) RM 5 shop (selling cheap cheap products)
So, u think it is a myth or truth? Make sure you know wat r u into if u want to open business. U will have to sacrifice for long hours. I hope i can survive the 10 years curse as well.