New businesses are created everyday, some of these companies succeed, and many fail after the first year. Many of these businesses that fail, are often overrated.
What are the five most overrated businesses?
Dining out and cooking are a favorite pastime for most of us, but restaurants are the most likely businesses that fail. This paradox is often linked to competition, pricing and experience.
Most successful Restaurant Owners admit that success is linked on experience, and the location. But one secret they never tell you is simply- a willingness to work long hours, and adjust to the demands of their clientele.
Food does sell, but many Restaurants create less income than a successful roadside food stall. Which is a cheaper, and much easier option for anyone wanting to enter the catering business.
2. On-line Retail
On-line retailing has become the favorite business for many people to run. The set up costs are low, and it can be promoted in your spare time. But the downside is most online retailers fail, simply because of too much competition.
Pricing often may be lower than traditional stores, but delivery costs often offset the savings made by shopping online. The main drawback of online retailing is time, you need time to promote, and often funds to pay online advertisers.
3. Independent Consulting
Many professionals often think about turning their expertise into a business, by offering consulting services. A great idea, when the World is going online, and expert advice is always needed.
However, the main drawback many professional Consultants agree on is the constant need to find new work. Projects are time-based, and once one project ends there is often a waiting period that could weeks or months.
Consultants often spend more time searching for work, than actually working. Perhaps …» Read more