As many of you realise, I run a franchise business.
I've just been offered the opportunity to open a new business close by.
I'm struggling to know the best thing to do.
The new business is in a mall, very close by. It's in a Westfield Mall. Obviously, very expensive. (My shop is perhaps 1km away from the mall)
There will be competition with my shop. But I don't know for sure.
I bought this business with a very big number. The opportunity to start a new business for a very much smaller number, to establish goodwill etc, is very very tempting.
The business has been a lot of hard work. And it's been very trying. I've had just 4 days off work since Jan 1. Though the workload has been a lot less recently(I've actually taken off two days in the last three months).
I've recently been told that, despite a few years out of IT, I could earn some respectable $$ in testing.
So I don't know what could be best.
If I open the new biz I could have some serious cashflow probs.
But if I don't, somebody else could open it, and cause some problems to my existing business. (Some people I know would cause a much bigger problem than others).
What to do?
I've just been offered the opportunity to open a new business close by.
I'm struggling to know the best thing to do.
The new business is in a mall, very close by. It's in a Westfield Mall. Obviously, very expensive. (My shop is perhaps 1km away from the mall)
There will be competition with my shop. But I don't know for sure.
I bought this business with a very big number. The opportunity to start a new business for a very much smaller number, to establish goodwill etc, is very very tempting.
The business has been a lot of hard work. And it's been very trying. I've had just 4 days off work since Jan 1. Though the workload has been a lot less recently(I've actually taken off two days in the last three months).
I've recently been told that, despite a few years out of IT, I could earn some respectable $$ in testing.
So I don't know what could be best.
If I open the new biz I could have some serious cashflow probs.
But if I don't, somebody else could open it, and cause some problems to my existing business. (Some people I know would cause a much bigger problem than others).
What to do?