4 Steps to Make the Above or Similar Type Small Businesses Profitable 

 

1. Branding

Branding is often thought to be for the big shots. However, if you examine how the big shots started out you would be both inspired and surprised to learn that they started from very humble beginnings just like you. So no matter how small your start up, Brand it! This simply means giving it a catchy name that your customers can associate your services with.

2. Marketing

In the case of the restaurant, you want to think up of creative ways of announcing your presence and sending people your way. It can be done through flyers, lighting, word of mouth and online forums. A free meal can also get traffic through the doors.

3. Competitive pricing

Most consumers are price sensitive and like a good bargain. Competitive pricing where possible is a great marketing tool as it makes your product more accessible to many users. Consider what your competition is charging and do not go too much below that.

4. Excellent service

In addition to competitive pricing, provide exceptional service. In fact competing on service as opposed to price is the way for future businesses whether small or large. It is a proven way that will keep your customers coming back even in the midst of competition.

Being innovative is great, but if you miss the above steps, you can end up with an unsuccessful attempt at a business.

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