Hi all,
I have not long finished reading TMF , and am very early stages of my fastlane journey. I am doing a lot of learning and courses, and trying to decide what business to start.
One of my favourite ideas is an easy, convenient, super tasty lunch store, with the idea to franchise once I have a few locations.
Pluses I see are - unlimited leverage (everyone needs to eat everyday), medium barriers to entry, wont be dependent on me working and making food all day forever, huge potential to expand. And I can start small, just doing it at weekends at farmers markets etc to test the product.
However, biggest cons I see are a lot of competition (although main rivals like Greggs and Pret are garbage IMHO), dying high street (with lots of commuters working from home now), and biggest of all, small margins per sale. I would need to consistently shift tons of product to make profit, pay staff etc, and that's the biggest thing holding me back.
So can something with small margins be fastlane? Or is it too hard to scale?
Any thoughts much appreciated. I am very new to this space but keen to learn fast.
I have not long finished reading TMF , and am very early stages of my fastlane journey. I am doing a lot of learning and courses, and trying to decide what business to start.
One of my favourite ideas is an easy, convenient, super tasty lunch store, with the idea to franchise once I have a few locations.
Pluses I see are - unlimited leverage (everyone needs to eat everyday), medium barriers to entry, wont be dependent on me working and making food all day forever, huge potential to expand. And I can start small, just doing it at weekends at farmers markets etc to test the product.
However, biggest cons I see are a lot of competition (although main rivals like Greggs and Pret are garbage IMHO), dying high street (with lots of commuters working from home now), and biggest of all, small margins per sale. I would need to consistently shift tons of product to make profit, pay staff etc, and that's the biggest thing holding me back.
So can something with small margins be fastlane? Or is it too hard to scale?
Any thoughts much appreciated. I am very new to this space but keen to learn fast.
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