Rama Moondra

” Guess What??”  Nikhil,my new client is a fitness freak. His excited voice made me nervous. Must be a new protein bar has hit the market. I let my horses of imagination run loose.

“hirrr!! New gym ..same place where Goldshield operated. Now great Mumbai chain of a celebrity fitness guru is opening here.” I sighed. Not out of relief but disappointed. How can it be??

Market sensitivity and research is vital before starting any business venture. Any product or service needs to identify itself with market need and then meet it too. This is a tough economy so survival is only of the fittest.

Sounds simple doesn’t it? Yet its so amazing, how many people don’t get it.

A new gym has just opened up where the earlier one shut shop. I do not believe it is a good idea. Why? It was at a disadvantage because it was at a place which has no parking space. Most others do operate in residential and do have parking facility.   If the gym doesn’t have a place to park, how can one patronize business? If parking the vehicle itself  is an exercise then how to get takers for the gym?

So the best thing to do is not to touch such property at all and that too with repeated business failure history in a saturated market with mature competitors.

And after all good businesses need is someone with a bit of common sense but sadly most businessmen are lacking in that skill.

People do not sell profitable businesses, unless of course they are retiring, and expect it to cost a fortune if that is the case. So, unless you are doing something radically different, don’t bother buying a cheap business. It is like catching a bullet at shootout scene.