4 ms·

By not raising wages, keeping your employees and staying open you will definitely go under. Maybe you cannot outcompete the other business but by not even tryin

by consp 5y ago

By not raising wages, keeping your employees and staying open you will definitely go under. Maybe you cannot outcompete the other business but by not even trying to go open you have already lost. There is always convenience customers, loyal customers and opportunity customers who do not care about the 2-3% difference in price. I'm not saying you are wrong, it could definitely be this case, just that there might be more factors to consider.

bryanrasmussen 5y ago
>by not even trying to go open you have already lost. sorry, I thought the store was open until it closed down and posted its reasons? The problem with following the don't raise wages strategy and wait for your competitor to do it is if they outlast you - you reach the have to close position first. >By not raising wages, keeping your employees and staying open you will definitely go under. unless something changes that will make it profitable to raise wages. >There is always convenience customers, loyal customers and opportunity customers who do not care about the 2-3% difference in price. In a small margins business this might not be enough to keep you afloat.