Hi all, my wife and I have decided that we are going to look into the possibility of opening another shop, this time it would be closer to our home in Appleton, Wi. I have asked a few people and want to put it near the east side of town where I would be the closest shop to several nice suburbs and major retail shopping centers. There is already a shop 2 blocks from the building that I am looking at that has been established for a while, but I am confident that I can wipe them out in 3-6 months by offering a better buying experience (that shop is NASTY dirty and understocked). I think that capturing 50-70% of his business is doable as long as I have a clean shop that is well stocked and smiling&helpful staff, resulting in him not being able to make rent/payroll and folding.
What experience do you have with similar exploits?
Were you able to wipe out the under-performing shop?
How did you manage to grow your business after the “new shop” hype wore off?