This may not be the best sub to post, but I'm not sure where I should ask this. Either way, should be an interesting topic for business minded people
I was recently in Greece and witnessed dozens of souvenir shops, sometimes side by side, with huge inventories and the owners hard selling to people walking by. I thought to myself, this seems like the worst possible business model. Sure you can eventually sell your unsold inventory to warehouses and other souvenir shops, but how do these people survive?
At least 80% of these places are empty and assuming they can sell a few trinkets per hour, that's like $5-7 profit/hour. Minus the cost of owning and operating a physical store.
Why don't these people get fast-food minimum wage jobs where the income is at least guaranteed? Or server jobs at restaurants? I get that some people prefer having their own business, but why not something less common like an ice-cream shop or cultural food shop?
[link] [comments]
