Would it be silly of me in these times to open my own business if it is a niche market? For all the money i would need to put into it, i am not sure it would work because the recession. Do you think it is worth the risk?
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I look around me and I see a lot of stores going under. Walk through your nearest mall, ours is nearly half empty with Gottchalks (one of the main stores of three) closing - or maybe its closed now, its been a while. With half the mall dark it was a depressing ever present reminder of just how sour the local economy is. But the old saw "it takes money to make money" also applies. Everyone being afraid to spend money will lead to a longer recession. Currently I would wait to see what your local markets are like. Around here even our 'needed' stores are sinking. My Grocer is going under - been going to them for decades, but they are getting ready to do one last sale and close the doors. If this is the type of economy you have in your area, then right now is a bad time. However if your local economy is doing relatively well or even rebounding (some local economies are) then it may be worthwhile to catch the local wave. Go around to your local businesses, explain to them what you want to do and let them tell you what their current experience is. Let their experience be a thermometer of your local economy.
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