Why it is Easier to Make Money in Offline Business??
Online business is on boom these days people talk about online businesses even people who already have businesses are trying to make this online but are you confused to catch the new trend or go for traditional online business??
Lets take a look why in offline business the chances of being successful is more??
What is offline business?
A business that is offline in real world where buyers and sellers directly meet it could be a General store, office, or any shop for clothes or Footwear
Why Offline business are more successful ?
Offline Business are more successful
Suppose you have a clothes store and the street on which you have the clothes store Everyday 100k People pass by the road lets assume 40% people actually notice your store that is 40k people and out of that 40k 0.5% people are interest to buy clothes and they visited your store that is around 200 People a day
Out of 200 People 80% left the store without buying anything that is 160 people left and 40 people actually bought and spent an average of 10$ each that is 400$ a day
The offline business are successful because the number of impression is more even if you are a new business cause of the population and most of the people still prefer to touch ,feel and try the stuff before buying it.
But if you start an online business you can reach the whole world but you have to work hard to make your own presence online and you have to give a lot of time, hard work plus consistency.
Offline Business Advantages
• Interaction with customer
• Interaction helps to understand the consumer behavior
• Even New business can survive easily
• Impression is more even for new businesses
• Customer shows trust even if he is visiting for the first time
• Less chances of fraud
Disadvantage
• Limited to geographic boundary
• Required Huge Investment
• Expensive advertisement
• Local audience
• Required people and staffs
• Large number of competitors
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Comment and tell us what do you think about offline business??