HM replied on Tuesday, July 27, 2010 06:01 AM
If you do not have a status/ego issue, look into the idea of doing a small retail shop of any basic non-perishable commodity on a road with good traffic (like Wahdat Road, College Road, Main Market). For example, an electric supply store (switches, bulbs, coils, etc), paint, hardware and sanitary (pipes etc, NOT tiles). However, it should be a low-profile store without too much spend on decor.
As an expat, you have a good idea of what quality of service means; just apply that here. If you deal with customers honestly and politely and sell only genuine, good quality products, in a few years you will be amazed at the kind of turnover you're making. This small shopkeeper segment of society has done fabulously well in the last 10-15 years
Plus points:
-Good margins
-No credit sale
-Stock retains its value, does not depreciate
-Low set up/sunk cost
-Timings are reasonable versus consumer retail set ups that stay open till late
-Rent for these kind of shops is not that high
For any business, listen to the advice of anyone you want, but ONLY act on your own research and instinct. Most business people here have no business acumen, just running their dad's business or scamming people. Research the entire supply chain thoroughly (i.e. whole-salers like Shah Alam, distributors who supply to shops, and the shops themselves).
Just never waiver on honesty. It is the one thing Pakistani society will repeatedly try to take from you, but only you can choose to give it up. |
