Question:
Should I set-up a new pharmacy? Is it cheaper?
This question was asked on 31 July 2008
Expert Response
On face value it would appear cheaper. However, you need to factor in the years it would take to get the business to a profitable level and any investment (or losses accumulated) until it becomes profitable.
An existing business has a known sales level and is more likely to be profitable. Day 1, you make money.
Setting up a new business can take 3 to 4 years before it reaches break-even. Is it worth paying a premium for security of income?
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