There are several reasons that lead to the failure of Michael Williams’ business. The site is one of the main results. This music store is situated at the Fairfax Apartment Building, which is on a small side street just outside of town. Therefore, people can hardly find the correct direction about this store.
It is also 3 miles away from a shopping center that has two large music stores standing there. That is, the wrong position brings about the loss of Michael Williams’ store in the intense competition among these music stores.
In addition, CDs’ categories are too few and narrow. According to the survey in this region, the majority of residents of the Fairfax approximately aged from 51 to 60. However, most of the CDs in Michael Williams’ shop are hip-hop and rock, which may be teenagers' favorite. As a consequence, that’s why this store doesn’t successfully attract extensive consumers.
Moreover, the open time is short and inappropriate. Based on another investigation, the time that fewest numbers of people walking past the store is from 12 to 6 P.M, form Monday to Friday. Because the shop was open Monday to Friday from 1 to 5 P.M, during which hardly any passersby will past it, it sells not very well.
The last account is that Mr. Williams won’t accept checks or credit cards. It is also an effect on the store’s being out of business. Due to these above, we can learn why Michael Williams has a failed business.
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