It’s a very simple question. Let’s say you own and operate a restaurant that serves pizza and pasta at a busy corner of high traffic downtown area. Who do you think you are competing with? Is it another restaurant that also serves Italian food within ½ a mile of your restaurant? How about the McDonald’s across the street? Now, take it one step further. How about the store that sells ready-to-eat meals that people can take home when they don’t have time to cook? A relatively simple sounding question can open up multiple possibilities when you think hard. Taking a simplistic view of the competition can hurt your business in the short-term and put you out of business in the long-term.
