Big W shows 'serious thought' needed before opening business

WOOLWORTHS is considering closing up to 40 Big Ws as they aren’t paying their way, or are under performing. Business is a tough, unforgiving world.

Could Big W be ready to close some of its stores? Picture: Marian Faa

WOOLWORTHS is considering closing up to 40 Big Ws as they aren't paying their way, or are under performing. This would boost the overall profitability of the Woolworth chain.

Locally during the past four years we have seen the closure of about 6405 businesses, large and small. Admittedly some open businesses where there is already an oversupply of their item. Others, possibly inexperienced but keen, lease in the large centres at very high lease rates and then find out that turnover is often far below expectations, resulting in eventual closure, often at a large financial loss.

Or alternately some choose to rent a cheaper place, but out of the customer flow and find that they can't attract the customers through the doors. To be away from the traffic flow needs a product that everyone wants and is not readily available else where.

Business is a tough, unforgiving world for those not in the right place with the right product. Plus red tape, labour, insurances, accountancy and a myriad of other costs have to be met before the owner sees a dollar for themselves.

It calls for very serious thought before moving into such a venture. Owners of failed businesses are mostly financially ruined for life.

RAY HARCH, Toowoomba
 

Originally published as Big W shows 'serious thought' needed before opening business