The epitome of cheapness

Posted by ScottDudley under Startups
From http://www.50plusbizsystem.com 3973 days ago
Made Hot by: steefen on January 10, 2014 5:39 pm

I've got a quick question for you... What's the first thing which comes to mind when you think about Walmart? I'm willing to guess it wouldn't be quality.

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Comments

Written by AngelBiz
3970 days ago

I think you need to differentiate between cheap product and cheap business. There is always a market for cheap product. Walmart grew so big on the back of selling products cheap. Now obviously, you cannot expect the quality of Nordstrom when buying from Walmart, but there is a segment of population who needs, wants and buys from Walmart. Cheap business on the other hand is a different animal. It is cheap for a reason. If you are willing to spend time, effort and money to fix it and bring up you can probably buy it at the right price and make money. That's what the house flippers do.

In short, there is market for both - cheap and quality. You have to pick one. Can't have both.

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