In 2006, a couple from Zhejiang opened a breakfast shop in a northern city. In one year, they opened 59 stores.
They were very good at business: friendly, the food tasted good, and it was cheap. Very quickly, they drew in a crowd. Customers lining up to buy food was the norm.
Then they posted an advertisement: “Family has something urgent—quick transfer! All recipes are included for free. We’ll teach you how to run the business. Transfer fee: 100,000 to 250,000 (RMB), depending.”
People could see how well the business was doing. Every time they transferred/sold a shop, it was fought over. Then they moved to a different location and opened again, only to transfer/sell the shop once more.
After the shop was transferred, the business was still good, but none of the new owners made money—because the food was too cheap. Porridge was 1 RMB per bowl, large buns 1.5 RMB each, chive boxes 2 RMB for three, freshly ground soy milk 1.5 RMB for a large cup......
Raise the prices? Customers disappeared immediately #ZCSH资产规模突破5亿美元 #欧盟扩中央联络点框架至加密服务商 $NVDAB $AAPLB $GOOGL.US
#欧洲央行二次加息至2.5% #美国8月PPI年率升至5.4% #苹果发布首款折叠屏手机
They were very good at business: friendly, the food tasted good, and it was cheap. Very quickly, they drew in a crowd. Customers lining up to buy food was the norm.
Then they posted an advertisement: “Family has something urgent—quick transfer! All recipes are included for free. We’ll teach you how to run the business. Transfer fee: 100,000 to 250,000 (RMB), depending.”
People could see how well the business was doing. Every time they transferred/sold a shop, it was fought over. Then they moved to a different location and opened again, only to transfer/sell the shop once more.
After the shop was transferred, the business was still good, but none of the new owners made money—because the food was too cheap. Porridge was 1 RMB per bowl, large buns 1.5 RMB each, chive boxes 2 RMB for three, freshly ground soy milk 1.5 RMB for a large cup......
Raise the prices? Customers disappeared immediately #ZCSH资产规模突破5亿美元 #欧盟扩中央联络点框架至加密服务商 $NVDAB $AAPLB $GOOGL.US
#欧洲央行二次加息至2.5% #美国8月PPI年率升至5.4% #苹果发布首款折叠屏手机
