The small business I chose to pick is an Asian grocery store in my town. What makes this distinctive from any other grocery store in the area is because they sell not only a variety of products but also many items that are not in other stores. This grocery store sells a different kind of Asian sauces, noodles, and fish. Since I don’t have a car, and a store similar to this one is more than seven miles away. In other words, it is accessible. What this business provides to its buyers is considerably appreciated. This business has only been operating for two years and successful. Even though, there is a limited Asian who lived in this surrounding area. Recently, however, the Asian population surrounding this business grown gradually. Those people can be attributed to this business. An important reason is that they want to be assured that they would be able to buy a variety of Asian foods, which is a significant portion of our diet. This business not only serves Asians, but also attracts customers from other countries who love spicy sauce and traditional Asian foods.
The other business that benefited from this Asian grocery store is a Vietnamese restaurant, which is located right next to the Asian grocery stores. Since these both businesses target the same consumer base and are not the competition, but act as a compliment to each other, they both have been successful so far.
The business only hires seven employees. In my view, the annual sale of this business would be less than 1.5 million dollars. Even though the revenue is not that high for a business compared to large-scale businesses such as Costco, Winco, and Walmart, the tax this business pays helps a small city hugely.
In conclusion, how this business has affected my personal life can be summarized in one word “simple”. It has made our life easier by giving us the option to buy our groceries locally rather than take a bus approximately an hour away to the nearest other similar business. Almost all daily goods can be bought at any other store like Costco, but in case of special sauce that is not available anywhere else, it is sold only at the Asian grocery store that I mentioned before.