083- Combatting a Competitive Threat from a New Market Entrant

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What would you do if one day, a new competitor showed up in your market?  What if that new competitor was a franchise or company with a recognizable name and deep marketing pockets?  Here's an actual story of a local dry cleaners who suddenly found themselves competiting with a new test retail store from P&G.  

Successful local businesses can face threats from new businesses who see how well they're doing and want in on the action.  This can happen with franchises.  This episode discusses a case study and talks about how to survive.