Monopolistic Competition

Examples of monopolistic competition can be found in every high street. Monopolistically competitive firms are most common in industries where product/service differentiation is possible, such as

Dry Cleaners

Bars/nightclubs

Coffee shops

Grocery stores

Pharmacies

Gas stations

Hotels

Hardware/home improvement stores

Furniture stores

Landscaping/lawn care services

Car washes

Automotive service companies

Restaurants

Select a business in your community that falls under "monopolistic competition" and describe it in this discussion board.

What is the name of the business?

What is their main product/service?

How does this business differentiate itself from other competitors in the area?

How hard is it to start one of these businesses (financially, time commitment, etc.)?

Is the competition fierce in your opinion?

Do you think that they'll be in business for the foreseeable future? Why or Why not?