My ballroom dance studio in 1.5 miles away from Fred Astaire Westerville, 4 miles from Fred Astaire upper Arlington and 3 miles from Arthur Murray. These three studios are apart of huge corporations that put thousands of dollars in advertising and hiring. Each corp does over a Billion dollars a year.
Now my little mom and pop studio that has been opened for 7 weeks in our new location has taken over 50% of their clientele. Our revenue has more then double past two months. Our product (knowledge ) that we have is far superior to what they offer.
Any small business needs to know their market, what the people want and deliver what is expected or exceed expectations there is always going to be a bigger name out there. As long as the business doesn't try to compete or be that bigger business and sticks with what they do best there is nothing to worry about.