I have been planning on opening a business for over a year now, and my entire model was based on two major factors; 1) it does not exist in the town, which is all about artists and local businesses...so perfect match for my cake decorating business idea. 2) The location is central to a ton of foot traffic, which would help spread the word and create some buzz. Obviously there are other things I have considered, but for the sake of my question lets just focus on these two topics. Now, back to my point. Recently, I discovered a similar business has opened in the exact location I was eyeing. I am aware that competition is good for business, and that my confidence cannot be shaken too much to throw me off my intended plan. However, I am making a move to a different State, and investing a large portion of my savings into this...I really cannot afford to fail for many reasons. My question is, like the iconic Gunslingers of old Western movies "Is this town big enough for the two of us?"