Do you think putting up a sari-sari store is a good business venture? What are the advantages and disadvantages of sari-sari store?

My tito has a sari sari store and he's been running it for 10 years already. Although it is a good source of income, he is also lucky that people come to him because his location is good and he established good relationship with the community. However, one of its disadvantages is that competition is stiff. He cannot raise prices that much and it's easy for him to lose customers since his products can be easily bought elsewhere.