​My tailoring business it’s failing

What do I do next? I have studied fashion design and I’m passionate about fashion. I opened a tailoring and alteration shop around town centre 1 year ago but it’s not bringing in a lot of profit and tbh I work a lot, just myself there. I am thinking one of the issues is that around me are 2 other tailors with a good reputation so the competition it’s high. I don’t know why I opened in that location 😒 So…what now? Do I try and sell it and lose money in the long run because the value will be low? Or do I rebrand it? And focus on something else? Renting clothes? Bridal repairs? Making suits? What it’s a good market in the uk and maybe fashion related . Any suggestion will be amazing and very helpful. Thank you