Time to Grow your Business – Here’s How (Tip 1)
June 1, 2017
Tip 1 – Open another Location
This might not be your best choice for business expansion, but it’s listed first because that’s what often comes to mind first for so many entrepreneurs considering expansion.
- Make sure your maintaining a consistent bottom-line profit in your business and that you’ve shown steady growth over the past few years.
- Look at the trends, both economic and consumer, for indications on your business staying
power. - Make sure you administrative systems and management team are extraordinary; you’ll need
them to get a new location up and running. - Prepare a complete business plan for a new location.
- Determine where and how you will obtain financing.
- Choose your location based on what’s best for your business, not your wallet.