Expanding Your Small Business: Ten Things to Know

 So, your business has become a success; what do you do now?

You expand! If you offer a service or product that has given you success in one area, then think of the success it could have further afield. 

But expanding a small business isn’t an easy task. There are various aspects you need to think about and plan before you begin. Once you have thought about them all, the expansion process should be much more manageable.

To give you a helping hand into the world of expansion, here are ten need-to-know things that’ll see you continuing your success.


1. Do your research.


Once you’ve decided where to expand, you need to do your research.

Find out what is already in that area, who your competitors are, and what they are doing. This will help you find out what type of expansion you will be facing. For example, if you are in an area where you are the only professional business in the area, then you may want to make changes to your product or service to make it different or better than your competitors. 


If you are in an area where there are many professional businesses, then this is a good area for you to expand to as it will be more beneficial to you. 


2. Find out about the area.


Before you think about moving your business to another area, you need to know what the area is like. You will have to think about how you can market your business, what public transport is like, how much it will cost to move and if there are any businesses nearby that will help support your business.


If you are planning on moving your business, you might want to think about renting a property first. This way, you can see how it works out before you buy.


3. Look at your marketing.


Once you have found the perfect place to expand your business, you will have to think about your marketing. The service or product that you offered in your first location may not be successful in your new location.


This is because you will have to create a new identity for your business in this new location.


Continue reading Expanding Your Small Business: Ten Things to Know

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