Posts Tagged ‘Expansion’
5 Ways to Expand Your Small Business Internationally
Every business, no matter the industry, size, or target audience, constantly strives for growth. After all, the more your company grows, the more customers you reach, revenue you make, and opportunities you have for future development. One of the best ways to facilitate growth is to expand your small business internationally. The digital revolution, evolving…
Read MoreHandling Budgets and Debts When Expanding
For small businesses and new entrepreneurs, the prospect of expansion is both exciting and daunting. It signifies growth, increased profits, and an extended customer base. But handling budgets and debts when expanding your business is an essential factor. The road to expansion is riddled with financial challenges that must be navigated thoughtfully. Picture credit Budgeting,…
Read MoreExpanding Your Franchise Portfolio: Should You Double Down or Diversify?
We’ve all heard the saying that we should never put all our eggs in one basket. This lesson is applicable in so many ways—including franchising. If you rely on a singular source of revenue and disaster strikes, you won’t have any “eggs” left. In the world of franchising, there’s always the question of how best…
Read More5 Steps to Planning an Online Business Expansion
There are two ways to expand your business beyond your current setup. One way to do this is by identifying new markets for your existing product. The other way to do it is to offer new products to the existing market. Both these strategies have their pros and cons. Expanding to new markets (called horizontal…
Read More5 Ways to Make Your Business Expansion Easier
Expanding your business can be a daunting task. Frequently, it comes with headaches such as buying a new office building, hiring new employees, and creating new departments to handle the increased responsibilities. But it doesn’t have to be such a hassle. With these tips, you can expand your business without the headaches involved, and take…
Read More5 Financial Considerations When Opening a Second Business Location
When you decide you’re ready to open a second business location, you’ve likely been putting in an incredible amount of hard work already to achieve some success. It can be a fantastic feeling to know your dream is becoming a reality in more places than one. But before you can open another outlet, you’ll have…
Read MoreWhat to Do When Franchising Isn’t the Right Fit for Your Business
As a franchise lawyer, I see the incredible value for business owners to take a proven business model and rapidly expand through franchising. It also builds in revenue streams and places dedicated individuals at the helm of each individual franchise unit. Yet, despite the benefits, franchising isn’t a fit for every business model out there. Additionally,…
Read MoreGoing into New Markets
When a bonsai stops growing, you know it’s dead. ~Japanese Proverb Continuous growth is critical for each and every business, but very often, existing markets get so rife with competition, it is almost impossible to grow. In these cases, a business’s only option may be to expand into new markets. This can be a very…
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