There are a few things to consider before opening a new location.
There are few things as exciting as running a successful business. Often, finding success leads some to consider opening up a second location in a new market in an effort to increase profits. However, before you jump into starting a new location, be sure it’s the right next step for your business.
Even if an exciting opportunity comes your way, be sure you can handle it without sacrificing your primary business. You should be bringing in a steady profit, and your staff should be able to handle the business while you set up the second location. Next, be sure you can duplicate your business. Are you willing to share the family secret recipe? Is the key to your success clients who insist on working with you alone? If you’re satisfied that your business can thrive at a second branch, then start planning.