Managing Multiple Business Locations For A Brand New Business Location

926 Words Jun 24th, 2015 4 Pages
It may be hard, but - as any proud owner of a brand new business location will tell you - it’s worth it.

New locations can make all the difference: fresh possibilities, untapped markets, growth instead of stagnation. When you branch out, you’re saying yes to the future and affirming the vision that built your company in the first place. And the road you haven’t yet taken might be brighter than you think.

“I wish I would have known how popular my business was going to be,” says Jos Burnett, the Co-Founder of Volcano eCigs. “If I could have, I would have taken on the liability and opened many more locations sooner.” Put plainly, there’s a lot of money on the table, and if you’re shy about expanding, you might just be leaving it there.

That being said, you’ll want to tread carefully. Managing multiple business locations is almost as challenging as it is rewarding, and it’s easy to find yourself out of your depths if you don’t adequately prepare for the experience. It’s one thing to be a captain of industry, but it’s another thing entirely to become an admiral.

Choosing your property

There are many important factors that need to be taken into account when choosing a new property, so start by making sure you have as much information as possible. Market analysis is a critical first step. Where are your customers concentrated? What kind of property will motivate them to action? How can you manage rising costs without diluting your brand? Answer all the key questions at the…

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