You Have To Be Ruthless If You Want To Expand
Every small and micro business owner has the dream of expanding their business. However, they get so wrapped up in their fantasy of what it will be like, they fail to realize the reality. There will come a time when you will be faced with the decision to expand and take the risk of bringing your brand to another location. Whether it’s online ecommerce or real-world retail, you will need to take your company to space where you’re back to square one.
Nobody in that specific area will know who you are. Expanding an ecommerce business into another economic territory will come with language and cultural barriers you need to volt over. In the real world, you have to be ruthless and fight your corner as hard as you can.
Buy new or possess?
You may think that the only world is more competitive than the real world, but to move into a new location physically, takes guts. It’s time to be ruthless and think tactically with the intention of competing against your rival directly. If you want more choice, then go for a new property sale.
These properties will be newly built, designed for businesses of the modern era in mind. Space for customers to roam around and feel comfortable will be a design feature taken into account. The LED lighting and energy-efficient heating systems will be installed. The downside is, newly created retail stores don’t have the foot traffic yet.
If you would like to take over, use brokers like Professional Transition Services for example. They specialize in helping clients sell and buy dental practices. If you would like a very popular location, speak with them to find a business that’s selling.
Under the radar
Who says you need to show your face in order to conquer a new location?
Partnering with distributors in nationwide locations is by far, one of the most underrated yet effective strategies of expansion.
You don’t have to invest in brick and mortar locations, you don’t need to set up an office either. All you need to do is have your products sold by wholesale brands in that area. If you’re in California but would like to expand into the east coast, you should partner with a distributor in New York, Chicago, and Virginia.
Your brand name and products will be advertised in stores and customers that you would otherwise never interact with, will buy your products thousands of miles away.
Out on a leg
If you’re not ready to physically expand, you can make your original location more of a nationwide outpost. Gather your marketing team and design a flier that explains who you are in style. Then for one entire weekend, visit cities that are currently out of your circle of awareness. Giving fliers to the public will spread the word of who you are and get more customers from outside your city to visit your website and buy your products.
When push comes to shove, business expansion is not for the faint-hearted. You must be ready to take over a location if it’s being put up for sale.
© New To HR