- April 4, 2020
OUTLINE FOR BUSINESS EXPANSION
OUTLINEFOR BUSINESS EXPANSION
Outlinefor Business Expansion
Business Expansion in Retail, Food, and Services
IntroductionParagraph:Saturation of the market makes an entrepreneur have a thought ofexpanding his or her business by exploiting new locations. There arenumerous factors to consider before one takes the step of expandingtheir businesses. However, the current relationships could have asignificant role to play in the success of the business in the newlocation. As one begins to search and plan for the expansion, it isimportant to consider the relationships with the clients, employees,and vendors.
1stBody Paragraph:One principal place to begin with in the market research on theexpansion is the customers.
a.One should determine whether there are enough people in the newlocation who can make potential customers for the retail, food, andservice.
b.It is also important to have something unique to offer so as to putoff competition.
2ndBody Paragraph:When expanding, it is important to consider your current team ofemployees.
a.A business expansion calls for the employment of additional staff buteven so, the current team serves an important purpose in jumpstartingthe business in the new location.
b.It is also important to motivate both the current and the newemployees.
3rdBody Paragraph:It is important to talk to the current vendors to know whether theyhave the ability to provide their services in the new location, orwhether they can meet your needs after the expansion.
a.Most likely, the vendors will be happy and feel privileged to do morebusiness as this will increase their income.
b.Their service will also be helpful as it will save time from havingto create and build new relationships, and therefore, having readyvendors allows one to concentrate on other issues.
Conclusion:Obviously, there are loads of things to consider when expanding abusiness. It is, however, paramount for one to consider the currentrelationships as they are the reason for the current success, andcould also lead to success even after the expansion. The key point isthat the people around can be of great importance to the success ofthe business and it is, therefore, important to cultivate therelationships.
Perry,C. (2011). Growth Strategies for Small Firms: Principles and CaseStudies. InternationalSmall Business Journal,5(2),17-25. doi:10.1177/026624268600500202