Successful businesses eventually will consider expanding their business by opening a second location, offering franchise opportunities, pursuing new markets, or developing new products. Things to consider are proper planification like market research on new or alternative locations, analyzing the strength of the business or considering if your business operations/processes can be duplicated.
Resources to help you get started
- Expanding locations: https://www.sba.gov/business-guide/grow-your-business/expand-new-locations
- Ways to grow your business: https://www.thebalancesmb.com/top-ways-of-growing-your-business-2948140
Understanding upcoming local projects within the area you are considering in opening a new location: