You have a great local business. You have a product or service that your customers want. Eventually there comes a point when you begin to wonder how to reach more customers. The traditional approach involves raising capital to allow you to open more locations. True, this approach can grow your brand and bring in more customers, but it also means that expanding your business is all up to you. You will be securing and signing for the debt or outside equity and ultimately taking on the increased risk of expansion.
Shelly Sun, CEO and co-founder of BrightStar Care, a caregiver placement agency with more than 200 locations, thinks now might be the best time to expand your business. Sun, the author of the forthcoming book “Grow Smart, Risk Less: A Low-Capital Path to Multiplying Your Business Through Franchising” (Greenleaf Book Group Press, October 2011), gives BusinessNewsDaily five reasons business owners should consider expanding their business now.
Expand your thinking on expansion… read full article.