Dealing With Expansion, Marketing And More

Forbes.com:

Question: I have an 11-year-old, one-location, profitable retail business that I would like expand faster than my private equity will allow. I think it is a very good franchise model. Your advice on using franchising as a growth vehicle and how to proceed?

Answer: Congratulations on your success thus far. My suggestion would be to open another one or two stores to see how successful they are before seeking outside financing to accelerate expansion. You have no doubt been successful as you have been hands-on in your store. With new stores, you depend on store managers–this will be a big change for you. Good luck! – Chris Greendale

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