The Top 3 Essential Questions to Answer Before Opening a 2nd Location
It is crucial to have adequate funding in place before branching out, such as loans, outside investors and/or your own capital.
The new year is a time to take chances and big steps forward to fulfill your aspirations. It is also a time when most of us make resolutions, some of which we actually keep. For small business owners that have had a prosperous previous year, many resolve to expand their business in the new year with a new, second location. However, before taking a leap of faith, it is imperative that you ask yourself the following three questions prior to opening a second location to determine if expansion is feasible:
