Professional Documents
Culture Documents
If I was Ms. Rivero, here are the things I would consider before putting up a new
branch.
2. Do research the optimum location. One of the first considerations for any
entrepreneur looking to grow his or her company is the best location for their
second branch. If I want to open a shop or store that will depend on a large
there aren't a lot of people passing by the new place on a daily basis, I'll have to
put in a lot of extra time with the ads to ensure that people know about my
business. Aside from that, it's also a good idea to be in a place that has good
measure and reproduce the processes that made the company successful in the
first place. Documenting the business processes thoroughly makes them easier
4. Determine the cash flow. Determine a reasonable time period for the second
some new employees to staff this second branch site. If this is the case, it is
enough new hires ready to begin on launch day. I will need to provide some
instruction to these new hires as well. This is particularly true if they have
done prior to the opening of the new store to ensure that everyone on your new
6. Don't be silent on social media. I'll want to get all of my loyal customers
not be silent about expanding the business; otherwise, very few people would be
aware of it. The best way to ensure that your big launch reaches as many
media. If I've decided on a launch date, I have to make sure to tweet and
Facebook about it as soon as possible. Then I can be certain that the major
same obstacles as starting a new company. This can be a welcome and diverting
obstacle for many entrepreneurs. It is crucial, however, not to lose sight of the
spreading themselves too thin if the proper processes and people are not in
place. In reality, opening a second location could be too soon to increase the
risks associated with overexpansion. So, proceed with caution: even at this
long-term trusted employee will choose to move and lead the new office. If this
is a choice, it will almost certainly help to keep a cohesive culture. Daily video
conferences using Zoom or a similar method may also promote teamwork and
community. Try hosting a business retreat at least once a year to get the team
enough demand for our product or service, and adapt our strategy to the
or even a new country, we have to be certain that I can legally offer my product
Additionally, ensure that the new location complies with any taxes and legal
Expansion can be one of the most effective ways to stimulate development. It is also
inherently dangerous. By taking all of the above into account, you will increase the
Freedman, M. (2020, November 30). Time to Expand? Tips for Opening Another
another-location/
business/advantages-and-disadvantages-of-opening-a-new-branch-office/
Nicasio, F. (2020, October 20). Opening a New Retail Location? Here’s How to Drive
https://www.vendhq.com/blog/opening-new-retail-location-heres-drive-word-mouth-
traffic/