Most business owners hope that their company will grow and be prosperous. And with a great idea, the right resources and a lot of hard work, it’s certainly possible to transform your small business into something much bigger.
If you’ve found success, and after a few steady years of operation and growing your customer base, it may be time to consider adding another location. It will make your products or services available over a wider area, so that you can reach a larger client base and increase the size of your team.
If you’re ready to expand your business, here are three tips that will help you establish a second location for your growing business.
Develop Brand Guidelines
Brand guidelines help to create a powerful and recognizable message that helps define your brand from the competition, and strengthens your relationship with your customers and audience, as they are reassured by its familiarity.
By establishing continuity in your internal and external communications, such as in graphic design, flyers, e-newsletters, social media, signage, etc. across your locations, you are creating a unified brand message across all your locations.
This brand message could express anything, from relaying the quality of your product to how excellent your customer service is. The key is that you need to make sure that when customers visit your new location that they recognize your brand and that they receive the same message that they have come to know and expect.
Hiring Is Key
Opening a second location is often similar to starting a small business, so it’s important for you to be present in the beginning. This allows you to identify challenges early on, and then take appropriate actions to correct them.
From there, it’s all about hiring the right people to be in charge of your new location. With the right managerial team, you’ll be able to ensure that standards are met and that other staff are held accountable. And when checking in with your new team, it’s crucial to be a resource and source of support, rather than an outsider.
For your second location to be successful, it is necessary to engage and communicate with your employees. Listen to their feedback and work with them to support your business goals.
Location Is Everything
When you’re thinking about expanding, it’s important to select the right location. You need to have a clear idea of your needs and your end goals.
Before you start shopping for your next business space, consider:
- What you must have
- What you’d like to have
- What you absolutely can’t have
- How much you’d like to pay
For example, if you’re going to establish a walk-in storefront, monitor traffic outside of your potential location at different times of the day and different days of the week to gauge how busy it will be.
Remember, it’s absolutely crucial to do your research and know who your customers are, and their proximity to your potential location, to help ensure the successful expansion of your business.
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And if you want specific questions answered for your business, make an appointment to meet with a Small Business BC Business Advisor or Small Business BC Business Plan Advisor now.