The most effective investment of profit is business expansion. There are several main types of business expansion, following which you will achieve an increase in the money invested in development. Of course, in this case, the responsibility for the development of each type of business lies solely with you, and it is necessary to accurately calculate all possible risks before moving in one direction or another.
Instructions
Step 1
Expand your product range and discover new markets. In this case, it is worth opening the production of goods from adjacent areas only if you are firmly on your feet in the main area. Conduct market research on consumer expectations of your company and the underlying associations that arise from your brand. Try to be guided by them in choosing the areas in which you want to expand.
Step 2
Open new sales offices within the city. In the case of large cities, when the distance and time spent on covering it is critical, it is worth considering the decision to open an additional office in a location that is at a distance from the first. In this case, you get additional customers, providing them with more convenient access to your goods.
Step 3
Open branches in other regions of the country. Remember that your reputation, successfully declared in one city, serves to support your reputation in another. At the same time, the opening of a branch must be preceded by in-depth market analysis - a failure in branch sales can negatively affect the customers of the main point of sale.
