This is a tricky question since there is no universal answer. Expansion is a gamble, and a lot of entrepreneurs are hesitant to pull the trigger when they aren’t 100% sure they’ll do enough business to make the expansion worthwhile. And while it’s easy to say you should expand when you find you’re doing a ton of business, even that may be pre-emptive.
The first thing you should trust is your gut – if you feel like it is time to expand, then seriously explore that option. But you should also consider a few other factors.
Has your competition recently expanded?…Continue reading