4 Essential Things To Consider When Expanding Your Business

Many good businesses eventually come to a fork in the road on their journey to success. They need to expand physically – either in situ or at another location entirely – to grow financially. But with the opening of new premises, relocation or expansion naturally comes risk. In this article, we explain how to minimise the risk of detrimental factors – whether you plan to invest in a brand new shop front, large new office building or open an identical business elsewhere.

Weigh up the pros and cons

Refits and the opening of new premises can be revolutionary for businesses – but they can also be destructive. The process needs to be carefully managed – but realistic planning also needs to take place prior to developmental work commencing. Think about how much downtime this building work or the acquisition of a new building will result in. It’s key to minimise any disruption for customers so that you can keep cash flowing and ensure that they are happy and continually engaged with your brand. Also think about the energy it’ll take for you personally and your staff, as well as any financial constraints.

Keep branding constant

It’s really important to ensure that your branding is kept consistent for all sites. Your customers recognise and engage with your business through your branding – the colours, logos, designs and stylistic elements. When opening a new site or revamping an existing one, you need to ensure that design experts are on hand to guide you. Without this, you could find that your costly refurbishment brings in new custom, but causes you to lose a portion of your old clientele.

Keep customers in the loop

Your customers will need to be informed at every step of the way if there is even a small chance that normal service or appearance could be disrupted. Make sure that weeks before work starts you’re letting people know that things are going to change – for the better. Friendly posters and social media interaction with a positive tone will comfort and reassure customers, ensuring that they continue to spend with you throughout the construction period.

Invest in complementary marketing

Once your building work is completed you need to make the most of it! To increase footfall and augment revenue you’ll need to let new people know that you’re up and running with a brand new look – and promote the benefits, too. For instance, if you’re a busy café and you’ve just had an extension built, let customers know that they no longer have to book weeks in advance. If you’ve opened a second branch of your business, let local people know so that customers who once travelled to visit you and new clients alike can come and see you.

Choosing the right company to help and guide you also minimises disruption. If you’re planning an extension, new shop front or curtain wall to benefit your business, get in touch today to see how SRL can ensure that the process is smooth and stress-free.