How do I expand my business?
How do I expand my business? –
05-11-2006,08:53 PM
I have come up with an invention of sorts. I found a way to lower the time it takes to clean the exterior of a home "pressure washing" from 14 man hours to 1 hour and it does a great job. I want to franchise and spread out but I have little business experience and not very much savings. Please contact me if you have any ideas.
Re: How do I expand my business?
Re: How do I expand my business? –
05-11-2006,10:07 PM
Hi Scott,
Well that certainly sounds like one heck of a time saver.
There are a couple of things that I got from your message, if I understand it correctly. One is the issue of savings or a funding source, and two, is having the experience in franchising
The first issue of funding is going to require a business plan in order for you to have someone "buy" into your idea or to provide assistance in the form of a loan or venture capital. There are many free resources online to assist you with that.
Stop number one for you should be the Small Business Administration. There is a wealth of information on their website and key information on writing a business plan.
There are also some really great software packages out there specifically geared to a "newbie" in business who wants to write a business plan, and they don't have to be expensive. Try looking at Business Plan Pro for starters.
On franchising,it depends on how savvy you are as to whether you want to go and learn everything there is to learn about the ins and outs of franchising and taking a stab at trying it, or just hiring your "weakness". Now that's not meant to be an insult, that is actually a good business rule to follow...use your strengths and hire your weaknesses!
Try Googling "how to start a franchise" and start looking through the information you find to get just a very cursory look at what is going to be involved.
I hope that helped, ask plenty of questions.
SBF First Lieutenant
09-11-2015,02:17 AM
Business expansion is a much planned thought and works best with the right strategies put into action. When it is an IT company the focus is on increasing the benefits or features of the product or service. When it is a manufacturing company the emphasis would be on installation of latest machines so as to increase sales.
SBF Second Lieutenant
10-30-2015,02:45 AM
Hi scoot,
So you want to expand your business, or even everyone want to expand their business.All you have to do handwork for it, so go for it
Best of luck
Newbie
11-09-2015,04:27 AM
After reading your views it is nice to read that you have invented the technique to wash the outer of the house of 14 man hours to 1 hour. And it is also your great idea to start franchise of this work but as you are running short of money and you also have no business experience. In this situation my advice to you is that first of all visit the public through personal meetings or through media and make them aware about your idea. If people are satisfied with your plan, then you will be certainly successful. As this is a small business and you will find it difficult to get loan from banks as such you have to take the help of advance providing companies for fulfilling your monetary needs. There is only small formality your have to follow in the form of filling one form of the company and it is followed by the visit of dealing of the company employee where you have applied for the advance. With in two days your advance gets ready and you can go ahead your project.
Newbie
04-25-2016,06:58 AM
Business expansion is a much planned thought and works best with the right strategies put into action. When it is an IT company the focus is on increasing the benefits or features of the product or service.
Senior Newbie
07-18-2016,07:02 AM
Read carefully https://www.smallbusinessforums.org/...=1921#post1921
in this post they explain each and every point to expand business.
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Senior Newbie
08-08-2016,04:37 PM
If you would like, My Global Advisory Firm can offer it's services and represent you in front of our clients. Would you be willing to license this product? and is it patented?
Newbie
08-13-2016,06:11 PM
Hi Scott,
You should definitely seek some professional advice before doing anything. Lot's of entrepreneurs start their small businesses without giving any thought to how it will be structured and how they will manage franchisees etc. A small investment up front can make things much easier in the long term.
Newbie
08-26-2016,10:11 AM
It all depends on the product. Selling internationally is a godsend for many companies mainly because the market is less saturated with sellers. Less competition and a larger customer base is very appealing to most.
It is not without it's challenges, but you are not in uncharted territory. What is your concern? Companies have emerged to help with each aspect of the expansion; obtaining a VAT number, shipping logistics, translations, acquiring a local bank account, managing inventory and even managing reviews. That is not to say you need an army of companies to establish yourself internationally, but there is hep if needed.
I'm happy to chat more or point you in the right direction, wylie.leabo@worldfirst.com
