When Should You Expand Your Business?

I’ve thought about this every week for the last 10 years.

Which leads to more questions:

  • Am I ready to expand?
  • Stay local or get into a new market?
  • Open new locations or acquire existing ones?
  • Stay in the same brand or diversify into a new one?

just released a YouTube video reviewing everything I wish I had known years ago.

video preview

I remember back in 2017 feeling the pressure of going from 2 to 4 locations.

Opening our first location from zero and not knowing how long it’ll take to become profitable.

The most significant move was expanding into a new market.

In 2021, I only had locations in Philadelphia. There was an opportunity to acquire seven existing locations 90 minutes away in North New Jersey.

I faced the most common fear: failure.

What if this doesn’t work? What if they lose money? What if they become a distraction from my existing locations, and everything goes to shit?

I conquered that fear by asking, “Why not me?”

Other franchisees successfully operated locations all over the country.

If they could do it, I could do it.

In the video, I also get into:

  • Risk vs. reward
  • Gaining more freedom
  • Where specifically to expand next
  • New synergies that expansion creates

Plus a whole lot more.

Subscribe to my channel while you’re there. I’m on a mission to become the #1 franchise channel on YouTube and only need 172,190 more subscribers 🙂

I’ve learned that growth happens in stages. At first, progress feels very slow and hard to see. Then, suddenly, things start to click, and things get exciting.

Who do you strategize with about expanding your franchise business?

Structuring your 1st seller financing deal with a neighboring franchisee?

What if you could tap into a trusted peer group of franchise owners who’ve already solved the challenges you’re facing today?

That’s what we’ve created with 8-Figure Franchisee.

Reply here to learn more.

Cheers!

Brian

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