The decision to expand your business should be based on a number of components, such as financials, logistics and your own emotional readiness. As logic suggests and many have overlooked, only expand your business if you think it will be profitable. If there is an area of town that is not served by competitors or a niche market with unmet needs, then the stage might be set for expansion. Scale Up and Over the Competition Achieving economies of scale should be taken into consideration when debating over whether or not you want to expand your business. As your (more…)