Adding a New Location with Corporate Business Solutions

CHICAGO - Sept. 19, 2016 - PRLog -- Corporate Business Solutions has the knowledge, expertise and experience to help small and medium – size businesses access knowledge that is often critical to growth. We understand that many business owners dream about adding a second location, but we know that this can be a challenging process, if not planned for and executed properly.

If you're a business owner considering opening a new location, we have three questions that you must deliberate:

• Do you have enough capital for a new location? Opening a second location is usually an expensive project. Between rent / purchase cost, additional inventory, furnishings, employee salaries and various other expenses, a new location can quickly become more expensive than planned.  The source of the money is important, too. If possible, pay in cash to avoid interest payments or giving up equity in your company. Often, when you seek loans or investments, it's challenging to achieve the returns that investors seek.
• Is there a large pool of potential customers for a new location? When considering whether to expand, be sure to pick a location that makes good business sense. Pay close attention to the demographic data for the area you're eyeing, and make sure that you find a site that's far enough away from your current location that it doesn't simply feed off your existing customer base—unless, of course, you're launching a concept that substantially differs from the original one.
• Do you have a qualified operations manager? Whether you aim to relocate to the new location and leave a manager in charge of the original space or plan to hire someone else to take the reins at the new shop, you will need someone with the skills and experience to keep your business running smoothly despite the hurdles of starting up.

About Corporate Business Solutions

Corporate Business Solutions LLC is a trusted resource for business owners. We bring about positive change for small to medium-size businesses in the United States through our knowledge, experience, technology and an unrivaled commitment to providing customer service. We take pride knowing that no other firm has a more qualified staff to provide you with business analytics, consulting and strategic tax planning projects.  The experts at Corporate Business Solutions strive to maintain the highest level of technical expertise through a broad spectrum of internal and external training and interactive client assignments.  For more information, visit https://corporatebusinesssolutions.wordpress.com/.