Finance

How do I know when my business is financially ready for a second location?

Guest Writer
Entrepreneur, Business Planner and Angel Investor
min read
Opinions expressed by Entrepreneur contributors are their own.
If the first and only location isn't doing well or needs fixing, then don't get into a second location.

If your first location is doing well, then that's something that comes from business planning. There's no magic formula. You look carefully at the market in general, the market at the second location, what it would cost you in expenses and assets and related development costs, how much your fixed costs would increase, and how much your sales would increase. Make carefully researched educated guesses.

Tim

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

3 Strategies for Entrepreneurs to Win VC Investments