A lot of time is dedicated to research when a business is first being started, as it takes a plethora of knowledge to create and maintain a successful company. When you started your company you more than likely sought help from financial advisors, read business related books, magazine, or other business resources. When starting a business it is necessary to invest a lot of money, time, and emotions in order to get the business off the ground.
Once the company is operating smoothly and is making a profit, then it has survived the startup and a successful business has been built. However, after a while it may be time to take the company to the next level and grow the business beyond its initial and current status. There are numerous options when it comes time to expand your company.
Fast and Easy Funds is an independent lending group who offers small to medium sized businesses access to financing options to grow their companies. We have a few loan and working capital options available to business owners, all of which are easily accessible through a fast approval process.
At Fast and Easy Funds, we know that there are many routes you can take when it comes time to expand your existing company using working capital. Choosing the option that is best for your business will depend of the type of company that you own, your available resources, and how much funding will be required. If you are ready to commit to the endeavor of expanding your company, Fast and Easy is here to help.
Here are a few routes in which you can take to grow your business with Fast and Easy:
1. Opening a second location.
This option typically is the first to come to mind when entrepreneurs consider expanding. Physical expansion isn’t always the best growth answer, unless you are willing to carefully research, plot, and create a number plan.
2. Set your business up as a franchise or business opportunity.
This choice for expansion is a good option to allow your company to grow under the vestment of employees. You will need to be a strong leader who knows how to keep the key vision in focus, at all times.
3. Establish a partnership.
Align yourself with a similar type of company; this move can be a powerful way to expand.
4. Diversify your product or service line.
Diversification is a great growth tactic, since it will allow for multiple streams of income that will fill seasonal voids while increasing sales and profit margins.
5. Merge with or acquire another business.
When you purchase another company, you will expand your customer base and technologies or services.
6. Secure a government contract.
Having a federally funded contract is the best most guaranteed way for a small businesses to grow.
7. Consider taking your company internationally.
Expanding internationally will broaden the horizons for a new customer base. You will need to find a foreign distributor who will carry an inventory of your product and resell it in their domestic markets.
8. Develop your website and online business.
Landing your website in search engine top results is key. More than 80 percent of customer traffic comes via search engines. Making sure your website is visible is crucial, so Fast and Easy Funds can lend you the funds in order to invest in a good website developer or SEO team.
9. License your product.
This can be a great, low cost growth, but effective medium if you have a service product or branded product.