Expansion: To Open More Locations or Not
The excitement that comes with being successful at your first location is awesome. You feel like you can beat the world because it means you’ve accomplished something that most small business owners can’t. It’s something to be really proud of when we realize that about 80% of startup businesses go under within the first couple of years. That leads to the inevitable question that almost all successful small business owners ask: “If I can do this well with one location, couldn’t I make twice as much money with two, or three times as much with three?” The answer unfortunately is “no” in most cases, and here’s why.
