Contact Us: (425) 681-0996
Insurance Agency Network
  • Why IAN
    • Why IAN
    • Join IAN Benefits
    • Build with IAN
    • Grow with IAN
    • Succeed with IAN
    • Become an Associate
    • Join IAN Today
  • About IAN
    • About IAN
    • Mission & Vision
    • IAN Story
    • Meet the Team
    • New Associates
  • Carriers/Partners
    • Commercial Insurance
    • Personal Insurance
    • Farm Insurance
    • Flood and Earthquake
    • Bonding and Surety
    • Workers Compensation
    • Life/Disability Insurance
    • Health/Dental/Vision
    • Specialty Insurance
    • General Agents/Surplus Lines
  • Technology
  • Programs
  • Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Insurance Bonds
      • Workers Compensation
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Property >
      • Home Insurance
      • Condo Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Farm Insurance
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
      • Final Expense Insurance
      • Financial Planning
    • Health >
      • Group Benefits
      • Health Insurance
      • Critical Illness Insurance
      • Dental Insurance
      • Long Term Care Insurance
      • Medicare Advantage Plans
      • Vision Insurance
    • Other >
      • Event Insurance
      • Pet Insurance
      • Travel Insurance
      • Umbrella Insurance
      • Wedding Insurance
  • Associates
    • Refer an Agent
    • Blog
    • News
    • Newsletter Signup
    • Agent Testimonials
    • Find an Expert
    • Accessibility Statement
  • Vendors/Services
    • ADP
    • Agency Revolution
    • Agentero
    • Applied Systems
    • Archway Computers
    • Blue Jay Reviews
    • Bold Peguin
    • Bonjoro
    • Bridge
    • Brightfire
    • Canopy Connect
    • Capital Premium
    • DocuSign
    • epay Policy
    • EZLynx
    • Forge3
    • Formstack
    • GoDaddy
    • Google Workspace
    • GoToConnect
    • Grasshopper
    • Hawksoft
    • IBQ Systems
    • Indio
    • InsuranceSplash
    • ITC
    • Levitate
    • Malwarebytes
    • Ooma
    • Relativity6
    • Ring Central
    • Rocket Referrals
    • Semsee
    • ShareFile
    • Tarmika
    • Vertafore
    • Virtru
    • Wahve
    • Wingman Cyber
    • zix
    • Zywave
  • Access Online Documents
  • Contact
    • Communication Preferences
  • Why IAN
    • Why IAN
    • Join IAN Benefits
    • Build with IAN
    • Grow with IAN
    • Succeed with IAN
    • Become an Associate
    • Join IAN Today
  • About IAN
    • About IAN
    • Mission & Vision
    • IAN Story
    • Meet the Team
    • New Associates
  • Carriers/Partners
    • Commercial Insurance
    • Personal Insurance
    • Farm Insurance
    • Flood and Earthquake
    • Bonding and Surety
    • Workers Compensation
    • Life/Disability Insurance
    • Health/Dental/Vision
    • Specialty Insurance
    • General Agents/Surplus Lines
  • Technology
  • Programs
  • Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Insurance Bonds
      • Workers Compensation
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Property >
      • Home Insurance
      • Condo Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Farm Insurance
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
      • Final Expense Insurance
      • Financial Planning
    • Health >
      • Group Benefits
      • Health Insurance
      • Critical Illness Insurance
      • Dental Insurance
      • Long Term Care Insurance
      • Medicare Advantage Plans
      • Vision Insurance
    • Other >
      • Event Insurance
      • Pet Insurance
      • Travel Insurance
      • Umbrella Insurance
      • Wedding Insurance
  • Associates
    • Refer an Agent
    • Blog
    • News
    • Newsletter Signup
    • Agent Testimonials
    • Find an Expert
    • Accessibility Statement
  • Vendors/Services
    • ADP
    • Agency Revolution
    • Agentero
    • Applied Systems
    • Archway Computers
    • Blue Jay Reviews
    • Bold Peguin
    • Bonjoro
    • Bridge
    • Brightfire
    • Canopy Connect
    • Capital Premium
    • DocuSign
    • epay Policy
    • EZLynx
    • Forge3
    • Formstack
    • GoDaddy
    • Google Workspace
    • GoToConnect
    • Grasshopper
    • Hawksoft
    • IBQ Systems
    • Indio
    • InsuranceSplash
    • ITC
    • Levitate
    • Malwarebytes
    • Ooma
    • Relativity6
    • Ring Central
    • Rocket Referrals
    • Semsee
    • ShareFile
    • Tarmika
    • Vertafore
    • Virtru
    • Wahve
    • Wingman Cyber
    • zix
    • Zywave
  • Access Online Documents
  • Contact
    • Communication Preferences

INSURANCE AGENCY NETWORK Blog

Is It Time For A Second Storefront?

9/14/2018

0 Comments

 
Picture
​Business expansion is a sign of progress. As your business succeeds, growth is inevitable. It is actually a great sign that your concept is sustainable. The big question here is determining when is the right time to expand. Will it help your business grow? Or is it too soon and might negatively impact your operations? Here are the essential things to consider.
​Is The Current Store Working Well?
What is the condition of your current location? Is there a steady stream of customers? Has it been growing continuously? Take note of the things that work, and those that not. Bring over to the next branch those that work, and improve on things that do not. How will it be affected if you open in another location? Will it have a positive or negative impact on it? Will it give you access to new customers that can help expand your business?

Can It Be Duplicated?
Is your concept viable for another location? Can two simultaneous locations be feasible for the type of work you do? These are the considerations you will need to think about. For example, if you are so vital to the operation and you cannot be replaced, then it is not viable since you can not be in two places at once. 

Is It Financially Viable?
Have you planned out how to finance two locations? Of course, an initial capital will need to be raised, but the same is true for all of your other resources. This is true for your time and the people you will need. All will need to be doubled. Is it something you are already ready for? Is the timing right?

Have You Considered Other Alternatives?
Before you give your final decision, have you exhausted all other options? Expansion does not always mean the second location. There are many other means to expand your operation. For example, if you have a food business, other methods of expansion can be considered. This will include delivery, additional seats, extended hours, etc. All of these will give you access to additional customers. Maybe you have not exhausted all possibilities from your current location. With a relatively smaller capital needed, you may even profit more with other options. 

Conclusion
A second store does seem like a good idea for expansion. However, make sure you consider all alternatives and carefully study the impact on your current business. On top of everything, ensure your business is protected from unforeseen and many risks. At Insurance Services of the West, LLC, we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (425) 681-0996. Get your free quote today by CLICKING HERE.
0 Comments



Leave a Reply.

    Contact Us

    (425) 448-9190​
    8561 154th Ave NE
    Suite 250
    Redmond, WA 98052​
    Click Here to Email Us

    Archives

    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    June 2017

    Categories

    All
    ATV Insurance
    Auto Insurance
    Business Insurance
    Dental Insurance
    FAQs
    Farm Insurance
    Financial
    Flood Insurance
    Health Insurance
    Home Insurance
    Insurance
    Life Insurance
    Local
    Motorcycle Insurance
    Safety
    Travel Insurance

    RSS Feed

Navigation

Homepage
About IAN
Why IAN
Carriers/Partners
Technology
Contact Us 
Accessibility Statement
Agent Login

Share This Page

Review Us

Connect With Us

Picture
Picture
Picture

Contact Us

Insurance Agency Network
8561 154th Ave NE
Suite 250
Redmond, WA 98052
Office: (425) 448-9190​
Mobile: (425) 681-0996
Fax: (425) 868-2411
Click Here to Email Us
Website by InsuranceSplash