Sometimes we are better off not asking friends or relatives for their opinion about our business decisions. The advice we get is not based on knowledge of our business or market trends. Generally, their advice is not qualified.
The best way to make a decision about expansion is to review your history. How are you doing at getting and retaining customers. Do you keep them happy? Are sales per location getting better as we gain experience?
Then, review what is the best way to expand your business. Check out other products in your market such as HonorSnacks or the Revolution. Ask yourself, if we don’t expand, will we keep our market share anyway?
In order to dominate your market, you need market presence. You need to be in as many areas of your market as you can, it deters the competition. The longer you are there, the better off you are. Competitors will have a tough time moving you out.
The timing for small location vending has never been better! HonorSnacks are perfect for the location with less than 25 employees. The Revolution is perfect for the business with 50-75 employees! Larger companies are laying off workers and moving to smaller locations. Downsizing is a fact. When you pursue smaller accounts, they will not have to give away profits because smaller accounts will not ask for commissions. They will be happy to have a vending service. Whether it is in the honorsnacks business or the small vending machine business!
Tags: expansion
