The expansion stage in a small business’s lifecycle is usually characterized by increasing distribution channels and rapid growth. Finding ways for a business to increase its market share or expand its revenue streams must come from a clear understanding of the business’s strengths and what these are worth on the open market.

1. Growing a Small Business:
Expansion Stage

2. MICHAEL ZETSER
Growing a Small Business:
Expansion Stage
The expansion stage in a small business’s lifecycle is usually
characterized by increasing distribution channels and rapid growth.
Finding ways for a business to increase its market share or expand
its revenue streams must come from a clear understanding of the
business’s strengths and what these are worth on the open market.

3. MICHAEL ZETSER
A business might decide
to expand to a new
location. Before doing so,
it should have updated its
marketing plan accord-
ingly and ensured that it
is financially prepared to
take this step.
New Locations
A business might decide to ex-
pand to a new location. Before
doing so, it should have updated
its marketing plan accordingly
and ensured that it is financially
prepared to take this step. The
business must also make sure that
it will be compliant with all the
laws, rules, and regulations that
will apply in the new location.
Franchising
Opportunities
Some businesses choose to ex-
pand by franchising. This can be
done by either buying an existing
business or franchise, or by the
business building its own fran-
chise. Businesses tend to be good
candidates for the latter option if
their product or service appeals
to other business owners and
is considered by the market as
superior, or if the business can be
easily duplicated in a new market.
Some businesses choose to expand by franchising. This can be
done by either buying an existing business or franchise, or by the
business building its own franchise.

4. FOR MORE INFORMATION ABOUT
SUCCESSFULLY GROWING A SMALL BUSINESS,
VISIT THE BLOG OF MICHAEL ZETSER.