The concept became reality and you haven’t looked back. Steady sales increases are forcing you to consider expansion, as without it, you will never be able to maintain any level of service, and with a growing organisation, expansion must be carefully planned. At this point, you will have to plan what the expansion consists of, whether it be extra warehouse space, or perhaps an office relocation, and then you can work out a budget.
The Budget
As, with anything, expanding your business will not be cheap, and it should be considered an investment rather than a necessary thing, as the infrastructure you build will eventually support a large organisation. Expansion might be very costly, as it could involve the purchase of expensive machinery or equipment, and if you plan on hiring more staff, you must factor this into the equation. If your business happens to be based in London, Saracen Interiors can handle an office relocation or renovation, without interrupting the company’s day to day activities. Using a professional office fitout company means you will only have a single bill to pay, as they quote an all in price and oversee the entire operation.
Hiring Staff
Obviously, you would be looking for someone who is qualified accordingly, has some work experience, and is looking to forge an alliance with an up and coming outfit. The time and effort it takes to sift through the many applicants makes outsourcing the perfect solution. Contact a reputable recruitment agency, list all your requirements and they will go through their own channels and shortlist any potential candidates for you to interview at your leisure.
Increased Production
Business expansion occurs because of an increase in business transactions, and this means increased production. Whether you sell a product or provide a service, the whole system will have to be upgraded in order to deal with a higher volume of enquires, and hopefully, sales. More often than not, hiring new employees is a necessity, but with that already covered, consider the machinery/equipment/vehicles that you might need. The expansion might involve a large injection of capital, and if you are not able to invest that kind of capital at this time, make an appointment with your bank manager. If you need your office relocated to something larger, Saracen Interiors are based in London and can accommodate relocations and fitouts at an affordable price.
Capital Loan
It is unlikely a small business would have adequate capital to successfully complete the expansion. By definition, an expansion means more machinery, more workers, more vehicles, and perhaps even a new premises, but if you approach the right lender, borrowing for an expansion should not be a problem. Unlike a startup, an expansion has a history, and it is very clear after looking at the accounts, that the business is performing well and expanding. This situation is very favourable to the lender as there is a much reduced risk of folding.
Planning is everything with business growth, and with the right financial backing and some professional advice, the expansion should see the company develop into a sustainable organisation that is a market leader.