1. Open another location. This might not be your best choice for business expansion, but it's listed first here because that's what often comes to mind first for so many entrepreneurs considering expansion.
2. Offer your business as a franchise or business opportunity.Bette Fetter, founder and owner of Young Rembrandts , an Elgin, Illinois-based drawing program for children, waited 10 years to begin franchising her concept in 2001-but for Fetter and her husband, Bill, the timing was perfect.
3. License your product. This can be an effective, low-cost growth medium, particularly if you have a service product or branded product,
4. Form an alliance. Aligning yourself with a similar type of business can be a powerful way to expand quickly.
5. Diversify. Small-business consultant McGuckin offers several ideas for diversifying your product or service line:
- Sell complementary products or services
- Teach adult education or other types of classes
- Import or export yours or others' products
- Become a paid speaker or columnist
7. Win a government contract. "The best way for a small businessto grow is to have the federal government as a customer
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