I'm looking to expand my retail store into a different state. I've just begun thinking about all the different elements I need to compare and contrast to see if its a good idea or not. I need to look at level of competition, prices for rent and taxes in the state. Anything I'm missing?
2007-01-22 15:16:12 · 2 answers · asked by ashlee85 1 in Business & Finance ➔ Small Business
If you are planning on purchasing property instead of leasing then check on the likelihood that the property will appreciate in case the expansion doesn't pan out. Is there a reason you don't want to expand in your own state? It seems that this would be a much easier move. You could possibly use the same accountant for both stores, the state paperwork would be the same, etc.
2007-01-22 17:23:48 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It's really dependent on the products. Some merchandise has "regional attractiveness". What may sell well in the Northeast may not sell well in the South ... what sells well on the west coast may not do so well on the east coast. You'll also want to be looking at your location - after all, that's one of the most important aspects of retail business - you want to be sure that the surrounding area and businesses will bring in the traffic !!
Good luck !!!
2007-01-22 23:23:38 · answer #2 · answered by Bill P 5 · 0⤊ 0⤋