Expansion of stores or physical locations is a great way for businesses to increase the services that they offer and cater to customer needs. However, whilst the expansion may have taken over during the time that you have been expanding your premises, there will come a time when you will need to get back to normal. Returning to the regular daily running of your shop can be difficult, and these tips will help you to do this as soon as possible.
- Clear up
While building noises can be disruptive to customers, building clutter and leftover materials can be a deterrent to potential customers, especially if this detracts from their overall experience. Not only this, but clutter could create health and safety hazards and leave you without ample storage space. Therefore, you should start to clear up after building work almost immediately.
If you are struggling to do this, then you should look at hiring a disposal firm who can help you to get rid of any excess waste. Solvents can be a difficult issue for businesses that have recently undergone expansion; however, employing trusted solvent disposal firms can help you with your waste disposal issues by providing you with and collect appropriate drums and tanks, reducing the possible toxicity to you and your employees.
- Manage Cash Flow
One major problem after the expansion of your business is that many businesses struggle to increase their cash flow in the first couple of months, especially when set against the potential loss that they are making against debts and other issues with expansion. You should always then ensure that you are monitoring your cash flow, by ensuring that you cut down on expenditure, have good deals on your products, and by ensuring that you request early payment from any outstanding clientele. This will ensure that you have enough cash flow to support yourself during the first months of your expansion.
- Consider Operating Costs
Many businesses do not take into account that their operating costs will also be much higher after they have decided to expand, and this can change your business model. If you simply measure your turnover, this does not take into account your rising operating costs, and this can make it seem as if you are making more money than you truly are. Therefore, it should be your margins that you take into account to ensure that your business is making enough money to survive, rather than your gross revenue, as this will take into consideration operating costs as well.
- Deal with Staffing Issues
You will need staff to deal with this expansion, and under-staffing can lead to customers not being satisfied with the service that you are providing and choosing not to return. Then, you should ensure that you employ the right amount of people to run your business, and you should employ more staff than you need to prepare for some people leaving or not taking the job up. You should also ensure that these staff are fully trained to ensure that your business is run efficiently and so that staff morale is high.
