Branching out - creating a business for different audiences

Fri 29th June 2018
Hints & Tips

HOW TO CREATE A BUSINESS FOR TWO DIFFERENT AUDIENCES

Define the exact reasons why you want a second site that’s different from your first: whether you want to target a different audience, split your menu or have an events space, know what you want in each location.

Don’t spend money on a fit-out before you’ve earned it: there’s a risk that what you think you’ll make in the new site won’t be as much as you hoped, so don’t overspend.

Build a support network: having quality, reliable support for
your business – from specialist accountants to financial advisers – will help you make better business decisions.

To offset additional staff costs, maximise your employees’ skills: give them a second role for quieter periods, such as managing social media or events.

Consider a cloud- based POS: if your till and inventory system is online, you don’t have to be on site to check in. 

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