Expanding in U.S.a Essay

Submitted By jamieanderson68
Words: 497
Pages: 2

JAMIE M. ANDERSON
COLORADO TECHNICAL UNIVERSITY
PROFESSOR KENNETH JEFFERSON MOORE
JULY 9, 2013

Introduction As the CFO and myself go over information about our business we’ve talked of expanding our business and the aspect of the expansion. We’ve looked at other companies and the options and adversities of expanding. We understand that bringing a soul food restaurant into a suburban neighborhood would fail if there were no market for it. We also understand that we have to know our customers in order to be successful no matter where we are. “Once you've assessed the current strengths, weaknesses, opportunities and threats to your business and how well it's equipped to handle them, you can move on to the next stage - building a strategy for growth.” (Answers Corporation, 2013) We understand that we need to plan carefully in order to be successful in our expansion and use SWOT ideology. We’ve also considered our geography that is our location and mainly were most of our customers is from. We also considered our market and the potential of changing the product line of our expansion to expand. We’ve made talk of preparations for failure if our considerations for expansion does not succeed. We are financially prepared to purchase the equipment we need to get started. More of the things we considered are: 1. Equipment 2. Lease of New Property 3. Bills such as Electric, Water etc.… 4. Hiring of New Employees 5. Benefits 6. Licensing of equipment and property 7. The possibility of not succeeding the expansion and the effects 8. Possibility of Bank Loans 9. Geography 10. Marketing These are just a few of the things we’ve gone over in order to discuss the possibilities of our new venture. We’ve compared ourselves to Apples success and Coca Cola almost failure with their new flavors. Apple was discovered in the garage of Steve Jobs who in the beginning corner only one type of market that…