Branching out - creating a business for different audiences
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.