Good news, your business is doing great and needs to expand! Bad news, you need to expand because your business is doing great! That’s the mixed bag that comes with success, isn’t it? It’s nice to know that your business model is working well, and your customer base is growing. On the other hand, an expansion is a significant financial investment. It also means months of construction noise, inconvenience, bills and unexpected delays. Oh, and don’t forget about those times when your construction foreman walks into your office with news that your project needs more electrical work, or plumbing work, or foundation work. It’s a small fix, they’ll say, “but it’s gonna cost ya.”
It’s understandable that some companies may put off expansion for as long as possible, but that only delays the inevitable and hurts the business in the short term. If you need new equipment to land that big customer account, or if you have to expand your retail space to accommodate all those new customers you gained over the last year, then it’s best to start now and get it over with.