July '18

For the Business of Apparel Decorating

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2 0 1 8 J U LY P R I N T W E A R || 15 customers find the new shop easier to get to, or will the move predictably result in some lost business? Do the new locations make you more or less accessible to your vendor's and shipping carrier's trucks? Be sure to record the rent prices, length of leases, and any differences in utility or tax rates for each option. • Many businesses overlook the great opportunities that are gained from moving into a bigger location or into tailor-made prem- ises. Continuing to work with a commercial real-estate agent, do the same thing for a larger unit—typically 25 to 35 percent more square footage—or entertain the notion of buying an undeveloped parcel of properly-zoned land and building your own place. What would improve on your current operations in a larger facility? You cannot get too detailed when it comes to specifications for a new location. Remember, you probably aren't going to or want to move again any time soon. MARKET THOUGHTS Market intelligence should play a key part in your decision to ex- pand the business. There are important clues about the market, and some indication about what your competition is doing, that is easily obtainable by a clever, internet-savvy sleuth. If your compe- tition is expanding their operations, it is likely they see untapped opportunities in the market. Do your homework and don't just duplicate what others are doing. Stick to what your company does best and, instead, widen the value gap between you and your com- petitors. Whatever you decide to do, try to finance the expansion with com- pany assets instead of borrowing capital from a lending institution or your investors. Many modestly successful small businesses met untimely demises with overly aggressive, underdeveloped growth strategies that required significant seed money. Good luck! 800-826-6332 Find out how producing photo quality gifts & awards can help your business be more profitable... call Condé today! Why shop Condé Systems? Condé offers everything you need to get into the personalized photo gift business including: • Dye-Sub Transfer Systems • Dye-Sub Ink, Paper & Supplies • Heat Transfer Systems • Laser & Ink Jet Transfer Papers • Heat Presses • Blank Imprintable Products • Production Software • Educational Videos • Legendary Technical Support

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