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I own 4 counties in North Caroilina with a total population of 60,000. I an considering expanding to a neighboring county with 250,000 people. I was wondering about the best way to open that new area:
1. Advertise first and build a large client base then buy the area
2. Buy the area then work to build clients
3. Work by word of mouth to build the client base then buy the area
Any ideas you have would be greatly appreciated.
Thanks,
Jamie
Jamie,
Number one has a lot of risk. If there are 250,000 people near you, someone could always come along and buy the area after you have worked to develop it. I wouldn’t spend time, effort, and money on an area without knowing it is mine.Mike
Jamie:
I have acquired several areas since I started our business 10 years ago; now in two states. I would like to offer the following recommendation. First, I would not recommend farming, advertising, promoting, networking or working an area you don’t own. As an operator, you would also be working outside your contract and I would not want to go that route.
If this area is close to you and has potential, go for it! As an operator it is much easier to purchase/acquire additional territories. Then you can focus on networking, flyers, shows, etc. You are in control of your schedule so you can set aside 1 or 2 days a week to work this area. This will allow you to possibly use the same manpower without interfering with your current business.
I continue to operate our CA office from UT and have been doing this for 1.5yrs now and can share good & bad experiences during this transition. Call me or email if you have specific questions.
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