Deciding to Expand: Key Considerations

Expanding a business requires careful consideration of various factors, particularly financial stability and workforce management. Before opening a second location, it's essential to assess the profitability and cash flow of the existing clinic to ensure it can support the expansion. Challenges such as unexpected construction delays can impact the financial projections, necessitating contingency planning. Conducting thorough market research to identify the competitive landscape and evaluate demographic factors is vital, as it informs whether the new location is viable for growth.