An Organized Approach to Expand
Your Business More Quickly
With intensely narrow margins, successful store owners are growing bottom line profitability through expansion. Whether acquiring another existing business or building one from the ground up, now’s the time to consider adding another location to your portfolio.
Fortunately, what has been a grueling one- to two-year project can now be completed within six to eight months, allowing owners to remain agile. Based on industry best practices, here’s how WEnd Consulting Services guides its clients through the process efficiently:
Phase 1: Discovery
During this phase, WEnd Consulting Services works with business owners to fully understand their current portfolio and success matrix. They outline the business’s current operational strategies, financial strength, and unique business proposition. This phase includes visits to competitors to understand the full marketplace and uncover hidden opportunities.
Phase 2: Selection
During this phase, it’s critical to go further than simply considering location, potential clients, and marketability. According to Joseph Kratochvil, Chief Executive Officer of WEnd Consulting Services, “We make sure clients consider the full range of business implications for each site.” With full knowledge in hand, the client selects the best option.
Phase 3: Final Decision
Negotiations can be tedious and confusing. Discussions go beyond the purchase and/or lease price of the location to include the option deposit, determination of items in the sales/lease agreement that will be subject prior to the close, and agreement of the closing date.
Phase 4: Execution
This phase represents all of the administrative and legal legwork that must be completed prior to groundbreaking. Kratochvil provided his insight about this stage:
“Our team really focuses on getting clients through the work as efficiently as possible and often trim timelines down by several months to even a full year.”
Clients are most successful moving through this phase efficiently with well-built checklists and established methodology to lean on.
Stage 1: Execution of the Sales/Lease Agreement. Here, the client addresses specific requirements within the agreement including permitting, topography reports, availability of utilities, entrance access, deed restrictions and the property survey.
Stage 2: Requirements Prior to Close. This work includes approving a site analysis, finalizing the pro forma, obtaining complete construction estimates for prep and build, determining engineering requirements and costs, and obtaining any necessary financing.
Phase 5: Groundbreaking
This is the exciting phase where all the owner’s hard work begins to take shape. Whether the site is a brand-new build or a renovation, construction crews transform the property to an extension of the owner’s branded business.
About WEnd Consulting Services
WEnd Consulting Services contributes professional expertise to help business owners and leaders in
the petroleum and refueling industry grow their businesses and achieve success. We believe all companies, no matter the size, can compete and deliver excellence to their customers, and our team is committed to helping them along the way.
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