I have been operating a locksmith business for over 20 years now and I learned the best ways to expand your business, and learned to time it at the right moment. Believe it or not a lot of people do not know how to time properly when they should be expanding their business, and when it is best to lay low and wait for variables such as the economy to settle down. If you have everything set up properly you can go ahead and target and expand into different areas, which are what I did with my RD Vaughan Locksmith business after a few years of working with it. I had to make sure that the time was perfect and that I had a whole battle plan ready for me to execute without hesitation.
Make sure your team is also ready for this change, it is one thing when the business owner is ready to move forward, but if no one else is ready to handle more work and more pressure. It is always best to do these things with the company as a whole and treat the company as a whole and that they actually own a part of it. They dont have to of course own the company in order to say, but since they are most likely the largest percent of your company itself it is best to involve them as much as possible when it comes to making decisions.
What I did with my RD Locksmith Toronto company was I had this planned for about 3 months before I made any moves, and once I was ready I told my entire company which they already had in their minds. Then I hired more people to make sure that I can keep up with the demands. Once I did that I was ready to actually expand my locksmith company.