There are two ways in which any business can grow:
- Organic or internal growth.
- Inorganic or external growth.
Organice growth tends to be slow and steady, as with John Lewis or Waitrose shops. Franchising is also a form of organice growth. Inorganic growth can reslut in a business almost doubling in size overnight, as with the Lloyds TSB takeover of HBOS bank.
This can be achieved in a number of ways:
- Open a branch, office or factory in another location.
- Offer franchises to other businesses.
- Expand through interenet selling.
Opening new branches
there are a number of benefits or expanding a business by opening new branches:
- Slow and steady- organice growth is less risky than taking over or merging with…