Economy
6 Tips to Consider When Expanding Your Business
As a business owner, you may be considering expanding your current operation. When you do this, there are many factors to consider – including the location of where you expand and whether or not it will be a branch office or an entirely new company. In this blog post, we will discuss six tips for making sure that it is done to generate more revenue and improve efficiency when you expand your business.
1) Set a Goal
When you consider expanding your business, it is important to set a goal that will help guide the process. For example, if you want to expand because of increased demand in another region, this might indicate that opening up another office would be beneficial for your company. However, if there has not been an increase in demand, it might be best to only open up a warehouse for storage purposes rather than opening an office in 대구op.
If you are trying to expand because there is little competition, this may indicate that branching out into another region or country would help your business flourish. However, if there has already been ample expansion, it might not be worth taking the risk of opening up another branch.
2) Consider Warehouses for Sale
Another factor to consider is whether or not you should purchase a warehouse. When first expanding your business, it might be beneficial to rent out warehouse space until the company has grown and can afford its own warehouse space. For example, if you are looking for warehouse space in Texas, you might want to search for a warehouse for sale in Houston to get an idea of what type of spaces are available for you.
In addition, warehouse space can also be used for storage. For example, you may have a warehouse that is not being utilized in the day-to-day operations of your business, but it could still be rented out to another company that needs warehouse storage in Houston. When considering warehouse property for sale in Houston, it is important to do thorough research on what types of warehouses are available and their price range.
3) Consider the Location of Your Expansion
When expanding your business, you will also want to consider where this new branch or company should be located. This decision is important because it can significantly impact the success or failure of your venture. For example, if you are considering opening up a new office in another state, then make sure that there is enough demand in that area to support your company.
On the other hand, if you are expanding into a new country, then research that location’s cultural norms and business practices to ensure that your expansion will be successful. Failing to do this could lead to lost revenue and an unsuccessful venture.
4) Consider the Cost of Expansion
When you are expanding your business, it is important to consider the cost of this venture. This includes both the upfront costs and the ongoing costs associated with running a new branch or company. Make sure that you have a realistic idea of how much money you will need to spend to get your expansion off the ground.
In addition, you will also want to have a budget in place for the ongoing costs of running your new branch or company. This includes things like rent, payroll, and marketing expenses. In this case, having access to a digital wallet is crucial for monitoring your expenses in real-time electronically. Failing to do this could lead to financial instability down the road.
5) Consider the Number of Employees You Will Need
Another factor that needs to be taken into consideration when expanding is how many people you will need. If there isn’t enough work for another company or branch of your business, it might not be worth opening up a new location, warehouse space, Houston, or office. This decision can also impact how much money you are going to need to expand, so it is important to be realistic.
In addition, if the branch or company will require more than one person, then make sure that you know what types of people could work best for your business. For example, do you want college graduates who can help with marketing and the overall appearance of your company, or do you want individuals who will work more on a physical level? This decision is important because it can help determine how much money and resources you need to invest and where they should go.
6) Consider the Timeline for Your Expansion
When you are considering expanding your business, it is also important to know how soon you will open up a new branch or office space. This means that you need to have an idea of what this timeframe looks like and whether or not it fits into the overall plan for your company’s growth and success.
For example, suppose you are looking to expand your business internationally. In that case, it might be better to wait until the timing is right for that particular market rather than rush into things too soon. By doing this, you can avoid making mistakes and compromising the future of your company’s growth. When expanding a company, many factors need to be taken into consideration.
Bottomline
When you are looking to expand your business, it is important to consider all of these factors before moving forward with this decision. If not, you could end up making costly mistakes that can have a significant impact on your company’s future success or failure.
By Adedapo Adesanya
Five securities caused the NASD Over-the-Counter (OTC) Securities Exchange to experience a setback of 0.64 per cent on Monday, February 2.
During the first trading session of February 2026, FrieslandCampinaWamco Nigeria Plc shrank by N4.46 to end at N63.54 per unit versus the previous session’s N68.00 per unit, as Okitipupa Plc depreciated by N3.83 to close at N230.77 per share versus last Friday’s N234.60 per share.
Further, Central Securities Clearing System (CSCS) dropped 50 Kobo to sell at N40.00 per unit compared with the previous closing price of N40.50 per unit, UBN Property Plc dipped by 21 Kobo to N1.99 per share from N2.20 per share, and Acorn Petroleum Plc lost 3 Kobo to end at N1.35 per unit versus N1.38 per unit.
As a result, the market capitalisation went down by N13.98 billion to settle at N2.158 trillion, in contrast to the previous value of N2.171 trillion, and the NASD Unlisted Security Index (NSI) contracted by 23.35 points to settle at 3,606.76 points compared with last Friday’s closing value of 3,630.11 points.
Amid the loss, Geo-Fluids Plc managed to finish green after it chalked up 9 Kobo to sell at N6.84 per share versus the N5.75 per share it ended in the last trading day.
Yesterday, the volume of securities traded by investors surged by 1,238.5 per cent to 3.9 million units from 287,618 units, the value of securities increased by 1,075.2 per cent to N36.0 million from N3.1 million, and the number of deals soared by 90.5 per cent to 40 deals from 21 deals.
At the close of trades, CSCS Plc remained the most traded stock by value (year-to-date) with 15.4 million units valued at N623.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 1.7 million units worth N110.2 million, and Geo-Fluids Plc with 10.6 million units sold for N69.9 million.
CSCS Plc was also the most active stock by volume (year-to-date) with 15.4 million units traded for N623.9 million, trailed by Geo-Fluids Plc with 10.6 million units worth N69.9 million, and Mass Telecom Innovation Plc with 10.1 million units transacted for N4.1 million.
By Adedapo Adesanya
The value of the Naira dropped against the United States Dollar in the the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, February 2 by N3.81 or 0.27 per cent to N1,390.36/$1 from the N1,386.55/$1 it traded last Friday.
This was driven by stronger demand for forex at the official market, which outweighed to what was available to meet customers’ needs. But the local currency remained within the expected trading range.
In the same market window, the domestic currency further appreciated against the Pound Sterling during the session by N6.72 to close at N1,899.51/£1 compared with the preceding session’s rate of N1,906.23/£1 and improved against the Euro by N7.70 to trade at N1,644.52/€1 versus the previous trading day’s value of N1,652.22/€1.
In the parallel market, the exchange rate of the Nigerian Naira to its American counterpart remained unchanged yesterday at N1,465/$1 and at the GTBank FX counter, it also maintained stability at N1,419/$1.
The Naira is expected to remain relatively stable in the coming days, boosted by stronger FX liquidity, enhanced price discovery, and a gradual restoration of offshore investor confidence while Nigeria’s external reserves, which provide the Central Bank of Nigeria (CBN) with the capacity to defend the Naira and stabilise the foreign exchange market, have continued to grow steadily.
Updated data showed that Nigeria’s gross external reserves printed at $46.18 billion as of January 29, 2026, reflecting an addition of $62.40 million.
As for the cryptocurrency market, it was bullish after a sharp weekend sell-off while a resurgent US Dollar index, which has logged its strongest two-day gain in nine months, threatened to keep gains in check.
Expectations that US Federal Reserve chair nominee, Mr Kevin Warsh, will be cautious on interest-rate cuts, along with upcoming US jobs data, are seen as potential drivers of further Dollar strength.
The biggest gainer for the session was Cardano (ADA), which rose by 6.2 per cent to trade at $0.2976, Ethereum (ETH) appreciated by 5.5 per cent to $2,319.80, Dogecoin (DOGE) grew by 5.3 per cent to $0.1066, Binance Coin (BNB) gained 4.8 per cent to sell for $776.00, and Solana (SOL) added 4.6 per cent to sell at $103.75.
In addition, Litecoin (LTC) improved by 4.5 per cent to trade at $59.95, Bitcoin (BTC) appreciated by 3.6 per cent to $78,445.62, and Ripple (XRP) expanded by 3.4 per cent to $1.60, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited managed to finish in the green territory on Monday after it marginally closed higher by 0.01 per cent.
The last minute escape from the bears was triggered by the gains posted by large-cap equities like Zenith Bank, Aradel Holdings and others, offsetting the losses recorded by GTCO, Oando, First Holdco and others.
According to data obtained by Business Post, only 29 stocks ended on the gainers’ chart, while 44 equities landed on the losers’ table, indicating a negative market breadth index and weak investor sentiment.
Universal Insurance rose by 10.00 per cent to sell for N1.32, Premier Paints appreciated by 10.00 per cent to N11.00, DAAR Communications improved by 9.93 per cent to N1.55, RT Briscoe increased by 9.92 per cent to N8.64, and Morison Industries advanced by 9.91 per cent to N10.98.
On the flip side, Omatek declined by 10.00 per cent to N2.70, Union Homes REIT declined by 9.96 per cent to N85.40, AXA Mansard shrank by 9.94 per cent to N14.31, Deap Capital decreased by 9.90 per cent to N8.46, and C&I Leasing moderated by 9.80 per cent to N6.90.
On the first trading session of this week, market participants bought and sold 762.8 million shares valued at N18.4 billion in 55,374 deals compared with the 687.4 million shares worth N15.0 billion traded in 41,553 deals last Friday, a spike in the trading volume, value, and number of deals by 10.97 per cent, 22.67 per cent, and 33.26 per cent, respectively.
Tantalizers ended the day as the most active stock with 88.5 million units sold for N329.4 million, Zenith Bank traded 40.2 million units worth N2.9 billion, Veritas Kapital transacted 39.2 million units valued at N92.1 million, Universal Insurance exchanged 29.3 million units for N38.1 million, and First Holdco transacted 27.6 million units worth N1.1 billion.
The sectorial performance yesterday showed that the mood of investors was in the sell region despite the slight growth recorded by Customs Street, as only the energy index closed in green, rising by 2.00 per cent.
The insurance counter was down by 1.99 per cent, the banking industry depleted by 0.64 per cent, the consumer goods shrank by 0.37 per cent, and the industrial goods retreated by 0.08 per cent.
When the first trading day of February 2026 ended on Monday, the All-Share Index (ASI) went up by 14.23 points to 165,384.63 points from 165,370.40 points, while the market capitalization chalked up N9 billion to finish at N106.162 trillion compared with the previous session’s N106.153 trillion.
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