Yet his wife believes there is still more money to be made locally.
"We know our clients love us already. I know the demand is there. National is not the way to go," Emily Elias said. Chris and Emily Elias, who own a mobile dog grooming company in Massapequa, New York, have been debating about how to expand their business.It's not uncommon for partners to disagree on the next step for their business, or even whether they should expand, said small business expert Barry Moltz, who used to own his own businesses and is now a consultant.That means don't invest more money than you can afford to lose, especially when testing out new concepts, Moltz explained.
Before you decide to expand, make sure you have some extra profit or cash to reinvest into the business. The Eliases, for instance, have $100,000 to put into their expansion. It's also important to figure out your "why." It could be a larger profit, a way to diversify or to get bigger in order to sell the business, for example, said Moltz, who has worked with married partners who have disagreed over expansion plans.
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