Fri 15th Jun 2012, 17:02
I want to expand the business, where do I start?
Okay, so I asked a question on here a few days ago and I also asked on a different site. People told me that restaurant management is difficult and so much different than the grocery industry. People asked, "Why not stick to what you know?" since my father knows the ins-and-out of running a grocery I am lucky to get that advice. It's highly unlikely I'd get the restaurant anyways because of my cousins. Anyways, for those who haven't read, I'll tell a bit about my parents' grocery store.
My parents' business is a Thai grocery store that has been in business for 30 years. My father owns the building which is a small strip mall which includes a restaurant that is now owned by my uncle. The restaurant is locally famous and a favorite which also helps bring in many more customers to our grocery. Our grocery originally catered to southeast Asians but has expanded to Jamaican, African, and Hispanic products due to the growing immigrants of those ethnic groups in our area. Our store also provides wholesale for restaurant owners. We have a growing number of Asian market competitors but we still do good (but not as great as years ago because we had no competitors).
What I want to do
I want to expand my father's business and take it to the next level. My dad doesn't want to expand and take it further because he's COMFORTABLE with where he is at. Luckily, my dad is retiring once I graduate college and will hand the business over to me if I want it. I have ideas that come to my mind but I have no idea where to start! Also, I'm scared that I will fail and that maybe this isn't such a good idea. There's so many worries such as location and buildings. It can be expensive! Demographics is another thing to think about.
Since our shop is just a "mom and pop" shop that is nothing visually to be fancy about, I want to update the look. An international market I found called junglejims.com located 2 hours away from us is doing great and is similar to my parent's grocery except on a much larger scale. It includes European, East/Southeast Asian, South American, African, and Indian food...not to mention a post office, restaurants, and dentist (which is odd)...it's like a big mall! I really like their concept but I want to focus on smaller areas and not too broad..and not include things like a dentist or post office. But how do you get the money to make such a big place?
Someone please tell me how to start? Do I start with a new business plan?
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