What are some possible local territories to which a company that sells leather coats and belts can expand its operations?
You are working in a company that manufactures leather coats and belts, which it sells locally. The company is making reasonable profits. The senior management of the company believes that the local market will soon be saturated and wants to find new avenues for expansion locally within a year and internationally within a five-year period.
Let us assume that you are currently selling your coats and belts in your own storefront that sells only your products. In that case, some local territories into which to expand could include:
- Other local specialty clothing stores. You can try to get local clothes stores to carry your products, thus making them available to a larger population.
- Internet sales in the local area. By putting your products online, you can make it much easier for potential new customers to get a good look at them. You can then mail the goods or allow customers to come pick them up.
- Local branches of national stores. This might be harder to accomplish, but you might be able to get such chains to sell your line of products as a special local product.