this post was submitted on 10 Nov 2023
1 points (100.0% liked)
Entrepreneur
0 readers
1 users here now
Rules
- No Personal Attacks - criticism of ideas is allowed, attacking people is not.
- Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
- No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
- Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.
Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.
founded 10 months ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Theres a few ways you can looks at this. Depending on the business, first look for synergies between the two. If they are truly similar, a merger and rebranding to the more well know entity may be best and grow from there. Depending on your clients, you could target target those who move between the states. If its more of a local/mom&pop brand than it may be best to keep branding separate. You state that the one requires more focus, are you able to hire someone to run it for you? If not then franchising or becoming a silent partner (which allows you alot more time) seems the way to go. If the CO business has greater potential growth and a stronger brand and you believe the other will hinder your focus then get rid/franchise/sell equity to partially fund you acquisition. Always ask questions about why this business is being sold as well, is it at a point where growth has plateaued? And what are you going to change/bring to it? Managing a few states across is difficult without an open information path.