There are many strategies that Linda handmade bag will focus on as following;
„« Open another location: before open another location we must make sure that we have a good profit and show the steady growth over the past few years. Looking at both economic and customer to indicate the company¡¦s staying power. And making sure that the administrative system and management team are working well.
„« Business opportunity: this strategy is to offer our business as a franchise; it is to expand our business to another ownership to be a part of our staff. We can be more successful and franchise is a perfect strategy to accomplish goals.
„« License the product: this is to minimizing the risk and is low cost in comparison to the price of starting our own business to produce and sell the brand or product.
„« Form an alliance: aligning our company with a similar type of business is the powerful way to expand our product. We need to align with other businesses that already have lists of prospective customers which are the fastest way to success.
Diversify: it is an excellent growth strategy as it allows having multiple steams of income that can increase sale and profit margin.
Target other markets: our market ranges from university student to lady adults, we have to think about where these people is spending most of their time on so we can introduce some business to university, club, supermarket and shopping center to do a market development.
Expand globally: when expanding to oversea countries we need a foreign distributor who will carry an inventory of the product and resell it in their domestic markets.
Expand to the internet: if we put our business into a search engine results is will key more than 80 percent as there are more than 4 billion web pages on the internet. The content, design and programming will draw a customer to visit our web site and get them to stay by putting together a content strategy based on the use of behavior and write the content based on researched keywords will get an excellent search results and meet the need of the customers.