When your business is going well and making lots of money, it's natural to think of expanding to a second location. After carefully considering how a second location would affect the overall business, researching the market for the best location and analyzing your competition it's time to move forward with this exciting new expansion.

What's Involved With a Second Location?

Just as with the first location, there are many expenses involved in opening a second location. More staff need to be hired, including hard-working and trustworthy management to run things when you are not at one of the locations. More inventory must be ordered. Renting or purchasing a second building or storefront is another necessity. Equipment, display racks, and everything you needed at your first store will need to be duplicated for the second location.

According to business consultant Mark Loos, your second location is more than just an expansion of the first store. "You really have to look at the second location as a first location," says Loos. "It's got to be able to stand on its own." Any subsequent location may have different insurance requirements, zoning, and other aspects that make it substantially different from the primary location. Loos recommends writing a separate business plan for the second location, with separate books as well.

Even if your first location is successful, you may not have the cash flow to cover all the costs of opening a second location. Business cash advances are a way to get a lump sum of cash up front to cover opening expenses, and then repay the advance a little bit each day from your credit card sales.

Do I Qualify for a Business Cash Advance?

If you have been in business for at least 2 years, have adequate sales, and accept credit card payments, you may qualify for a business cash advance to help expand your business. Cash advances do involve a fee, but using them to expand your business will leave you in a better position once the advance is repaid, which makes them advantageous.

Because advances are not loans, there are no credit checks or stipulations on how the money can be spent. And you can get a business cash advance fast: sometimes in as little as 48 to 72 hours. Within about a week's time, you can have the cash you need to move forward.

Don't like being in debt? That's understandable, but cash advances are repaid quickly, usually in 3 to 12 months, so you won't be in debt for years or even decades the way you might be with a bank loan. And no collateral is required, so you don't put your property or your business at risk.

Quikstone Capital Solutions offers business cash advances to business owners who want to expand and open a second location.