Where do you see your business in 5 years? 🔮

[isabelle]

Hey Seller Community ✨

I’m back with another question of the week!

Where do you see your business in 5 years? Would you like to have more locations? Launch/add new products? Maybe a larger social media following? Re-branding?

Looking forward to your replies ✨ 🔮

[MJD]

Hoping to grow my social media followings and build a larger store, upgrade my business a lot including new cameras for better photos, for better products, and all round better customer experience and value. It’s going to be a journey but it’s one I can’t wait to take!

[jrowles4]

Where do you see your business in 5 years? I see it running itself smoothly.

Would you like to have more locations? Maybe one more.

Launch/add new products? Absolutely!

Maybe a larger social media following? Depends on what social media morphs into during that time frame.

Re-branding?  Improved branding recognition to work towards becoming an iconic brand.

[hellomarketing]

In 5 years, I would like to see my business grow big enough to bring on other people. At that point, I'd love to expand my services to offer more professional marketing services for small businesses too. 😊

Ps. I see my username is misspelled, rest in peace

[isabelle]

Thanks for sharing @hellomarketing! Those are awesome future goals and ideals. 

If you send me a private message, we can adjust your username for you 😊

[alexandriak]

In 5 years I see my business having a great bottom line with increased sales. Prior to COVID we were getting there and now I have to play a little catch up with getting my margins back to where they were. I see my business having a more engaged online audience from the work I'm starting today.

[DavesAuto]

We are looking forward to continuing on the growth path we have had for the last 4 years. We hope by the end of the year to expand our shop space. In five years we hope to have a couple more employees and focus more on managing the business rather than working in the business. 

[TinyPlanet]

I see it sold or closed, I plan on retiring in 5 years 🙂

[isabelle]

Congrats @TinyPlanet! ✨🌎 

[VanKalkerFarms]

We try and set 2 year, 5 year, and 10 year+ plans.  currently we have goal on raising gross sales and raising profit percentage and adding buildings.

2 years from now 20% growth in overall revenue and 3% additional growth in profit percentage.  adding an additional 20,000 ft ² of growing space.  Add one more semi truck for hauling purchases and for deliveries.  Add a full time staff member to take on some of the actual growing of our product.

5 years from now 40% growth in overall revenue and 2% additional growth in profit percentage.  adding an additional 40,000 ft ² of growing space and an additional 10,000 ft ² of warehouse space.

10 years from now 70% growth in overall revenue and 4% additional growth in profit percentage (goal of 30% in 10 years, currently 21%).  adding an additional 70,000 ft ² of growing space and an additional 20,000 ft ² of warehouse space.

raising prices to raise profit margin.  more automation not to replace workers but to take them off repetitive tasks and onto higher profit tasks.  

adding new clients and expanding our offerings to raise gross sales

buying more property so we can add the growing space to meet the needs of the other goals.  without more space being added yearly the only other way to increase gross is to raise prices.

oh did I mention Raise prices.  don't fight for lowest common denominator but make your price worth it with service and quality product.

[Helen]

Thank you for sharing this @VanKalkerFarms! I particularly like your final point 'don't fight for lowest common denominator but make your price worth it with service and quality product.' Thanks again! 

[RG6]

I will continue grow our business and add new products that benefit consumers health and wellness. we are committed to helping people live a comfortable life even as we age.

Starting a business is not easy, you must be committed to working hard  and smart. If you get knocked down get up and keep trying.  the harder you work the luckier you get.

[Vrichhair__]

I see my business in a better position my kid will be in college and learning to live life ..

I will be able to focus on the business at least 80%  I work in the salon but I have a full product line I haven't been able to put 100% in the part of the business .... 

[isabelle]

Thank you for sharing @Vrichhair__ 💇‍Sounds like you'll be able to dedicate more time to your salon in the future and see more growth! 🔮

[jmichael]

We've doubled our sales year-over-year for the past three years. We expect a continued trend-increase for the next five years. 

We even came out ahead in 2021 with the double-growth. We have not added additional items, but this year we plan to add a new line. 

There's a lot of resources out there for startups, which is great. Less so, at least in our experience, for managing & automating success. We still use multiple disconnected systems to manage our team and customers. We look forward to what Square may be developing, since most external systems are not comprehensive and have prohibitive fees.

[Natural-37]

I need to have more traffic, daily sales, and support from square marketing. If a business doesn't have daily sales, help is needed to move forward. Thank you, God bless and stay safe!

[teambryant21]

Hi there, my brother and I are teenagers that just opened up a clothing line/company. Our company has three major parts such as: Printing, Manufacturing, and Custom T-Shirts. We are asking for advice on how to improve in our business and how to grow our platform over the next few years. Thank you. Please shop at our online store, just click the link and it will send you to our store. Once again Thank you.

https://team-bryant-clothing-line.square.site/ 

[ber]

For the past five years our business (#bhpltdohio) success centered on active participation in many Art, Craft, and Vintage Market events mostly in Ohio, Michigan, and Indiana.  Also, our online business proved to be unfortunately dependent upon our event participation in CY2020, the year that we would all like to forget.  It was a case of "out of sight, out of mind".

Here are our future considerations:

• Plan to be more selective and focus on fewer but larger events
• Expand to a few larger events within 500 miles of Northwest Ohio
• Consider alliances that would expand our business to other states
• Take the time to learn more about social media marketing and put that knowledge to work for us
• Develop a plan to sell our business at the right time, likely beyond five years from now

Brian

[geekster]

Well, we at Geeks-ter are looking forward to opening up a new location in 2022 are sales have been doing very well after the re-branding back in September, so in the next 5 years maybe 3 locations. 😁

[dawnwar67]

Growing into a community place for everyone can enjoy time together shopping, having a snack, watching a big screen projector with Sec football during football season , ( while the other half was around the main Store, "Paul's Store ", and the many other added vendors shops)

Giving God the Glory

Michelle Warden  "Paul's Store "

[BBQDuchess]

I own an Indie and I want this location to be the best it can be. I don’t know if I’m interested in another location, but I’m interested in improving this one the best I can. We recently implemented Square using Square Register/Restaurants and I couldn’t be more satisfied with the implementation and go live. Square will help take me into the next 5 years by making our social media, efficiency, productivity, marketing, everything operate to the optimum level. I know that Square gets more robust all the time and it will take our great restaurant into the stratosphere!

[smiger]

Well I have big future plans. Lets see if it pans out :0

My company Seasons Semi-Precious began right at the start of the Covid pandemic !!!! rough start right !!!!!

Right now I'm a small company run by just little Ol' me and I also have a full time job, it's a little rough to get things up and running, but steadily moving along. Being that we are mostly an online retailer during the cooler months and an outside retailer half the year ( we are located in New Jersey ) selling takes a lot of extra effort.

My plan in the next 5 years ??

Don't think I will be prepared for brick and mortar stores, but during the warmer months I would like to have a small fleet of trucks ( rentals of course ) along with a handful of employees, going to different markets, shows and festivals. During the cooler months ( and rest of the year also ) I would like to include home shows in the vein of Avon and Scentsy. 

We shall seeeeeeeeeeeeeeeee !! 

Peace Love and Namaste'