I have a small party equipment rental service business (opened Oct. 2015) that has grown 68% over the past year since opening a retail location and we are on track to clear $100k in sales before the last quarter of this year. We have added other services since opening and it has only helped grow the business even more. We are about to sign paperwork on our permanent (3-year lease) location that we can modify as needed and we are considering more options that will help increase sales. Our first permanent store will be the pilot that we build the next stores from, however, it is at the “dead end” of mall with an anchor store that has went under. The mall has already purchased and is considering adding the anchor store as an extension to the mall, which will put my store’s location at the forefront of the new stores and high traffic. This may take several months, if not a year to come into fruition. We are a one-of-a-kind business in the nation in a thriving market with new names coming into the game every week and we are ahead of the curve, so this isn't an opportunity I want to miss out on.
My question(s), to those more experienced, is this: at what rate should I be pushing to grow the business? Should I be pursuing investment to start another store in another city’s mall? Should I just wait and build on what I have while others hop into the game?
TL;DR Business is good, should I push for more funding to start locations or build on what I have in a growing market?
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