Businesses That Have Scaled Successfully
In this day and age, starting a business can be a competitive venture to take up. There are so many businesses presently trying to climb the ladder to success and doing all that it takes to get there. It is, therefore, imperative that if you intend on joining the race, you put your best foot forward. One of the keys to business success is learning from those who have successfully achieved what you’re setting out to accomplish. Not every business shares the ins and outs of their journey, but there are key indicators that give you an idea of how they attained greater heights. On that note, this article is going to explore a few businesses that have been able to scale successfully.
Lululemon Athletica is a yoga-inspired athletic company. With humble beginnings in Vancouver, Canada in 1998, it began on a philosophy of practicing mindfulness with a focus on healthy living and a passion for finding new possibilities. With an emphasis on stylish, high-quality design, what began as a yoga studio by night and design studio by day has since expanded into a multi-billion dollar company, with an international presence. Its flagship Europe store opened in London in 2014, and with a range of clothing, accessories, and products focusing, but not limited to, the ever-popular yoga, it looks to carry on its success for many years to come.
In addition, another business that has been able to scale successfully is Chuze Fitness. If you’ve never heard of them before, they’re a fitness organization that has a chain of gyms in different cities. Chuze Fitness started with one location and is now a chain of 25 gyms in CA, AZ and CO. This can be considered as exponential growth and is what most businesses aspire to. Their success could be a result of the affordable membership fees, picking the right locations, as well as the range of other service offerings that they have. You should also find that the standard and quality of services is likely the same across every branch.
Another example of a business that managed to scale successfully is Virgin. The idea for the airline was birthed when Richard Branson was on the way to the Virgin Islands and found his flight had been cancelled. After deciding to charter a private plane and charge passengers who were also on the same cancelled flight $29 for seats, the idea of Virgin Atlantic was born. The Virgin group now boasts of more than 200 companies which cut across a range of different industries proving that with innovation, persistence and a strong brand, you can successfully expand your business.
Beyond the list above, if you do your research, you will find that there are numerous businesses that have scaled successfully over the past few decades. Each business has its own unique story to tell in terms of how they got there and the challenges they encountered along the way. However, there are definitely hidden lessons that every business can learn from, especially those aspiring to scale successfully.