First and foremost, you need to conduct thorough market research to determine whether a specific market holds enough business potential for your company to be successful in. This is crucial as entering a market that seems promising for one industry, doesn’t necessarily mean that it will be beneficial for you as well.
Different countries have different cultures and the people living there have individual needs that might not be the same as the demands of your existing customer base. Make sure to ask yourself how much business potential a location really has, and don’t let the success of other businesses blind you.
Depending on your particular strategy, you might want to consider future potential, and not just look at estimated growth for one or two years to come. And you want to rely on hard facts, such as data about population growth, current trends, and income projections over the next few years.