Redefining Expansion: Multistate Growth Powered by Penstock

Overview

Our client was eager to expand beyond its existing state boundary, yet faced challenges with high employee turnover, difficulty in finding the right talent and a need for effective market analysis for their strategic growth plans.

They sought a partner capable of not only handling the entire filing process but also providing strategic guidance to fuel their expansion into new markets. They needed a reliable, experienced ally to navigate the complexities created by multistate operations.

Specific Challenges

• High rate of employee turnover and difficulty insourcing the right talent
• Needed comprehensive market analysis to identify potential expansion states
• Balancing managing regulatory filing while planning for market expansion
• Lacking strategic guidance to make informed expansion decisions

Solution

Penstock provided a fully outsourced solution, handling everything from regulatory filing to strategic planning. By leveraging our proprietary ClearFile SaaS platform for filing and delivering comprehensive SWOT and market share analyses services, we provided our client with the data-driven insights they needed for expansion.

Client Success

Through our deep-dive analyses, we highlighted potential growth areas and risks, laying a solid foundation for ambitious expansion plans. As a result of our partnership, our client successfully expanded into a new state, with plans to expand into an additional state every year. We’ve streamlined their processes, mitigated their employee turnover challenges and provided the strategic insights they need for sustained growth.

Looking Forward

With Penstock’s continued support, our client is poised to accelerate its expansion while we continue to evaluate their footprint, recommend member incentives and develop value-based programs. Our goal is to ensure their ongoing growth and success in new markets.