I’m thinking of hiring a store manager and want to know your opinion on promoting from within or bringing someone new into the company.

I’ve done both and it is definitely an easier transition to promote from within if you have the right candidate. One of the problems you could face occurs when the employee you want to promote has spent time partying with staff. They may have a hard time earning their respect as a leader. It’s best to always try to groom an employee or two for future leadership. This way they will strive to climb to that position.