Are you considering relocating your business? Perhaps you’ve already made the decision you just need to get everything in motion. You aren’t alone. Many small business owners come to the point when face the dilemma of deciding how much office space they need. A relocation could be to move to a new location, or to restructure or expand your existing space. But whatever the reasons, it’s crucial that you consider the process carefully.
Research the market
There is little point in moving your business if there is no demand for what you do in the area that you’re moving to. This is something that a lot of businesses fail to understand, and this can ultimately be their downfall. Spend some time researching, to make sure that there is a definite gap in the market for you to slot into once you arrive.
How much space do you need?
Whatever your reasons for relocating, you’ll need to think about how much space you require in your new premises. Make sure you think about potentially expanding in the future too. Don’t try to squeeze into a new building that does not allow room for expansion down the road. You never know when your business will grow, and having room for additional employees and equipment is always a big bonus.
Plan your removal
During the time you have spent in your current building, you will have likely amassed lots of things – and all of these will need to be taken to your new place of work. Don’t underestimate what you have, as there may be more than you think. If you think you can fit everything in cars, then you should plan who is taking what, so that it works smoothly on the day. If you need to hire a van then double check the time and date that it is available, and ensure that everything will fit into the van you’ve hired.
Employees’ relocation packages
You’ll probably want to transfer some, if not all of your employees to the new location. Although there is no obligation for an employer to offer any form of financial compensation for moving, many companies nevertheless provide relocation packages to help smooth the way. The more generous relocation packages may also include the provision of bridging loans or mortgage subsidies to help finance the cost of a new home.
Inform your old clients
If you are moving, it is vital that you tell any clients who may have attended your office for meetings in the past. While you may be able to carry out work for them from where you’re moving to, they may not be happy to travel the extra distance – and knowing this is key, as you need to be sure of exactly how many clients you’re going to retain.
A business move can be a great choice for many reasons, but only if it is managed properly. By taking these tips into account, you can be sure that you have the best possible chance of success in your new location.