Does your location still suit your business? Many business owners reach a time when they consider whether their business is in the right location. Perhaps you began as a small, home-based business, and now you need more physical space. Or did you originally think foot traffic would be the core of your business, when it’s actually more successful online? Whatever the reason, a new location might be the right move for your business. Here are some clues that perhaps you should start considering a business relocation.
1. You Want to Hire More Staff
This can often be the most common factor for relocating. If your existing location is already bursting at the seams then relocation should be on the cards. And this is especially true if up until now you’ve worked alone from home. If you now want to bring new staff on board, is it practical to continue working from home? You also need to think about future proofing your business. If you want your business to continue growing, then you will inevitably need more staff down the line. Bigger premises will allow you to recruit whenever you need to, without worrying about any space issues.
2. You meet with clients regularly
Holding meetings at your local cafe can work, but not always ideal. If you find that the number of client meetings is increasing and they need to come to you, this could be the green light for finding a new business premises. However, if you don’t feel it’s necessary to go that extent, you can look into hiring individual meeting rooms. This can offer a reasonable compromise, particularly for the short term.
3. You struggle to switch off
Working at home offers a number of advantages. However, you do not have any barrier between your home and work life. It can become difficult to switch off work mode to home mode and vice versa. A lack of focus might be fine when business is slow, but when your work picks up, it’s essential that you have a working environment that helps you stay productive. If this is becoming an issue, or you worry about productivity, then consider moving to a small office unit. It will mean additional expense, but the benefits could prove enormous.
4. You need better parking or foot traffic
Sometimes a business starts in the perfect location, but gradually the area changes and no longer suitable. Perhaps due to redevelopment projects, other businesses nearby have relocated or closed. If your foot traffic is down, then you might need to consider relocating to an area with more substantial foot traffic. Or perhaps parking is becoming an issue. A lack of good parking can get in the way of businesses from being successful and widening its customer base. If poor parking is costing you customers, then you should begin looking for a new location.
Is now the right time?
If some of these points sound familiar, then you probably need to start investigating a new office or business space. You may think it’s better to stay put to keep costs down, but a new location can open the door to a number of opportunities.