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Things To Consider When Relocating Your Business

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Whether you are choosing to relocate across town for bigger premises due to increased growth, or you are moving to a different town or state with your family, and your business is having to follow you, the time comes for most companies when they have to pack their bags and move on to pastures new. The prospect of such a huge decision can seem daunting at first, but carefully planning your approach can make the world of difference to a relocation going well or going poorly. Below are a few things that you should take into account when making the decision to relocate your business.

Is it the right decision for you?

The very first question you should be asking yourself is whether the move is truly the right decision for you. It may be something that has been forced upon you due to family circumstances, in which case the choice of not relocating is a moot point. However, if the choice is being made of your own free will, you should question your motivations and weigh up the pros and cons of relocating. If you are simply searching for larger premises to accommodate your growing staff numbers or increased catalogue of products, you should first consider extending your current base of operations. The building next to or above yours may be available to you for expansion. Alternatively, you could seek planning permission to extend the building into your grounds thereby increasing your workspace. By doing this, you save yourself the hassle of physically moving your business to a new location and advertising its new premises. If this is not an option for you, then you should move on to the other points detailed below. If, however, you are relocating to try and situate yourself in a less competitive location you should very carefully consider how advantageous the move will be to your business. Let numbers and facts guide your decision making, not gut feelings.

Pick the right location

Once you have ascertained whether a move is the right choice for you, you will need to pick the right location to support your decision. If you are relocation to a different part of town, this will be an easier process as you are already aware of the various locations and what they have to offer. If your business relies on passing trade, you will need to ensure that you are where you can easily be found and accessed, if you offer on online service or have a niche product that people will travel for, your options open up a little. Larger buildings at lower prices can be found in industrial parks or further away from busy town centres. If you are moving to a different town or state you will need to do plenty of research. Visit where you are going to be moving to and get to know the area. Question other business owners about their experiences and ask for advice. Many small business owners stick together, and will often offer counsel and support to those in need of it. If the cost of the premises you are looking at seems too good to be true, it may well be because many owners do not want to establish themselves in that particular area. There may be social media groups or forums you can join specifically for business owners in that area, utilise the information they have on offer.

How much is the move going to cost you?

Just like when moving house, the cost of relocating your business is something that many people can find it easy to overlook. Getting quotes from companies like Chess Moving can help to plan out the financial implications of physically moving all your equipment from one location to another. However, there are other costs to factor in here. Not only must you consider the fact that you will need to pay for packing materials, but you will also need to close your business for a day or two while you physically pack everything up, transport it to your new location, and set up your office or shop again. You may also have slower business than usual after the move as your regular customers adjust to you new location. While many of these added costs can be difficult to predict accurately, you should at least factor the numbers into your calculations when budgeting for your move. The last thing you want to do is find yourself more out of pocket than you realised because you forgot to factor in your loss of income during the move.

Marketing

Yet another crucial, and often overlooked, aspect of relocating is marketing. If you operate an online business, then all you will need to do is ensure that your customers are warned in advance of the upcoming move, so that any disruption in service is fully expected. If, however, you operate from a physical shop, you will need to advertise your upcoming move well so that all your loyal customers are aware of it. Moving across town for larger premises means that you may not lose many customers, but could gain some more as your new premises give you a greater appeal and reputation. On the other hand, if you are moving to an entirely new town or state, you will need to advertise to the locals well in advance that you are arriving. You should treat this as if you are opening an entirely new business, as many will not know who you are. The plus side is that you have your years of experience to make sure that your fresh reopening is well-planned and offers you the ability to gain a good footing in your new market.

Obviously, each one of these points to consider during your move has many factors within that you should bear in mind. However, if you carefully plan and consider these four things, you will be on the path to your relocation being the best decision you ever made for your business.

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About The Author

I am a Business LifeStyle coach who specialises in working with artists, designers, crafters and all creative professionals. Myself and my partner Stuart Horrex are here to help you to achieve your Life & business goal and dreams. We have had over 20 years experience in finance, retail,furniture,food,wine fashion,crafts and hospitality.

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