Sometimes, it’s simply time to go, but you should never jump into a business relocation without thinking about a few things first. Whether you’ve exhausted your reach within your current market, need to upsize to a larger facility, or need to move in order to live your desired lifestyle, you never want to make any business relocation decisions lightly. Take the following into account in order to have an efficient and successful move.
Five Considerations To Make Before Relocating Your Business
The New Location
Be sure to really analyze the location you’re looking at. Is the cost of living lower or higher than it is at your current location? What about your operating costs? Different states have different tax laws, and you don’t want to be surprised. Also research your new location’s consumer base. If your business sells a specific product, analyze competitive products in that area, and get to know the habits of the local consumers. Finally, consider how long it will take you to get to your new location and whether you will need to close your business during the transition or can manage to sustain both locations while the relocation is finalized.
The New Market
You’ll need to do ample research to understand the market in your new location and how it compares to the one in which you are currently operating. Understand the demographical differences, evaluate competitor strengths and weaknesses in the new area, and make sure that your services are needed. If your relocation is the result of an expansion, take a hard look at your business in order to decide if you really need to expand or if you simply want to. To make your expansion successful, you need to start with a logical, supported reason as to why it’s a good idea to expand. Finally, look at how your business stands within your current market, and analyze the effects of the relocation.
The New Facility
If you are upsizing to a larger facility, figure these higher costs into your relocation and business plans. When choosing your new facility, be sure to consider the speed at which your company is expanding. There’s little point in relocating to a building your business will outgrow within six short months. Also, consider your new facility’s proximity to businesses offering similar products or services, its parking situation, and any relevant ordinances or zoning restrictions. Once you choose a building, you’ll need to decide whether or not a renovation is in order to create a functional space for your specific operations. Many older buildings will need updated electrical wiring to support your business needs, and you may need to invest in cental air conditioning as well.
A significant relocation can have drastic effects on your workforce. Consider the situations of your employees (you can even talk to them about it) and how many of them will leave the company when you move. You’ll also want to consider the time and money it will require to hire and train new employees and what these new employees will be expecting from you based on the habits of the area. For instance, some areas regularly provide employees with catered lunches while other areas expect employees to provide their own food. Also consider market customs and how these will affect your workforce. For example, some United States cities see businessmen wearing jeans to the office on a daily basis whereas other cities implicitly require more professional work attire. Get to know the folkways of your new market and evolve accordingly. Finally, be prepared for a shift in your workplace culture. Your new employees are unlikely to behave and function exactly as your current workforce does.
How Will You Get There?
You can opt to move your business yourself with help from employees, family, and friends, but a professional service is always a better idea. Professional movers have the experience and industry knowledge to manage your business relocation with as little interruption to operations as possible. Such experts can assist you with organizing and packing away your business, and they can provide resources for important things such as mover’s insurance. Let a moving company take some of that moving stress off of your shoulders.
The moving teams at Ocean Moving and Storage have experience with both local and long distance corporate moving services. We’ll provide you with a free quote and ensure your relocation goes as smoothly as possible. To get in touch with us, contact us online or give us a call. We can’t wait to help you with your business relocation.