Moving your business can be one of the best decisions you’ll ever make. It can open up new opportunities for you to expand and grow beyond what you expect. However, sometimes, things can go wrong, and moving your business may not work out the way you expect.
You can actually prevent such situations by planning your business moving carefully. The key is to make a thoughtful decision after carefully considering what you’ll have to do to get them moving right and how the moving can affect your business.
Here’s a good way to start:
Things To Consider Before Moving Your Business
1. The new location
The new location of your business should be the first factor to consider before moving. Choose a new business location that is convenient for your clients, customers, suppliers, and employees.
Make sure the new location is also close to public transport and has adequate parking space for employees, clients, customers, and any other visitor. More so, make sure the entire area is suitable for your type of business and can reinforce your business culture.
Crime rate is also another key thing to consider when choosing a new business location. While the nature of your business may not make you susceptible to crimes, clients, and customers as well as suppliers may avoid the area if it is known for high crime rates.
2. The size of the new facility
Presently, your business may not be on the top ten list of Fortune 500 companies, but you’d be glad to see your business grow. When it does, you’ll have to hire more employees and this requires more space.
Will the new facility be large enough to accommodate your business expansion, or do you have to move again because of poor planning? Think carefully before picking the size of your new facility.
The size of the new facility is one of the key things you’ll have to consider before moving your business. Pick a facility with enough space to accommodate your business as it grows.
3. The cost of the new facility
The cost of the new facility you intend to occupy shouldn’t put a hole in your business budget. Keep the cost of the facility well within the reach of your business profit margin, especially if you own a startup and plan to make a long-distance move. Consider the cost of your new facility and its impact before moving your business.
4. Proximity and Access
You shouldn’t lose half of your customers and vendors just because you’re relocating. If you’re not moving across state lines, find a suitable location that’ll be easy for your customers to reach you easily.
Don’t make the mistake of moving too far away from your well-known vendors. You may need some of their services immediately after you’ve moved. Finding a new reliable vendor in a new city or town while you’re still trying to settle in may be challenging.
One of the key things that can help your business grow is having a competitor that’ll constantly inspire you to do things better. But what happens when you’re competing with several competitors with a huge customer base in a particular location?
This is even more challenging if your business is a startup. Consider your options carefully before picking a precise location.
6. How to find and hire the right moving company
Where exactly can you find a professional business moving company with a track record of moving business successfully? What should you consider before hiring any such moving company?
What are the odds of hiring a rogue mover who will disappear with all your business items? What will happen to your business if you get every part of the moving right and the moving company you hire doesn’t show up?
I’ve got great news for you! MoverJunction.com specializes in screening licensed and Better Business Bureau (BBB) rated moving companies based on their performance, customer reviews, and background check.
Based on your request, you’ll be connected to professionally licensed and BBB rated moving companies anywhere in the United States. You’ll get up to 6 free moving quotes so you can compare rates carefully before making up your mind.
You’ll be rest assured that your business will be moved safely on a precise date and your client and customers will know exactly when you’ll resume at your new location.
7. How safe is the new location?
If the new facility is not located in a safe part of town, you may find it very hard to get new customers or clients. Also, your previous customers, clients and vendors may decide to stay away for safety reasons.
Before picking any part of town, check the crime rate, do some background check and visit the location personally.
8. What kind of businesses are in the area?
How many of your current employees will be glad to move to a new location with you?
Some businesses complement one another because they have a similar customer base. A real estate company and a self storage company can benefit from having a similar customer base without being competitors.
You can pick a location that has companies that will complement your business favorably without a direct competition.
9. Will you find and hire the right employees?
If moving your business requires hiring new employees, you’ll have to consider that before picking a new location. Research all the locations you’ve picked as options to see if you can find experts in your industry.
If you move your business to a location where you can hardly find the right professional you need, you’ll have to pay more to hire one from a different location.
If you’re moving your business to a new facility within the same city or town, consider a new location that’ll be convenient for you and your employees. The key is to consider the distance between your home and the new facility.
Do you have to move to a new home after relocating your business? What will be the average commute time between the new facility and the homes of your key employees?
How many of your current employees will be glad to move from their homes so they can continue working with you? You should probably have a discussion with your key employees before picking a new location.
11. How will the location affect your business reputation?
The location of your business can affect its reputation. Some businesses can easily build their reputation in locations where their industry is well-known for delivering top-notch performance. If your business is one of such, you’d have to consider the location you pick carefully and weigh your options before settling for any and moving your business.
12. Your moving cost
How much should you budget for moving your business?
Commercial moves such as business moving are typically more expensive than residential relocations. So, you should create a realistic budget for your business move. But how exactly can you come up with a realistic budget rather than mere assumptions?
You can use this Moving Cost Calculator specifically designed to help you figure out the cost of your business move. You can also request for Free Moving Quotes and several professional commercial moving companies will send you multiple estimates.
You can draw up a realistic business moving budget based on the outcome of using the moving cost calculator and the moving quotes you receive. Having a business moving budget will make it easier for you to plan your relocation better.
13. Future growth of your company
Almost every business operates with the intent to grow and expand. If you’re planning a business relocation, you’ll have to consider the future growth of your company. So, make sure your new business location provides adequate room for growth and expansion.
For example, find out if the office space has enough room to accommodate more employees joining your team in the future. If it does not, find out if the office building has a similar space that you can use if you need to expand.
You shouldn’t hesitate to look ahead and think big for your business while making a moving decision. So, choose a new location with room for growth and expansion and not one that may force you to move in a year or two.
If you’re considering an interstate business relocation, you’ll have to consider the taxes of the state you’re moving to. Will your business be paying more or less in taxes and how will it affect your profits?
Some states with higher taxes are highly profitable for business so you can easily cover the costs of taxes. However, the situation may not be the same for every business. So, find out how taxes will impact your business if you’re considering an interstate or international business move.
15. Access to clients and customers
What impact will your business moving have on your clients and customers? This is one of the key things you’ll have to consider when moving your business. Will your regular clients and customers still be able to reach you or are you breaking into new markets and need new customers?
If you’re moving to a new market, you’ll have to find out the average cost of acquiring new leads, customers, and clients etc. Find out how all these changes can affect your business. Consider your options carefully before making up your mind to move.
To make your entire business moving is a smooth process, you’ll have to work with your employees to create a realistic timeline for the move. You should come up with a good business moving timeline several months before the relocation.
This will give every employee and anyone else involved in the business move enough time to prepare and to ensure a smooth transition.