Relocating your business is a big decision, but it could be the best decision you have ever made. It gives your company a chance to appeal to a larger number of customers while also enabling you to benefit from a prime business location. There are a number of other factors that may have brought about the move too, including lower costs and better facilities. However, before you jump right in, make sure you consider the following:
● Determine your budget – Before you start looking for a new place for your business, you need to work out your finances. How much money do you have available to you? Don’t only consider the rental expenses or the cost of buying the office outright; you also need to think about the ongoing costs. A lot of business owners make the error or basing this on their existing outgoings. Nonetheless, they could be very different. After all, Internet costs and electricity bills differ depending on area and provider, so make sure you research this thoroughly.
● Accessibility – Accessibility is another factor that needs to be considered carefully when relocating business premises. Will your employees be able to get to your new office space with ease? You need to think about the transport links in the area, and the impact this is going to have on your workforce. If you choose an office in a remote location, which is only accessible via car, you may make it awkward for your employees, and this could even result in one or two of them resigning. Don’t underestimate how important convenience is. Moreover, make sure you inform your employees of the move as quickly as possible. This will give them time to put alternative plans in place.
● Professional surveys – When you buy a home, you pay for a professional survey so you can make sure there are no underlying problems with the property. Why should it be any different when it comes to your business office? Imagine the upheaval you would have if there were any foundation issues or plumbing problems later down the line.
● Sales time – Another factor to consider when relocating your business is the sales cycle for your brand and/or product. How long did it take for you to establish yourself as an expert in your industry in the current region you are based in? You need to consider this when you move to somewhere new. You are going to need time to establish yourself again, and this should be considered when doing your financial forecasts and putting together strategies. Don’t expect to open your doors and everything run just like it did in your old office. It takes time, but, of course, if you have relocated wisely, it will be more than worth it.
● Market research – Have you conducted enough market research? One of the biggest mistakes business owners make is relocating without carrying out the necessary market research. Not only do you need to understand the demographics of the area, but you also need to consider any future plans for the area that could impact the success of your business.
● Your work culture – Considering your work culture is important, even though it may not appear to be. Surely culture does not change no matter where you are? Actually, you will be surprised by how much the move impacts your workplace culture. The shock of adjusting to a new environment can make people act differently – they have different motives, and the culture can change as a consequence.
● The transition period – The transition period is something that needs to be considered extensively. You need to keep both locations running while you are in transition. In most cases, it is advisable to keep both offices running for a minimum of 30 days. This will give you the time to transition from one place to the other. While it all sounds very straightforward and easy on the surface, it can become a nightmare logistically. This is why you need to have a well thought-out plan in place.
● IT – Another factor you need to consider is your IT. This includes your connections, computers, and data too. How are you going to relocate your IT and electrical equipment? Or, are you going to use this as an opportunity to upgrade your IT kit? There are so many factors that need to be considered in this regard. With regards to Internet connections and telephones, you are going to need to allow plenty of time to ensure they are up and running in your new office.
● Communication – Last but not least, communication is vital in all aspects of business, and office relocation most certainly applies to this. There are numerous ways you can tell landlords, suppliers, customers, and other contacts that you are moving. This includes everything from social media posts to sending out emails. Make sure your chosen method of communication is suitable for the person you are telling.
By considering all the factors that have been mentioned above, you can ensure your business relocation goes as smoothly as possible. While it can be tempting to rush this process – after all, you’re eager to make your move – you need to be thorough and careful with your Top 10 common challenges during an office move & how to avoid their approach. A mistake could be very costly!