When you’re running a business, one of the most common steps you can make, on your path to expansion and success, is to consider relocating your business. This is a perfectly natural thing to do, as you’re looking for every possible way to get the best odds for your business success. There are some things to keep in mind when considering business relocation, however. While it can give your business the necessary boost for achieving success, it can be a very complicated and stressful affair.
We did a bit of researching and we’ve made this short guide which aims to help you understand some of the most common perks and problems business relocation may have in store for you. Hopefully, this guide will point you in the right direction and it will help you understand what to look for if you decide to embark on this adventure. So, without further ado, let’s dive straight into it.
Why location matters?
According to business development experts, businesses usually move for five main reasons. Those reasons are workforce issues, need for the facilities upgrade, desire to lower the costs and increase the cash flow, need to expand to new markets, and the desire to elevate the overall quality of life. Depending on the business you run, some of these reasons are probably more important than others, but basically, every business move can be attributed to one of these.
Enhancing your brand
Business owners and their workforce know what they are doing while on their job. When you’re working at an office, you stop finding appeal in it and it becomes your workplace. It’s totally different when it comes to your clients and customers. Outsiders learn a lot about you and your business when they visit, and the way your office makes them feel is immensely important for your brand.
It’s common for style, tone, and purpose of your branding to change as your company evolves. That’s why you should consider updating your aesthetics, visuals, and overall appeal. Some of the fundamental factors for this change are the location of your business, interior design, as well as the style in which you choose to present your offices. Keep in mind that you should carefully consider all of your options when it comes to re-branding or brand updating. Make sure you are absolutely certain about what you want to achieve with the relocation and in which way it will help grow your brand.
Dealing with cost issues
As we’ve already mentioned, cost issues are one of the main reasons why businesses decide to relocate. Whether it’s because of the high rent prices or utility bills, a secluded neighborhood that’s tricky to access via public transport, distance from the related market, or any number of cost-related reasons, businesses usually tend to bounce back after they relocate.
With that in mind, there are other cost-benefits of relocating your business. For example, large companies building semiconductor factories, auto plants or recycling facilities usually get quite a lot of tax breaks and they get billions of dollars’ worth of tax concessions. This is usually not that easy to achieve when you’re running a smaller business, but you can earn quite a lot by selling a land or the building where your business is located and buy or rent out a more cost-effective space for your office. There are many not-so-well-known ways you can boost your cash flow through relocating your business, so make sure you do a thorough research and learn as much as you can on how to save money.
Business owners must consider the fact that the relocation process can be costly, too. Once you’re certain your business needs moving, you must make sure you have planned out everything to the detail. Do a thorough research and discuss everything with your employees. Take suggestions and make sure you know exactly what you need for the process. Think about the quality of life when you’re weighing your options and think about your existing workforce and how the relocation will affect them. With careful planning and organization you get to significantly lower the costs of your business, while, in turn, you get to expand your brand and boost your workforce.
Updating your current space
There are alternate solutions to moving if your business is located exactly where you want it to be, for example, renting out adjoined facilities so you could expand and upgrade your own office space. Splitting the office can also be a good solution, or even dividing your workforce into different offices located nearby. However, even though relocation may be a more complicated and challenging option, it’s usually the best, once you planned it out properly.
Re-organize your office space, get new office equipment, and call for an interior designer so you can maximize the space you already own. There are some amazingly smart solutions for overcrowded and crammed offices. For example, storage facilities in Sydney provide you with enough storage space you need, so quite a lot of businesses have used those facilities to store unnecessary equipment or office supplies. Some even use those facilities as their own storage, minimizing the need for in-house storage, so they can expand their office space. Some businesses like certain ecommerce websites operate directly from their storage units.
It’s not impossible to grow your business without moving, but you have to increase the productivity of your operations. You can train your personnel to work in a more efficient manner; you can replace the outdated equipment used throughout the office, and you can do just a number of small changes in order to enhance the quality of your business space, which will make a huge impact on the overall productivity.
Wrapping It Up
There are many ups and downs when it comes to the business life of a company. Some decisions are way harder to make than others, and relocating is one of those decisions. Relocation is usually very stressful and it’s often quite challenging, but it can bring an incredibly positive change in the way your business works. Relocation doesn’t have to be essential for your business to grow, but it can be a serious step in the right direction. But before you take that step, make sure you’ve thought about all other solutions as well.