Relocating your business is just as hard and tedious as it sounds. Whether you’re expanding, downsizing, or seeking better opportunities, moving your business requires lots of planning to ensure a successful execution.
It’s definitely not an endeavour that you can complete in just a single day, especially if you’re taking care of all aspects alone.
Since we know the burden of having to change your working location pretty well, we decided to compose a short list of 8 must-do tips on moving your business to a new location.
Analyse the needed space
As usual, the first step won’t be to pack your bags and leave. Long before you even start preparing your boxes, you need to analyze what space you will need.
Regardless of whether you are expanding or downsizing, you must have a clear plan for the near future. A nice 3-5-year plan would give you an estimate of what space you will need for the period.
For example, if you plan on expanding, naturally, you will need more space for the new employees. Moreover, you need to calculate the additional equipment and inventory.
If you directly interact with end-customers, ensure there is enough space for them to feel comfortable while waiting, and at the same time, not to bother the working employees.
When you have an estimated number, consult with your HR to see if any regulations require additional space and only then can you start searching for a suitable new office.
By thoroughly analysing your space needs, you can make informed decisions regarding the new location’s size, layout, and functionality. This analysis will guide you in finding a space that meets your requirements and allows your business to thrive in its new environment.
Set up a budget
The next crucial step in moving your business is the budget. It helps you allocate your financial resources effectively and ensures you have the necessary funds to cover all the expenses associated with the relocation.
Begin by researching the costs associated with moving your business. This includes lease or purchase costs for the new space, renovation or customisation expenses, moving services, packing supplies, utility setup fees, and any permits or licences required for the new location.
Take into account both one-time costs and ongoing expenses. Remember to regularly review and update your budget as you progress through the moving process.
Keep track of your expenses to ensure that you stay within your allocated budget and make adjustments if necessary. Having a well-planned budget will help you manage your finances effectively and ensure a smoother transition to your new business location.
Consider employee needs
When moving your business, don’t forget that you are also moving your employee’s workspace. This means you will probably make considerable changes in their lives, putting them through a lot of stress.
Naturally, this will affect their work quality, and you should assume production will slow down for at least a couple of months. To mitigate these effects, there are several things you should do:
- Evaluate the new location’s accessibility for your employees. Consider proximity to public transportation, highways, and major roads. Assess the commuting distances and potential changes in commute times for your employees. Taking into account their convenience and accessibility to the new location can contribute to employee satisfaction and retention.
- Assess the amenities and services available in the vicinity of the new location. Consider nearby restaurants, cafes, and shops, as well as amenities like gyms, parks, or childcare facilities. Access to these amenities can improve work-life balance for your employees and contribute to their overall well-being.
- Evaluate the parking facilities at the new location. Ensure that there is adequate parking space available for your employees and consider any parking fees or permits required. If parking is limited, explore alternative options such as nearby parking lots or public parking facilities. Additionally, if you have employees who rely on public transportation, assess the availability of nearby bus stops or train stations.
- Involve your employees in the design and layout of the new workspace. Seek their input on preferences for individual workstations, collaborative areas, meeting rooms, and break areas. Consider creating a space that promotes collaboration, creativity, and productivity. A comfortable and functional workspace can contribute to your employee’s job satisfaction and overall well-being.
- Consider the impact of the new location on employee well-being. Evaluate factors such as access to natural light, ventilation, and ergonomic furniture. Also, assess whether the new location provides amenities that support employee wellness, such as dedicated spaces for relaxation or wellness programs. Prioritising employee well-being can improve morale and productivity.
- Most importantly, give them enough time to adjust their schedules to the new place, and don’t make it a problem if they are a few minutes late, especially if the public transport is worse in the new area.
Buying or leasing
Deciding whether to buy or lease the new space is a crucial consideration when moving your business. Purchasing a property gives you more control and potential long-term value, while leasing offers flexibility and lower upfront costs.
This is where the analysis from the first step truly takes the spotlight. In versatile times, it’s much better to rent, as loans are expensive and prices are still high.
On the other hand, just like with the COVID crisis, you never know when your business will suffer a blow, and you will need to downsize.
During the Pandemic, many companies were forced to shut down, and many who were renting were forced to honor their lease, regardless of its usage. This meant that businesses experienced pure losses.
Still, while such extraordinary events should definitely be considered, they should not take priority over genuine fact-based analyses and plans.
So, evaluate your business’s financial situation, growth plans, and long-term goals to determine the most suitable option. Consult with a real estate professional to help you make an informed decision based on your specific needs.
Moving technical equipment
If your business relies on technical equipment, such as servers, computers, or specialised machinery, planning their relocation carefully is important.
Take inventory of all your equipment and identify any delicate or sensitive items that may require special handling. If you use costly equipment, contacting removals specialists to move them is best.
Moving companies will insure all your belongings, making you feel much more secure when your highly-priced equipment is on the road. Nonetheless, back up your data before the move to prevent any damages or loss.
Build up an inventory
Moving is an excellent opportunity to take stock of your inventory and declutter. Conduct a thorough inventory check and identify any items that are outdated, damaged, or no longer serve a purpose in your business.
Consider selling, donating, or disposing of these items before the move. This will help streamline the moving process and reduce unnecessary costs associated with transporting and storing unnecessary inventory.
Figure out storage needs
During the moving process, you may require temporary storage for your furniture, equipment, and inventory.
Assess your storage needs and find a reliable storage facility to securely accommodate your items. Consider factors such as location, size, security measures, and access to the facility.
Label your items properly and keep an inventory of what goes into storage to ensure a smooth retrieval process once you’re settled in the new location.
Give clients or customers a heads-up
Lastly, don’t forget to communicate with your clients or customers about the move well in advance.
Inform them of your new address, contact information, and any operating hours or service changes during the transition period. Utilise various communication channels such as email, social media, and your website to ensure the message reaches everyone.
Keeping your clients or customers informed will maintain trust and minimise any disruptions to your business relationships.
In conclusion
Moving your business to a new location requires careful planning and consideration. By following our steps, you can navigate the moving process smoothly and ensure a successful transition for your business.
Remember to involve your employees in the decision-making process and seek professional assistance when needed to make the relocation as seamless as possible.