It can be risky to open a business and it doesn’t matter what business or where the business is located. If your business is growing, then you may need to ask the question of when you should do this. If you move your business too early, then you run the risk of ending up with more space than you actually need. With this you will end up with more expense and lower profits for time to come. However, moving too late can mean you suffer opportunities and hit the bottom when compared to moving your business too early. The right timing will end up being different as per each business. There is no one size fits all but there are things to consider when knowing the right time to move.
Why are you moving?
Take into consideration the moving costs and the loss in productivity all within the short-term period and the monthly extra fees that are to be considered within the long-term range. Write down all of your concrete reasons for moving. If your list isn’t long enough or you don’t feel it is strong enough then put it away and come back to it when it looks like your situation may have improved. Suppose you started off as a small optical distrbuter and your business has grown since. You should really consider opening up an office or a store to showcase all your spectacles and colored contact lens collections to your customers.
Are you really full up?
Access the costs of where you are now and what it means to stay there, if you are violating fire codes or are over the limit of staff in that area it may be time to move. If you cannot fit anymore stock into the store room and your shop looks cluttered and hardly any room to move, then you may consider moving. Is your productivity and those of your employees ruined due to the crowded work area? Do you wish to change the entire office or just the interior finishes? In this case, it could be much more cost-effective to consider a revamp rather than an entire shift of location or property. Consider a change in the wall colours of your work place or the change of tiles to a more concrete look. All these changes will make a much more positive work environment which will instil a motivation amongst employees to work and in turn increase productivity. In the case of an e-commerce platform like the optical example that was mentioned earlier, all your targets rely on sales of your glasses and contact lenses be it blue, brown or black. Point being, employees must be motivated to work within an environment that is focussed on specific sales targets.
How did the idea first come to light?
If you came across the space for sale on your morning walk or noticed it in the daily newspaper, then be careful about this. You will always see good opportunities pop up here and there. Sometimes you may get so into the new space you have found that you forget about the pros and cons before it is too late.
Will re-organising help?
Sometimes just by repacking, reordering and rearranging we can fit more in. This works for businesses to. Figure out how you can accomplish more space without the need to move. Can you take a line away from the store and open an online store? Can you store your merchandise somewhere else like a storage unit or a friend’s garage? Installing some new storages like wall racks and hang things from the ceiling can also give you more floor space. Moreover, replacing your terrazzo benchtop tables, if any, with new professional wooden touch furniture can really spruce up the place. The terrazzo platform will be perfectly apt for your work kitchen pantry. Why make the office all ab out just the workplace furniture? Employees always need the motivation to work vehemently towards a goal for which these additional factors mainly serve as an aid.
Do you have enough funds to move?
When it comes to moving there are extra costs involved that you might not know about or even consider. Is a DIY property sale possible for you? In that case, you can significantly save up on commission and realtor charges. You will be faced with cleaning fees, deposits, paying leftover bills, paying fees to disconnect your utilities then reconnect them to the new place. Consider the option of low commission real estate agents in case you finally wish to move and purchase a new property for your office space or business.
If you aren’t sure a move is the right decision you can always seek the advice of a professional and see what advice they can offer you.