Relocating your business can be a hectic and challenging process especially if you don’t have the right support system in place. Key aspects here include balancing the various factors such as sensitivity to the needs of the employees, cost of moving, effect on the customer, and finding the right space for the new location. However, with proper planning, the process can be a whole lot more tolerable and enjoyable.
In this comprehensive guide, we show you all you need to know and the steps to take to have a smooth and seamless business relocation process.
Let’s get started.
Experts warn that moving is expensive as it involves transportation costs, renovation, or the design of the new place. Also, it’s nearly certain that you’re moving into a bigger and prime space that’s more expensive than what you’re paying for rent right now. Ask yourself if you’ll be comfortable paying the new rent without straining.
Another aspect of readiness to move is employee preparedness. Have you prepared your employees for the change? How many are ready for it? If some won’t be moving with you, what’s the impact of that on business performance? If there’s a need to replace those that won’t be moving along, you need to have them replaced before relocating.
Secondly, is the new location favourable to your current employees? How will the relocation affect their personal lives and motivation to work? If you realize that it will have a negative impact, try and look into ways of mitigating those risks so that you have the support of your team. Also, you’ll need to ensure that the new space is spacious enough to accommodate all your assets, equipment, and team.
Also, you’ll need to keep your clients in the loop so that there’s an interruption of service. Let them know well in advance that you’ll be closed for a few days because of the relocation and inform them of the new location. If there are delays, communicate in good time to avoid inconveniences in good time.
Negotiating a build-out has the advantage of guaranteeing a space with specifications of your individual business needs. Building your own space will eventually result in reduced expenses and also provides room for customization. You may even include energy-efficient power options in the building design.
Parting shot
Relocating a business is an intricate undertaking with so many moving parts that a single mistake can jeopardize everything. However, proper planning can make all the difference especially if you’re working hand-in-hand with your employees. Follow this guide for a seamless and enjoyable moving process.
In this comprehensive guide, we show you all you need to know and the steps to take to have a smooth and seamless business relocation process.
Let’s get started.
Determine if you’re ready to move
Are you ready to relocate your business? That might seem like a cheap question to answer. But take time and think about if you’ve got everything together that will provide a smooth transition to the new location. First, do you have the financial capacity to move?Experts warn that moving is expensive as it involves transportation costs, renovation, or the design of the new place. Also, it’s nearly certain that you’re moving into a bigger and prime space that’s more expensive than what you’re paying for rent right now. Ask yourself if you’ll be comfortable paying the new rent without straining.
Another aspect of readiness to move is employee preparedness. Have you prepared your employees for the change? How many are ready for it? If some won’t be moving with you, what’s the impact of that on business performance? If there’s a need to replace those that won’t be moving along, you need to have them replaced before relocating.
Research the new locations
Several factors dictate how you should go about the process of searching for a new location. The first one is the flow of traffic or customer base. Your clients are the lifeline of your business and you’ll first need to ensure that the new location has a strong target market.Secondly, is the new location favourable to your current employees? How will the relocation affect their personal lives and motivation to work? If you realize that it will have a negative impact, try and look into ways of mitigating those risks so that you have the support of your team. Also, you’ll need to ensure that the new space is spacious enough to accommodate all your assets, equipment, and team.
Create a relocation plan
Don’t just wake up and move without having a proper plan of what should happen and in what order. In this plan, you should also include a financial plan that reviews the financial position of the business. It should also have a market analysis clearly outlining who your target market is and how you plan to sell to various segments.Create and assign responsibilities
Make your employees feel part of the relocation process. Assign them responsibilities and involve them in deciding on the timelines that certain activities and processes should be completed. Keep them informed on any developments that might affect the moving process.Also, you’ll need to keep your clients in the loop so that there’s an interruption of service. Let them know well in advance that you’ll be closed for a few days because of the relocation and inform them of the new location. If there are delays, communicate in good time to avoid inconveniences in good time.
Should you rent, build or buy?
As soon as you start thinking about moving into a new location, start weighing the value of the building, renting, or buying the new space. While thinking about this, you should bear in mind your financial standing and the cost-effectiveness of your preferred option both in the short-term and long term.Negotiating a build-out has the advantage of guaranteeing a space with specifications of your individual business needs. Building your own space will eventually result in reduced expenses and also provides room for customization. You may even include energy-efficient power options in the building design.
Have a to-do list
With the help of your team, come up with a to-do list to assist in ensuring that nothing is overlooked. As earlier hinted, you should allocate responsibilities to various employees and tick the boxes when their activities are completed.Research a moving company
When it’s finally time to move, you’ll need to work with a reliable and efficient moving company like Relo-To that is experienced in business moves. Professionalism should be at the top of your requirements that the best company needs to possess. You’ll also need to think about whether it’s necessary to get insurance for the relocation so that it covers things like breakages and damages.Parting shot
Relocating a business is an intricate undertaking with so many moving parts that a single mistake can jeopardize everything. However, proper planning can make all the difference especially if you’re working hand-in-hand with your employees. Follow this guide for a seamless and enjoyable moving process.
