Relocating a Business: Important Things You Should Consider

So, it’s time to move your business, to change things up. Maybe you want to branch out, to spread your influence. Or perhaps your company is focusing on other things, on tackling a new market for new products or services that you never offered before. Whatever your reason might be, know that this is not an easy thing to pull off. 

Before actually making this plunge and relocating, you need to keep a couple of things in mind. Namely, this is a very big, serious process that is rather difficult to handle. Still, you know the old saying – no risk, no reward. 

Expenses

So, first things first – expenses. Probably the most obvious, and annoying, part of a relocation. However, we all know that you don’t have much of a choice. Besides, isn’t a big part of you doing all of this to get more money? Relocation is not a cheap affair, and just like you need funding for your start-up at first, you will have to get some extra money for the work that is to be done now as well. 

Now, this isn’t just about saving up some extra money. You also need to remember all the downtime that will inevitably happen once you move. Since a lot of your energy and time will be dedicated to the move itself, you will most likely not be able to work, and actually make money. This can take days, weeks, even months for significant moves. So you need to take all of this into consideration as well. 

You also need to consider the costs of taxes, fines, licenses, and whatever added costs you might expect once you relocate. We all know what good old Australia’s bureaucracy is like, and how difficult it can be to navigate its pitfalls.

Your new location

Relocating isn’t just a change of address, it’s you moving to a totally new market, and most likely moving your own life. Think about how your day to day affairs will change to reflect this move, how you will handle everything. You need to do the right research, research that doesn’t just center on the actual market, but on an actual day to day work.

For example, let’s say that your work is based on people actually reaching your office, on foot traffic and local custom. You need to do some research on the actual neighborhood you are going to be located in, ask around, and speak with other business owners. See what they are doing right, what they are doing wrong. 

You also shouldn’t forget about your employees. See how they feel with the actual move. It’s not just about you now, you have people to take care of. If all your star employees genuinely mind commuting longer for work, or even uprooting their lives, know that this will breed resentment. Think about the real possibility of needing to replace your core people. Or, think of how you can make this move actually worth it for all of them.

Logistics

Then there is the simple matter of logistics. No matter how large or small your office is, you are going to spend a lot of time on this. The larger issue is probably the actual target location.

For example, high-quality freight companies in Australia might help make things easier, but it’s still going to be a serious headache. 

If we are to give you some advice on this one, its try being through, get some help, and don’t leave things half-finished. The better you do this, the faster you get the move over with, the faster you can get back to work and actually start making money again.

Actually moving

The actual move means packing things up properly, getting ready for your relocation. So, you will need to decide on the proper date of the move, all focused on the actual date of reopening. Now, this timing might be a simple matter, but it’s anything but. First of all, depending on your area of expertise and the type of work you do, you might choose one time to move or another. Or, perhaps it might not matter. While procrastination is never a good idea, there is nothing wrong if you postpone your move by a month or two if you’re hitting your peak season.

Then, you also need to consider relocation costs. Poor, difficult weather means your movers will most likely charge a larger sum. It might also take more time, and more downtime because of moving means more downtime on work, and less money being made.

Settling in

Finally, settling in. Draft up a good schedule, a good plan that will help you get back to work as soon as possible. Keeping the entire process of settling in in mind means you will get a handle on your business quickly, and efficiently. Handling everything from simply getting the water running and the electricity on in the new place, down to promoting yourself through your online marketing efforts.

Conclusion

Relocating your business can help you break a wall, it can assist you in finally moving forward. Whether it’s actually spreading your influence or just attacking new markets, it doesn’t matter. What does matter is that you approach it intelligently. So, think about not only how you will finance your move, but actually settling in easily. The actual logistics of everything, and its price, can make or break your move. And of course, keeping your old customers is a must. Stick to our above-noted tips, and you should be completely fine.