How To Select A More Practical And Useful Location For Your Business Expansion

Now that your business is growing more and more each year, the time has come for you to put your plans for expansion into action. However, since you may have many ideas as to what you want, trying to be practical about your final decision may be more difficult than you imagined. If you are determined to select a location for your business expansion that is practical yet useful, follow these steps.

Consider the Cost

Before you ever sign on the dotted line for anything related to your expansion, consider the cost-effectiveness of your future location. Along with rent or a mortgage if you are purchasing property, also factor in maintenance fees, security deposits, and other expenses. Once you are sure your business can afford this location, move forward with your plans.

Analyze the Property’s Size

Since you want to be able to expand as much as you wish with this move, analyze the property’s size prior to your purchase. To begin with, hire an experienced land surveying crew to survey the property so that there will be no disputes regarding property lines and so forth. In addition, make sure the plans you have for the property will easily accommodate new inventory, additional employees, and new equipment or technology.

Government Incentives

Due to communities always being eager to attract new businesses or have existing ones expand, check into any government incentives that may defer the costs of your expansion plans. Often offered at the state and federal levels, these can include significant tax breaks or other financial incentives that may take what would have been a very expensive expansion and turn it into one that costs you almost nothing.

Zoning Regulations

When considering a property for your company’s expansion, always make a trip to City Hall to find out about the zoning regulations associated with the property you have in mind. If you don’t, you could find yourself facing multiple legal headaches along the way. From the size of a sign and where it can be located to other regulations about loading docks and more, becoming aware of zoning laws and specific locality regulations can pay off in more ways than one.

Even though you are eager to get your expansion plans underway, don’t forget to do your homework first. From having a proper survey of the land to finding out about financial incentives, all of this can result in a successful expansion and continued growth of your business.