Deciding to Relocate your Business
Planning a Business Relocation
A business relocation should be a positive step in the lifespan of a company - even if you are downsizing. But for this to happen, you need to seriously weigh up all the pros and cons of moving before deciding to relocate your business. Despite the fact that relocating your business is a lengthy and laborious process to undertake, it can also result in improved productivity, a better working environment and a healthier perception about your company's image.
Here are some vital questions that you need to ask yourself when deciding whether to relocate your business:
What is the Purpose behind the Relocation?
To down / up size? Better location? Office Facilities? Cheaper office rent or a Lease Expiry? Make sure you are clear as to the purpose of your business relocation to help you make the right choice of office space for your next move.
How will the move benefit the future of the company?
Think about where your business will be in 5 years time? How many staff are you likely to employ then? If your business has a clear direction, make sure the office space you choose will fulfil these goals.
Can we afford to Move?
Budget is always an important overriding factor and whether or not your company has the funds in order to successfully migrate the business without any disruption. Use the Moving Office Budget Template to find out how much your business relocation is likely to cost.
Is now a good time to move?
Or as good a time as any... be careful not to move if your business is undergoing major changes or taking on larger project work which you cannot afford to disrupt.
What is the current state of the real estate market in your area? Ask a Tenant Rep Broker about what market rents are being achieved, and indeed whether you can afford them right now.
If you have decided that a business relocation is the way forward, you can start planning your office move using this Business Relocation Checklist. Download it Now.
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