Deciding Whether to Move Office
Factors Influencing the Decision to Move Offices
If you're like most companies, deciding whether to move office or stay put is a tough one. There are so many factors to consider, and given the current economic climate, you will want to ensure you make the right choices and make an informed decision.
If your office lease is nearing expiry, it's time to evaluate whether or not to renew your lease or find a new home for your business. The following factors should help weigh the potential benefits and drawbacks of a major office relocation:
Analysis of your needs
Whenever a business is weighing up whether to move office or stay put, you need to undertake an analysis of your requirements that will enable your business to operate successfully at its optimum level. Consider the size of office space, location, facilities, company image and technology.
Your Current Office
One of the first things to consider is whether your existing office is meeting all your demands. If it does, and you are able to renew your office lease on favorable terms, it may be wise to stay put. You might also consider an office refurbishment and upgrade the facilities and design to increase business performance.
Cost of Relocating
The cost of relocating your entire business can be an expensive one. As well as paying for the new office to be designed and built to your specification, there are other costs to be aware of; real estate lawyer fees, migration costs, and possibly higher office rental. Use the Moving Office Budget Planner to make you aware of all the costs associated with an office relocation.
New Office Facilities
Use the Office Space Checklist to help assess the suitability of any potential new office space. Mark each point out of 10 when touring office properties to help you make the right decision when it comes to chosing office space.
There can be many benefits a new location can bring to the business; new business neighbors, better amenities or perhaps closer proximity to public transport. Carry out an analysis of your current location to see whether it is meeting all your objectives. This will help you to decide whether to look for office premises in the same location.
Impact on your Business
An office move that has been well planned should have a positive effect on a business; improved performance, higher staff motivation and satisfied clients. Make sure the decision to relocate brings mostly positive benefits for your business. Otherwise, the upheaval is really not worth it!
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