Justification for Relocating a Business
Is it time to rejuvenate your business by a change in location and an office with better facilities? Perhaps your office lease is due to expire and the office rent has increased beyond your means. Businesses need to relocate for a variety of reasons, and the decision to move offices needs to be done with careful planning and close analysis in order to ensure that a relocation is a viable option and to secure the right office space for your business.
Assessing your Needs
The decision to relocate the business is never an easy one, and a relocation can be an upheaval and a costly project for many companies. Even if your office lease is expiring, you still need to make a close review of your requirements to determine whether a reorganization and renewal of your existing office would be more beneficial.
- Is this the best location for my business?
- What office rent can we ideally afford and does the current office meet that?
- Is the type of building and office layout maximizing brand strength, staff productivity and an all-round favorable impression?
- What office facilities do we need to operate effectively?
- And can these be improved upon?
- Is my office too big?
- Too small?
- Will it accommodate any growth if we were to renew the lease?
Impact on Clients and Staff
You will also need to consider the impact a business relocation will have on staff and clients. Even if you are relocating close by, change can be disruptive for staff and you will need to consider the effect it might have on productivity. As for clients, be sure you meet their needs too. You will need to ensure that the new office building and interior gives the right favorable impression of a flourishing business, still able to meet their growing demands.
Whatever decision you chose to take, consult with a Tenant Rep Broker to help assess your options and weigh up the market. Remember that early planning will also assist you in a achieving a smooth and successful relocation, so use the Office Move Checklist to guide you through each important stage.
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