Entrepreneurship

Relocating Your Company? Here Are 7 Things to Consider

There comes a time when a company changes its location due to many reasons, and over the years, we have witnessed many companies relocate. Some do it to expand and some do it to reduce cost.

Relocating your business is a huge hassle; you have to be aware of every step you’re taking. And with the current circumstances, there are many factors to put into consideration when you are about to relocate.

 

1- The Grand Plan

You should plan the whole moving process with all its details.

Start your plan by listing the reasons for your moving along with its advantages and disadvantages. Your plan should include all of the details, like your budget, your taxes, and your future dreams of your company.

Also, you should meet with your employees to inform them of the news. You can also ask them about their opinions as they might point out something you didn’t notice.

 

2- Will Your Budget Cover?

The very first thing to put into consideration is your budget, you need to make sure that you’re financially capable of relocating.

You’re not just renting a new office, you’re doing everything all over again.  Your budget must cover the packing and unpacking, the shipping, and also if you will install new desks or new decoration to the place.

If your employees can work from home during this time then you won’t face any major loss, but if they can’t then you will have a problem. If your employees can’t work from home then your business will be on hold until they can operate again from the office, which will lead to a financial loss.

 

3- How Much Will The Rent Cost?

The whole rent thing will depend on the reason for your relocating.

If you’re locating to expand then you will be looking for a larger office so the rent might be higher. If you’re relocating to reduce cost, then you might want to check the rent options and how it will affect your business’s financial plan.

Remember, you’re not just paying rent, you have an electricity bill, gas bill, and many other bills to pay. So, you need to do many calculations regarding how much money you will be paying per month. Will it be the same, less, or more?

 

4- Your Employees Commute

The commute is very important; you have to be aware of the location you chose for your company.

When you’re choosing a location, choose a place that is reachable for your employees. It is better to choose a place in the middle so employees don’t waste time on the road.

Put in mind that some employees can resign due to the long distance you have chosen. This is why you have to pick a location that is easy to reach.

 

5- Pick A Decent Area

Gather all of the information and details about the area you’re locating your office in.

Is it easily accessible? Can transportation be found easily? Either subway trains, cars, or public transportation.

When choosing a location, it is better to choose a quiet place with no crowds. Especially in this current situation, people are avoiding crowded places at any cost.

 

6- The Office Place

Again, this depends on the reason why you’re relocating.

If you’re expanding then choose a bigger office to accommodate your employees. But if you’re reducing costs then you need a smaller place and put in mind that the place’s space affects the amount of the rent.

 

The Location’s Culture

Your business and company have to be culturally fit.

You need to pick a location that won’t have a negative effect on your company. It has to be a safe location so your company and employees won’t be odd when coming every day.

Do some research on the location and ask if it is safe or has a high crime rate. You need to make sure that you’re choosing a place where your employees can feel comfortable.

 

Eventually, You should think of every little detail when you’re relocating. This is why making a plan is essential because sometimes staying where you are, is better than relocating.

 

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