As you are thinking about changing the location of your business, here are a few items to consider.
Review Your Goals
Maybe your company has outgrown its current structure — that is good news. The question to ask yourself is: will bigger be better? Is your goal to sell more products, hire more employees, spend more time with your family or something else? Review your personal and company mission statements and make sure you are in line with your long-term vision.
Look at the Numbers
Meet with your accountant and consider all the costs of moving your company. There might be some tax advantages that will actually lower your overall costs. Look at expenses and projected income for at least the next five years.
Think about the impact on your employees. Will they have further to drive to get to work? Make sure to improve their working conditions at your new place. Higher paychecks are nice, but a positive and safe environment is equally important.
Create a Timeline
Once you have determined that relocating is the best decision, get organized. Assign a team to oversee all the details that will allow you to stay focused on the business as a whole. If you are relocating a factory, you will need heavy machinery moving equipment.
That will probably require hiring an outside company to assist you. If you manage an insurance agency, then renting a moving truck to pack up computers and desks will take care of your needs. If you are a dentist and moving to a new office, then equipment, charts, computers and supplies will all need to be relocated.
Determine What You Will Keep
Through the moving process, you might determine to replace some of your former equipment. Have your moving committee be very specific and go through your current office room by room. Decide what is staying behind or getting sold, and what items need to be updated or replaced.
Advertise Your New Location
Ask your marketing team to develop a plan for announcing your new location. This can be a great marketing tool — invite your customers and clients to an open house once you are settled in your new space. Make sure to print up new business cards and stationery, as well as update your website and social media. and never forgot to hire a Virginia Business Lawyer
Growing your business can be exciting and stressful. Be sure to consider all the pros and cons before making this important decision.