After spending a few years in a particular region, you’re likely to explore the idea of relocating your business. Some common reasons for moving an enterprise include expanding marketing reach, reducing operating costs, and increasing proximity to clients. Regardless of your motivation, here’s what you should do when moving your business to a new location.
#1 – Have Valid Reasons for Relocating
Since it’s a significant step in your investment life, you must have valid reasons for relocating your business. Many entrepreneurs rush into the decision without considering its effects. Remember, you’re leaving an established client base for a new town, where you’ll need to build your brand and increase awareness.
Ensure that you research before relocation. Why are you moving? How will you profit from relocating? Is it a worthwhile risk? Answer these questions to see if you’re ready to make a move.
#2 – Find a Suitable Location
Once you’re sure that moving is beneficial, it’s time to find a suitable location for your business.
The ideal location depends on your business type. For instance, an e-commerce business requires a small office for handling client queries and a storage area for handling product shipments. On the other hand, a grocery store must be close to residential areas.
You must also consider your staff’s needs. If you have many employees, you need a spacious parking lot. Also, the office should be easy to access.
#3 – Double-check Relocation Costs
Once you identify a good location, confirm that relocating isn’t more expensive than its potential benefits. Moving to a new area is costly.
To determine whether the move is worthy, outline the expected costs. How much will the moving company charge you? How many profits will you lose during the relocation? How long will it take to recoup the investment?
If moving costs seem unrecoverable, you might want to reconsider your decision.
#4 – Inform Relevant Authorities
It would be best if you informed the IRS that your business is moving to a new location. Information on how to notify the taxman of your move is available online.
Depending on where your live and the type of business, you might also need to inform the local tax collector and zoning office of your relocation. Some zoning offices must approve the change of address before you relocate a home-based business.
#5 – Inform Your Employees
It’s essential to let your employees know that you’re planning to move. Inform them at the start when you’re still looking for a suitable location.
Updating your staff on your company’s future makes them feel appreciated. More importantly, it enables them to plan for the future.
#6 – Coordinate Relocation Plans
Next, figure out how you’ll move your office equipment, such as furniture and computers. For IT equipment, gather a team of computer technicians to plan how it will fit in the new location. You’ll also need to hire interior designers to mark the layout for the new office.
When planning, ensure that the items get delivered before your lease for the new office begins.
#7 – Hire a Reputable Moving Company
After planning, the next step involves hiring a reputable moving company. It’s tempting to do it yourself, especially if you have budget constraints. However, hiring pros is advisable because they guarantee the safe transport of all your items. Moreover, they have the right equipment.
Before hiring a company, obtain quotes from at least five different movers. This helps you find the most affordable option. Also, check reviews and ratings from previous clients.
#8 – Update Your Customers
Remember to inform your customers about your relocation. You can share the news using emails, social media platforms, SMS, and the company website. Don’t forget to include information on your unavailability during the moving process.
#9 – Update Online Platforms and Advertising Resources
After moving, update your email signatures, social media pages, and business website with your new address. Also, include the new address on your Google Maps and Google My Business profiles.
If your advertising resources, such as business cards, brochures, billboards, and flyers have the old address, update them after completing your move. Nothing is as bad as having an outdated address on print media. Besides making your business inept, it confuses customers and tarnishes your reputation.
#10 – Update Your Insurance Policy
Although your landlord might cover fire damage to a building, they might not cover the equipment inside. It’s why you need an insurance policy from a reputable company.
Every business person dreams of expanding their reach and covering as many locations as possible. It takes hard work and commitment to reach the point of considering relocation. However, you can undo years of hard work by rushing into moving.
Before anything, weigh the pros and cons of moving. If the benefits outweigh the disadvantages, go for it. Otherwise, be patient.
Hopefully, the tips mentioned above will help you relocate your business without any hassles. As always, keep your employees and customers updated throughout the process. There’s no need for unpleasant surprises!