Relocating your business can be a headache, there’s no doubt about it. But if you look past the challenge, you can see an opportunity. What are the problems with your current location? Bad positioning, awkward layout, too far from your customers—these are all things you have a shot at improving when relocating your business.
Not only that, but it’s a chance to save a little money—can you get a better deal on rent, a workspace more conducive to your business model, a better location? We’ve put together a little guide to make sure you not only save money on your move, but you put your business in a better position—both physically and financially!
1. Leverage Your Network
It’s not what you know, it’s who you know as the old chestnut goes. When it comes to real estate this is especially true. Figure out who you know that might be able to land you a plum space—real estate agents, people in local government, other bigger businesses who might have a spare office floating around—and give them a call. Do you really want to turn up to viewings and put your name down on a list with all the other losers and wait for the agent to call back? I don’t think so, so pick up the phone and get cracking!
2. High Street Branding Opportunities
Is your current location in a back alley, the 50th floor of a building, or an outer suburban business park? You might be missing out on walk-ins and the opportunity to get your brand in people’s faces. Picking a high-traffic area can have significant benefits, including the positive association with well-known brands. Given, if you’re running a meat packing or chemical company this might not be the place for you, but everyone else should take it into consideration.
3. Finding the Right Space Can Be Great for Your Work Culture
Opting for the cheapest rent may save you money in the short term, but is it really worthwhile in the long term? Research shows that an optimal work environment can serve as the foundation for an effective workforce. Happy employees are productive employees, so why not do your best to facilitate this? Of course, different industries have different needs when it comes to space, for example tech workers might prefer an open plan environment, while other industries may require that workers have more privacy. Why not talk to your staff about their preferences before you move? It could have an impact on your bottom line in the long run.
4. Neighborhood Trends
You might get a great rent deal in an up and coming neighborhood, but if the area is in flux you might spend the next 6 months trying to concentrate with a jackhammer outside your window. Similarly, if you have a young, hip workforce, moving to a quiet, outer suburban neighborhood might not fit your company’s culture (and may even result in a loss of staff). Make sure you do your research before deciding on a space.
5. Legal Issues
Does your business handle dangerous chemicals or involve loud noise? Many neighborhoods have restrictions on the types of activities that can be performed in specific areas. Contact the local government or ask other businesses in the area. You don’t want to sign a lease only to realize that you’re trapped in an area where you can’t run your business properly.
6. Negotiate a Long-Term Lease
Where do you see yourself in 5 years? 10 years even? We all know that long term planning is important but can get put on the back burner while we deal with the more urgent day-to-day issues that inevitably crop up. If you’re moving office, now’s the time to sit down and do a little planning. If you know what type of space you’ll need over the long term, it gives you leverage to negotiate a better deal on rent. Landlords love stability, so if they know you’re in for the long haul, they’ll do everything they can to get you to sign that lease—perhaps even giving you a little discount.
7. Move On a Weekend
When you’re planning your move, getting a free moving quote, and getting your staff organized—make sure you schedule your move over the weekend. You’ll be hiring professional movers anyway, and they’re available 7 days a week. So why not make an effort to cause as little disruption you can to your day-to-day operations?
