Moving your business: A checklist
Is your current lease up? Are you expanding? Are you moving closer to home? Whatever your reason for moving your business to a new location, there are a few things you need to consider before the transition. It’s not quite like moving to a new house, where you only need to remember your belongings and to lock the door behind you.
Here’s your checklist for moving your business to a new location.
1. Consider whether you want to buy or lease
Determine whether buying or leasing a new property is best for your business, and do it before you start searching for a location. The most important consideration in this instance is whether or not your business is still growing.
If you’re just starting up and foresee some growth over the next few years, then it would be wisest to lease, since you may soon need more space, and buying a space you might “grow into” is just a waste of capital.
Conversely, buying a property gives you the freedom to do with it what you choose without needing a landlord’s consent. It also provides your business with a very significant asset, and it can actually free up working capital if well-financed.
2. Build an action plan
With the input of your employees, create a timeline that will allow you to move in a timely fashion without unnecessarily stressing everyone out. Decide when large objects will be moved and prepare well for those days.
You also want to ensure that internet and phone service is set up in advance or at least at a time that won’t interfere with productivity. The idea is to have everything run so smoothly that the transition causes no real downtime for your business.
3. Talk about it
It’s important to communicate openly and often with your employees. Everyone should be on the same page when moving to a new location so that there are no surprises. This will help nip any potential issues in the bud so that the final move can be made seamlessly.
Open communication will also help allay any undue stress to your employees. The move may increase their commute or make picking up their kids after school more cumbersome, so providing advance warning and progress updates is important.
4. Let everyone know
Just like changing your personal address with your credit card companies, utilities, family, and friends, remember to let your vendors, customers, stakeholders, and any other pertinent organizations know about the move.
It’s also very important (especially if your business relies on walk-ins) to change your business address on Google. Most people will turn to Google Maps to search for your address, and if it’s wrong, they won’t find you.
5. Do your research
Make sure your location fits the goals of your business. If your business operates with quick transport needs, the centre of a city isn’t the best choice. Likewise, if you need space for loading docks that’s near a highway or even the US border, you’re not going to get that kind of access in a busy retail area.
It’s also a good idea to inquire about any renovations that may have been done to the building to ensure everything’s up to code. Go to your employees for input. Where you work can have a significant effect on morale. Strike a balance between serving your customers and your people.
Are you looking to move?
If you’re looking for a new location for your business, consider one of Carman and the RM of Dufferin’s business parks, which features open acres of land to be developed or pre-built complexes ready for you to move into. We have excellent industrial access, with loads of room, quick access to major highways, and multiple options available to fit your business and its goals.