When you own your own business, there are a lot of decisions you have to make. Especially for brick and mortar businesses, your location is one of the most important decisions that you make. And while it makes sense to stay at the same location for as long as possible to help build up your business, there might come a time where moving to a new location could make sense.
To help you in making this important decision, here are three things to consider before deciding to move to a new business location.
What You’re Trying To Accomplish
One thing you’ll need to think about before you start down the path of moving to a new business location is to really understand what you’re trying to accomplish with your move.
For some businesses, moving might be a necessity to help reduce overhead costs. For other businesses, you might like the new location better than your current location. And for still others, you might have simply outgrown the space you’re currently in.
But before you make your move, which is a big undertaking for everyone and everything involved in your business, see if you can accomplish the same goal without moving. If you can expand to another part of the area without moving your whole business, that might be ideal. So prior to making this big transition, make sure the reason you’re doing it is logical.
The Impact On Your Customers
Not only will moving your business be a big ordeal for you as the business owner, but it can also cause a lot of stress for your customers or clients as well.
Even with just a short move to a very close location, if you don’t do a good enough job communicating your move to your customers or clients, they might not be able to find you. And when they do find you, they might not feel like giving you their business anymore because of the mix up. On the other hand, if you’re moving somewhere that’s relatively far away, you might have to build up a whole new customer base if your current customers aren’t willing to follow you.
The Expenses Of Your Move
Although you might feel like you’ll ultimately be saving money by setting up your business at a new location, the actual costs of moving everything can be higher than you even think.
On top of packing up everything from where you are, reinstating that building to its former state, paying for the actual move of all of your products and equipment, travel expenses for setting everything up at your new location, and more, you could be spending a big chunk of money just to make your money happen.
If you’ve been thinking about moving your business to a new location, consider all that this might entail before you move forward.