For many home-based business owners, knowing when to move their base of operations can be a difficult decision to make. There are so many benefits to working from home that it can be hard to appreciate the advantages to be gained from moving somewhere new. If you’ve found your home has been taken over by your business, and there’s nowhere to turn for some respite, it could well be the time to look for somewhere new. If your business is successful, it’s inevitable you’ll get too big for your home. Before you sign on the dotted line for your new premises, here are some things to bear in mind.
Why You Might Need to Look for New Premises
- Expansion: If the number of members in your team is growing, there will come a time when meeting in your living room is no longer viable.
- For Your Clients: If your clients visit on a regular basis, it might be beneficial if you have business premises for them to visit, rather than your home.
- More Productive: Some people work better when they’re not being distracted at home.
Things to Consider Before Moving Your Business
The new location of your business is going to be important in terms of reaching the market, getting labor, cost, cash flow and quality of life. Each of these will have a different level of importance depending on the type of business you’re running. If you’ve outgrown your home and are looking for larger premises, you’ll need to use the services of a number of different contractors. For example, MSC Electrical, a commercial electrical services company will be able to help with your relocation.
Make sure your new premises provide you with ample room to grow. After making the move, you don’t want to be looking for more new premises because there isn’t enough space.
Check that the providers and services you use have coverage in your new area. If your new premises make use of keypads codes or passes, make sure your providers are informed of the new requirements.
Any new space you choose should inspire and excite you and your employees allowing them to move forward and achieve new heights for many years to come. Don’t be afraid to get out a paintbrush and add a few special touches.
Before you move, make sure all your clients are notified as well as all your business contacts. Include your new address on your website.
With the additional space, you may be able to invest in some new equipment or technology that would have been out of place in your home. A good place to find out the latest advances is to visit a trade show and find out whether you can take advantage of the new innovations.
It’s difficult to know how much a relocation will cost, but it’ll pay to be prepared for surprises. Your new business space may require some critical repairs before you can become fully operational, so an emergency fund is crucial.
One last tip is to shop around before you commit yourself and do your research.