To relocate your office is certainly a daunting task. Making such decisions requires extensive deliberations and considerations. Apart from finding the right office space, hiring the best local movers, and preparing for downtime during the move, you should also commit time and resources to manage the relocation process.
While staying put is an easy and preferable option, some conditions to relocate office impossible to remain in your current office. Below are telltale signs that you should move your office:
1. If the lease is almost expiring
Leaving just before your office lease is due is the perfect opportunity to move out of your current space, even if the space meets your current and future business needs. Unlike moving out of an apartment, you should plan to relocate your office more than two months before the expiry of the lease.
While it depends on the size of your business, planning business relocation takes one to two years. Therefore, you should begin planning and finding new office space at least 24 months before the lease expires.
2. If you need more office space
Cluttered office space is another clear sign that you should relocate office. Lack of sufficient space, especially with anticipated growth, is probably the most common reason businesses relocate. If you’ve been hiring continuously, you should assess the current office space before making new hires.
While purging and reorganizing can declutter the office space, especially if you have physical files that can be digitized, unnecessary cabinets, and non-essential equipment. However, you might consider relocating at some point if you have outgrown the current space. You should consider long-term business growth when searching for a new space.
3. The location isn’t suitable anymore
Lack of sufficient space isn’t the only reason for relocating your office. Your business space should be convenient for employees and current and future customers. If your office space is located far from customers and employees, you should consider relocating the office. If finding a central location becomes impossible, you should consider a place with better transport systems, such as regular bus service or train links.
Your new business space should be accessible to current and new employees and customers. This is especially important if you are planning to make new hires. Business location is among the factors that put off potential hires. As such, you should consider employee demographics before moving. For instance, if you want to attract Gen Z and millennial employees, move to affordably priced locations with buzzing cafes, trendy bars, and restaurants.
4. If you need a fresh start
A dingy and outdated office space might hold back your business potential. You can’t afford to invite prospective customers to your offices if you aren’t proud of them. A questionable space might also turn off potential customers and employees. Unlike before, current employees consider the nature of office space before accepting job offers.
Your business will be judged based on the appearance of office spaces. Clients and employees can make superficial assumptions about your business culture, success, and growth based on basic appearance. While fresh paint, modern furniture, and new lighting can improve its appearance, some offices need more than a simple face-lift. Your contract details can also limit office remodeling, making moving out the only option.
5. If you can’t afford the current office space
Rent or mortgage is probably the costliest business expense. Fortunately, you can lessen this expense by moving your business. While you can negotiate for reduced phone bills and take early measures to make your new space energy efficient, you can’t convince your landlord to lower your rent and the cost of utilities.
Most businesses grow and expand fast, only to come back to reality months later. Businesses also affected by the changing economy and those that moved to expensive locations without evaluating the operational costs, including taxes, should consider relocating to cheaper locations.
6. If you can’t organize departments effectively
Even with sufficient office space, you should consider relocating if the space is poorly laid out for business needs. In most cases, one department has performed better and needs more space for expansion, which isn’t available. If you can’t shuffle without splitting the department or moving departmental employees to inconvenient offices, you should consider finding a new space.
Other office spaces, especially those in old buildings, have awkward layouts. You can’t sustain your growing business if some offices are in the basement and others are on the second floor.
7. If it saves on costs
Saving on business expenses is the other straightforward reason for relocating. You should regularly monitor the rental costs of office spaces in good locations. With the ever-dynamic real estate market, you can get a good deal. You should always search for office spaces with affordable rent if the rent and utility expenses in your current office cost more.
However, don’t be quick to sign the contract if you find an affordable location. You should research extensively to ensure the location fits your business needs. This involves calculating all anticipated costs to ensure that you will be saving significantly by relocating to the new office.
8. If your business has changed
You should consider your current and current business needs continually. Businesses also undergo evolution, which prompts some changes. For instance, if your online store is shifting from relying on third-party logistics service providers to in-house fulfillment, you certainly need more space to accommodate storage, packing, picking, and shipping.
9. If you’ve fully gone remote
Advancing technology and the recent COVID-19 forced businesses to shift to remote work models. While businesses still have physical locations, most companies have embraced remote and hybrid models. If your company has gone remote fully, it is financially and strategically better to close brick-and-mortar locations.
However, before finalizing the shift, ensure that your employees have the necessary training and collaboration tools. You should also monitor customer satisfaction and employee productivity.
10. If you are going brick and mortar
Business relocation is also unavoidable if you are moving from remote or online operations to brick-and-mortar stores. Depending on the nature of your business, you might be forced to open physical locations to meet the growing customer needs. This is common, especially among small businesses that start as online storefronts. As the business grows, you should have a physical location to accommodate more employees and meet logistical and fulfillment demands.
11. Industry changes
Industry changes force even the most established brands to adapt to the shifting trends and customer expectations to stay in business. Moving your business may be a strategic move for your business to meet these changes. For instance, call centers traditionally require large office space for in-house employees. However, modern call centers have switched to remote operations, making open offices unnecessary.
12. To get close to customers
Customer-centric businesses should also consider relocating to get close to their customers. Companies like HVAC service providers should get close to customers to provide immediate and timely services. Businesses that supply essentials to the community should also move closer to customers. For instance, businesses that supply plumbing materials should find a central location to make it accessible to individual customers and local contractors.
Moving your business, even if it involves expansion, will likely disrupt your business operations. While knowing when to pack and go is a delicate gamble, you should prepare adequately before initiating the move. Ensure that you find the right space, hire the right moving company, and involve your employees and customers.
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