Is Your Business Growing? What to Consider When You’re Moving

Is Your Business Growing? What to Consider When You’re Moving

If your business is growing, it means you’re acquiring more inventory, equipment and employees. Often an expanding company needs to move into a larger space. Whether you plan to move across town or from coast to coast, there are critical tasks to schedule as you relocate.

Appoint a Coordinator

Decide who will be in charge of the move – preferably someone with good organizational skills. You could hire a consultant, designate someone within the company or head up the task yourself.

A small moving project team can support the coordinator and help with critical tasks.

Create a Timeline

Determine your key dates, such as:

  • New lease signing
  • Current lease termination
  • Physical move date
  • Grand re-opening

In between these major tasks are a lot of smaller ones. You’ll probably need to add in times for changing your address, turning on utilities, calling your insurance company, and switching your internet service, among other things.

Plan Your Budget

Put together your moving budget, thinking about factors such as:

  • Moving company cost
  • Employee overtime hours
  • Lease termination fees
  • IT setup

Review the budget occasionally to ensure there aren’t any surprise expenses.

Research Your Location

You’ve probably heard the real-estate adage about “location, location, location.” It is essential to keep location in mind as you move your company. Your budget is the main driver, but you also need to consider your customers and suppliers.

Think about a few questions as you look at properties:

  • Do I have ample customer parking space?
  • Can my suppliers get in and out of my building or warehouse?
  • Is the property zoned for my type of business?
  • Do I have room to expand?

Bring your employees along for site visits and include them in your moving strategy. They understand your needs and are an excellent resource. They’ll be there when you need them, too — according to research, companies with engaged employees have a 41% reduction in absenteeism.

Tell Your Customers

You want your customers to know about your move, so be sure to advertise it. Let them know when and where you’re going by posting the information:

  • On your social media accounts
  • At your old and new locations
  • Through advertising channels — billboards, newspapers, television and radio ads

This occasion can be a good time to have a moving sale. It can help you promote your relocation while helping you unload inventory so that you don’t have to move it.

Order Supplies Early

Your new building needs signs, furniture, equipment and inventory. You may be moving some of these items from your old location but be sure to order them well ahead of time if you don’t. This step can prevent unwanted shipping delays or backorders from holding you up.

Register Your Company

Are you moving to another state? You need to register your corporation or LLC. How you choose to do so depends on a few factors, such as whether your move is temporary or permanent. States have varying regulations around forming a corporation or LLC, so be sure to look into the rules in your state before proceeding. You can avoid expensive lawyer fees by filing yourself or using a formation service.

Although there’s a lot of work involved in moving your business, with a plan in place, you and your staff can make sure the move goes smoothly. A well-planned move can help your business continue to grow well into the future.