Moving a company whether small or big is not an easy task. It entails complex logistics analysis and thorough planning. There are many different reasons why a company would want to move its location such as; to increase production, accommodate long-term growth, get closer to customers or raw materials, unfavorable conditions in the current location, or maybe to enjoy a nicer neighborhood.
Whichever the reason is, the major focus is to ensure a successful move for the good of the business. Here are some tips to consider when moving your company to a bigger location.
Do your homework thoroughly
Company owners often oversimplify moving a company from one location to the other and all the little details involved. Understand why you are moving, where you are moving to, how long it will take to move, what effect will it have on the growth of your business, means of moving every little thing including employees, and anything else involved. Sit down and do your research and if possible hire some expert to help you analyze every detail. Even the miniature details like electric lines and internet options in the new location will need to be sorted out before moving to ensure there are no surprises or time-wasting when you have already settled.
The space you choose might be bigger but not right for your company. The only way to minimize the risks of choosing a wrong space is assessing as many relevant hard facts about the space as possible. Things like traffic numbers, proximity to major highways, property taxes, and building insurances, landlord’s reputation, the presence of adjacent stores and businesses, are all important details to evaluate before moving.
Have a clear budget
This is another crucial matter. Underestimating all the ancillary costs in moving your company is a highly likely effect of poor planning and incomplete homework. The total cost of moving everything should not surprise or overwhelm you at the end of it.
This is because the whole process is funded by the company and if the company doesn’t have enough it may be financially overwhelming in the long run. Most people focus on the major costs of moving i.e. buying/ leasing cost and fixture-moving cost forgetting other ancillary costs.
A bigger space definitely requires some bigger fixtures and it is also important to put that into consideration. The time it takes to fully move the company should also be accounted for in terms of monetary value since there will be losses in one way or the other during that period.
Let everyone know you are on the move
When a company moves from one location to the other, it is likely that some important section of the company will not move with it. You are likely to lose most of your customers especially if it is a retail business and you are moving to a distant location. To avoid this, it is necessary to make it known to your customers. If possible, take time to market the change of location. This will help you know the number of customers you are likely to lose and how you can satisfy them even from afar.
Customers are not the only people you are likely to lose. Some employees could be unable to move with you maybe because they are attached to where they live and convincing them to leave the place is an uphill task. In this case, you should know who is with you and be prepared for replacements.
Ensure thorough execution of your plans.
When Lawrence Bossidy was made the CEO of AlliedSignal Corporation, he realized that the company had very bright and hardworking people, but they were not effective. They didn’t place a premium on getting things done. Besides planning, having enough money to move and doing everything else, ensuring proper execution of every laid plan is your main job. This is the hidden secret to a successful moving of your company.
Thus, the process is clear; have enough money, assess everything, inform people, plan well and execute thoroughly. With this, the move will be rewarding and stress-free for you and everyone else involved.