Outgrown Your Business Premises? Here’s What To Do Next

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Are you one of the fortunate ones that have seen a boom in business in 2020? Maybe the COVID-19 pandemic hasn’t affected your business in any negative way. Maybe you have been one of the businesses that have been able to – or has had no choice – adapt by switching up their manufacturing process and producing something new to help with the fight against the virus. This is how many manufacturing businesses stayed afloat during the height of the pandemic, buy turning their hand to making PPE or ventilators.

Whatever the reason for your growth, if you are have outgrown your existing business premises, here are some things that you need to take into consideration.

Are there any production processes that can be done off-site?

Have a look at your production process and see if any of it can be outsourced to a third party and done off-site. While having something such as Plasma Spraying done elsewhere will obviously cost you, it will be a lot less expensive than moving premises or extending. It also gives you the chance to focus on other aspects of your process. 

Sometimes moving to a whole new site is necessary or can be the cheapest option, but it can also be a huge upheaval. You have to look for somewhere new that is big enough, that is suitable and in the right location, and finding something that does all of those and is within your budget can be a challenge. If this is the case, why not look at expanding your existing premises? Of course, there are other things that need to be thought about – can your business cope with the disruption that an extension and building work can bring? Is the cost of the work going to weigh up positively in the long term against the cost of moving?

Is the location suitable?

For this point, we are going to assume that you have made the decision to move rather than outsource or expand. One of the most important things to think about when moving is the location. 

Location is important for many businesses. It may be that you need to be highly visible., so need to be right next to a busy highway or in the center of a major city. Maybe you don’t, and you can take advantage of more space and lower rates on an out of town space. However, consider whether potential customers, vendors, and deliveries/pickups can get to you easily – access via major transport routes is a necessity. Also, consider your existing staff. If you are thinking of moving, you need to think about whether it is still in reasonable traveling distance for them and if they can access the site easily via public transport if necessary. If you don’t think about this, you could find yourself hit with the additional costs of hiring a new workforce and training them all up.

Making the decision to expand or move can be an exciting one –  it usually means business is going well and that’s a great thing. However, weigh up the pros and cons of all options before settling on something.

Moving Your Business Into a Building? Here’s What You Need to Know

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If you’re a small business owner and you’ve started to see continual growth, that’s something you should be proud of! Small businesses are currently playing a huge role in overall economic growth in the U.S, and they have been for a while. The first three quarters of 2014 alone saw small businesses add 1.4 million jobs

With business growth, however, often comes the issue of “outgrowing” your current workspace. Whether you started your business from home or you’ve always had a small office, it’s never a bad thing to upgrade – especially if you’re adding more employees to your operation. 

If you really want to move forward with your business, you’ll need the right space to do so. But, moving to a new location for the first time can feel overwhelming. With that in mind, let’s look at a few tips you can use to make the transition to a new space easier on you and your employees, so you can continue to grow and achieve success.

Set a Budget

As you start looking at new spaces, it’s important to have a set budget in mind. While you consider the cost of the building itself (or the monthly rent), don’t forget about other fees and hidden costs you might face. 

Additionally, it’s important to think about any upgrades or renovations you might want to do and include those in the cost. Things like upgrading appliances, putting in new carpet, using roof coating, or even just painting and remodeling can all cost money, so include renovation factors into your budget before you make a final space decision. 

Research the Right Locations

You might think you’ve found the dream location for your business, but there are many things to consider aside from the size and functionality of the building. 

Will it be easy for people to get to, including your employees, suppliers, clients, etc.? What is the crime rate in the surrounding neighborhood? Are there any other businesses nearby? When you move into a building, you want to become a part of your community as quickly as possible, just like when you move into a new home. If the area around that building feels like a ghost town, it might not be the best place for you. 

Give Yourself Plenty of Time

Moving is stressful, no matter what. Even if you have everything perfectly organized and you have a timeline in place, it’s not easy. So, give yourself plenty of time to transition from one building to another. 

You might even consider a “staggered” move so operations can continue in your current business space while you slowly integrate more employees and equipment into the new space. It can make the move easier for everyone and won’t feel as overwhelming. Staggering your move will also have less of an impact on workflow, so you’ll still be able to meet deadlines and work directly with your clients without feeling disrupted. 

Congratulations on outgrowing your initial business space. Keep these tips in mind to make your growth easier, so you can focus on an upward momentum, instead of getting tied up in the details of a building.