Some businesses are lucky enough to set up shop in one spot and stay there forever, but many other businesses need to move, whether it’s for better financing, location, or growth goals. Getting through a personal move can be taxing enough, so moving an entire business is a different level entirely. However, a move can be the best decision you make for your business, opening up new and exciting opportunities that were inaccessible before. If you’re thinking about moving your small business, here are some things to consider.
1. Business Operations
It’s rare for small businesses to keep operating during a move. At the very least, things will slow down and production or services will likely pause. Unless you have the funds and the manpower to get set up in a new location before packing up the last one, you’ll likely take a small break. Finish up orders you have, and put new ones on pause. Make sure you let customers know you’re moving! Even if you’re no longer local, they might still want to support you. Since many businesses can operate or ship products anywhere in the world, distance isn’t as much of a barrier as it once was. The voice of the customer is important, so posting on social media pages about the move well in advance helps to set expectations and keep regulars happy.
2. Location
If you’re moving for personal reasons, your small business may not be the priority in choosing a location, but you shouldn’t forget about it entirely. If you don’t operate the business out of your house, you’ve got some big decisions to make, like leasing or buying a new space. This is an excellent opportunity to find more warehouse space or get new equipment. Just make sure you do some research to see if you can reach your target audience in your new location. If distance isn’t important, look into shipping options and local suppliers. Being in the middle of nowhere might be cheaper, but it can make operating a business more complicated.
3. Employees
If you have employees, they need to know about the move as soon as possible. If they can’t follow you, they need enough time to find employment elsewhere. You can also consider letting some positions go remote. If you’re not bringing any employees with you, you might need to factor in hiring to your moving plan. Advertising for open positions, interviewing, hiring, and training all take a considerable amount of time. If you’ve never had employees before, this new location could be a great opportunity to hire them for the first time.
4. Budget
Your budget is likely to be the biggest factor when planning your move. Not only do you have to account for all the little things that are easy to forget, but you also need to consider the disruption in cash flow from pausing business operations in the meantime. You may be able to secure additional funding to finance this move and help things go more smoothly, but this will also need to be planned well in advance. In the meantime, you can consider potential properties and upgrades while reviewing your financial history and assets.
5. Moving Companies
Moving companies can be expensive to hire, but they can also take a lot of stress out of the process. You might be tempted to save some cash here, but there are many reasons why you shouldn’t go right for the cheapest company you find. A bad moving company might lose or break equipment, be late for packing or delivery, or be unable to set up the items properly. Make sure you check out reviews, ask questions, and book early.
Moving a small business is a big step, but it can also be a great opportunity to expand. By planning ahead, you can find the perfect new location and get your business back up and running in no time.
