Location, location, location, not just the mantra of property developers - it's vital that your business is in the right place. Your office location can have a huge impact on your profit due to the effect of property costs, business rates, logistics and your customer base. Once you understand all these factors you can decide if you need to relocate your business or stay put.
Set out the reasons that have instigated your plan to relocate. Be clear about the positive reasons to move your business – more space, closer to customers or business partners, a source of skilled or specialised workers, cheaper property costs. Also consider the potential risks such as relocation costs, the loss of key employees who don’t want to relocate, disruption to your services, any increases in the costs of logistics or property leases. Include detailed expenses in your plan so you can make the right business decision based on facts, not just gut feelings.
Your business property
An office relocation can result in a reduction in your overhead expenses if you move to a more energy efficient building (reduced heating, lighting, air-conditioning costs), or if you have more room to house additional equipment and therefore don’t have to outsource so much work. Moving to a less expensive area may result in a lower mortgage or cheaper rent, or a much larger business property for the same costs. A new building can also mean a better working environment with an up to date digital infrastructure and conference rooms.
Consider the attributes of your clients or customers. Are they willing to travel for your services, or would you gain significantly more customers if you moved nearer to your main customer base? Would it affect your customers if you relocated to a cheaper area further away? It is no use saving money on rent or property if you then lose most of your customers and have to rebuild from scratch. Moving to a new location may make it easier for new customers to find you and for existing customers to visit you, leading to higher sales figures.
Consider the cost of your logistics. Could you save substantial amounts of money in transport or delivery costs if you moved to a different area? Would that be worth any potential increase in rent or property prices? It may be possible to decrease your delivery costs or shipping time to customers if you pick the right location.
What about employment costs? Certain parts of the country demand higher wages than others. If you relocated to a cheaper area could you make savings in your wage bill? Or if you relocate to a more expensive area, like London, would you also have to dramatically increase your pay structure to attract the right staff? A move to the right area may help you attract better employees and keep them longer.
Once you’ve decided that it’s the right time to relocate your business and have found the right property, then it’s time to call JamVans! We will send one of our experienced surveyors to gather your requirements and provide you with a quote. We’ll assign you a dedicated move manager who will devise the most efficient and cost-effective way to carry out your commercial relocation that minimises down time for your business.