Like changing homes, you tend to get a new place when something isn’t quite right or gets a bit too snug. Moving a business usually happens for similar reasons. You’re either looking for a better location to suit your operations, or you have outgrown the current location. Whatever the reason, the shift shouldn’t be taken lightly. Before leaping over a new place, consider the following three things.
1. Understand the Cost Differentials
Moving costs money, especially when you have to tear out or build new, so before you do anything, crunch the numbers. What are your current expenses? List them out and work with financial assistants or planners to understand what it costs you now to get the work done.
With that accomplished, calculate the price tag of the new space. Is it worth the additional money and changes. In addition, you have to think about the added expenses of the move itself. You likely don’t plan to leave things behind. Price out moving companies and relocation specialist Los Angeles. You’ll have to may to have equipment transported to the other venue. Be sure this works within your budget,
2. Be Prepared to Market the Change
Your current clients know your location; make them aware of the move before it happens and send reminders afterward. Then, allow your marketing team to take over, making this an exciting shift. Send email and letters explaining the benefits of the new address. Also, discuss the plan to host an open house once you’re all set up. This gathering permits your regulars to visit the premises and feel comfortable about your new point of contact.
Have new signage created and new business cards. The marketing team may also have a program to gather new customers in the neighborhood and advertise your growth.
3. Keep Lawyers by Your Side
A real estate lawyer could prove useful as you navigate leaving one lease and moving to another. You don’t want to be caught with extra costs or left without a proper spot. The attorney oversees the paperwork, reviewing clauses and expectations for you. In addition, the new building should be cleared, allowing the lawyer to read over any lease agreement or mortgage purchase.
This experienced professional could also look at zoning and environmental laws to ensure your establishment can operate in this section of town without legal problems.
Expanding to a new area is a chance to grow your profit and clientele, making a name for your company. Do your homework first, though. Work with specialists to keep within budget and lawyers to keep you on track and out of harm.