It’s probably fair to say that most business leaders don’t relish the idea of a business relocation. Moving your team from one location to another can’t help but be a little stressful, and in some cases it can lead to some fleeting business disruptions.
With that said, office relocation can sometimes be necessary. And, it can often be beneficial. Plus, when you have a commercial real estate developer that’s able to help you facilitate a smooth transition, it doesn’t have to be as onerous or as inconvenient as you might think.
The question is, how do you know when it’s time to pack up and move to a new office space? Here are a few telltale signs.
How to Tell When It’s Time for a New Office
- Your operating costs are just too high. If you take a look at your monthly expenses and find that you’re simply paying too much in rent or utilities, that may be reason enough to start scouting some more affordable office locations in another part of town. In the long run, relocating could save you quite a bit of money!
- Your team is growing. If you have three or four people sharing an office that’s really only big enough for one, that’s a pretty clear sign that you’ve outgrown your current facilities. This is a good problem to have! It means business is booming! And, it may also mean you need to relocate.
- Your team is shrinking. It’s not as much fun to think about downsizing your team… but the reality is, when your company experiences a low ebb and you have to reduce your staffing, it may leave you paying for space you don’t really need.
- You want to capitalize on more foot traffic. Sometimes, you may find an opportunity to move your business to a more bustling, prosperous area… somewhere you’ll have a lot more foot traffic and a lot more exposure. Such an opportunity may be well worth taking!
- You’re ready for a satellite office. Sometimes it’s not a matter of relocating so much as doubling up, starting a second location where you can expand your customer base. Certainly, that requires you to move part of your existing team to a new office space.
As you consider the pros and cons of relocating your team, remember that a commercial real estate company can help you ensure a smooth and seamless process. Kuester CRE is pleased to help with relocations here in the Carolinas, and we invite you to call us with any further questions or concerns. You can connect with us at our toll-free number, 855-723-2500.