When is the right time to move your business?
PallMallMoving office is not a small decision to make. It could have a substantial impact on your businesses' future, and potentially make or break you over subsequent years. Because of this, we've put together this list of the key questions to ask yourself when you're considering moving to bigger premises.
Do you need to move due to employee numbers?
One of the most common causes for moving is a sudden need to increase your number of employees, whether due to organic growth or taking on a particular contract. Happy employees are productive employees, and cramped employees with no room to work aren't going to be happy!
Do you regularly host clients?
In some industries, regular meetings are standard. Remember: your office is a key part of your marketing. If your current premises is cramped, gloomy and not all that nice to work in, you don't want to be inviting your clients to it, especially not three or four times a week.
Does it reflect your image?
Your office doesn't just reflect how your clients see you; it affects how the whole world sees you. Does it reflect the image you're trying to present? If you've created a business that's based around appealing to cosy families, then that's fine: having a pleasant looking, smaller office will be fine. If, on the other hand, you're marketing yourself as cutting edge and on-the-pulse of your industry, you'll also need an office that reflects that.
Do you have retainer customers?
If you're planning to increase your monthly payments, then it's wise to have some customers on retainer. You need to be able to virtually guarantee that you'll have income coming in for at least the next few months. If your business tends to veer from feast to famine, it's unwise to make any big moves: you may find yourself quickly unable to make the payments.
Will it enable you to maximise your potential?
We've so far looked at the more negative questions (though they are legitimate). The flipside of this is asking whether you have a legitimate chance to thrive in your new premises. Will moving premises enable you to fulfil your biggest contract so far? Or to expand into a new sector where you know an opportunity is waiting? If you know you've got a chance to really grow, and you've found the perfect office, don't be afraid to go for it if the rest of the boxes are ticked.
If you are planning a major office relocation, our dedicated team of property professionals boast three decades of experience in the commercial property industry and can provide you with the guidance you need to complete that exciting move. Call our friendly team today on 020 8986 7221 to discuss your options.
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