Is it time to start shopping for a new building to accommodate your growing business? If so, congratulations! Well done. In today’s business climate it isn’t easy to start and grow a business. In fact, it can be downright difficult. The fact that you’ve found a niche, successfully filled a need, and done this consistently to the point that it’s now time to start shopping for a new space is no small feat.
To help you navigate this difficult transition, and avoid many of the most pitfalls inherent in the process, I’ve put together eight considerations to keep in mind during this transition. Spend a little time thinking about each one before you start your search. You’ll not only ensure that you’re addressing all the aspects of a move, but doing so can also help make the process as smooth as possible.
If you play your cards right, your new space could even contribute to a healthier bottom line for years to come. So take some time with this list before you sign on the dotted line. You’ll be glad you did.
Before you head out and begin looking for a new building for your business, keep these 8 considerations in mind.
Change is disruptive
People dislike change. Your employees are no exception. The change inherent in moving your business is going to ruffle some feathers. Be sensitive to this fact. Stay ahead of it by communicating openly and honestly about the change ahead. You’ll be doing yourself a favor if you include your employees in the conversation. While you are the ultimate decision maker, your employees want to feel like their concerns are being heard. Lend an ear. Show them you care about the issues they bring up. This is all you have to do. Just remember, the key to successfully managing change in your organization is to get it out in the open where it can be openly discussed.
How will the new commute affect my employees and my clients?
I know what you’re thinking, “How on earth can I satisfy every employee and client in this new building acquisition?” The answer is, “you can’t.” Regardless of the space you find, you’ll never make every employee, or every client happy. This doesn’t mean you should disregard this advice. Believe me, this is an important factor. So it’s good to consider this when searching for a new location for your business. While you won’t be able to make everyone happy, you should at least know what the ramifications of moving your business are.
Is there ample space for future expansion?
Think about the future of your business. Is there enough room in the building you’re looking at for future expansion. Moving your business is a costly endeavor. You want to avoid having to do it again in the near future. Take the time to do some staffing projections to get an approximate idea of just how much space you’ll need in the future. Then plan accordingly.
Does the space provide plenty of natural light?
This is a big one. A number of studies have concluded that spaces with plenty of natural light significantly improve employee productivity. Increased productivity means higher profits. Like I said, it’s important. If possible, choose a building with plenty of natural light. Additionally, try to find a building with easy access to the outside. This will give employees the ability to get out in the fresh air on breaks and lunchtime to regenerate their mind. A fresh mind also means more productivity.
What’s the parking situation like?
Are there enough parking stalls for your current and future employees? Asking this question may seem like a no-brainer, but you’d be surprised how often it is overlooked when searching for a new space.
Proximity to restaurants and other services:
Are there restaurants and other services close by? How about medical and dental offices? What about auto mechanics? Grocery stores? Choosing a location with the places your employees need to use during the day will save them from travelling across town for these services. This will allow them to be more productive.
Will you need to hire professionals?
Chances are, you’ll need to bring in professionals to assist you with certain aspects of this transition. Will the new space need to be renovated? If so, you’ll likely need to hire an architect, space planner, and contractor. If you do need to hire a contractor, speak with a construction attorney. Ensure you have everything on paper and always work from a signed contract. Doing so will help you avoid disputes between yourself and the contractor down the road. Disputes can be costly from both a monetary and time standpoint. Do your best to avoid them at all costs. Before you talk to any professional about your renovation however, talk to your property manager. These services may be included in your lease agreement.
Does the building meet federal and state building code regulations?
Inspect the building from a worker’s safety standpoint. Is everything in good working order? Are there adequate accessible parking stalls? Are sidewalks and stairs in good working order? Do the interior spaces meet federal and state building codes? Ensuring your new building is up to code and safe will help you avoid asking the top 10 questions about worker’s compensation cases.
Finding a new building or space for your business doesn’t have to be a major headache. Just be sure you take some time before you begin your search to understand the considerations above. Keep them in mind during your search. As with anything, the payoff is in the planning. Good luck, and again, congratulations!
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