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What to Know Before Moving Your Business Location

Eileen O'Shanassy

May 16, 2017

Changing business locations is often done as a matter of necessity. Your current space may no longer be large enough for your needs. Perhaps the rent has escalated at your current space, and you need to find a more affordable place to conduct business. Before you make a solid decision about moving your own business to a new location, carefully review these important factors.

The Impact on Your Budget

Your budget can be affected considerably by your relocation plans. For example, you will need to pay numerous one-time fees related to moving. These may include deposits, cleaning fees, make-ready or buildout fees, moving service fees and more. There may be a fee to transfer your business Internet or phone service, utilities services, and more. You may also have to pay for real estate services, such as a commission to a leasing agent. In addition, there may be ongoing adjustments to your future budget. For example, your utilities costs may be higher in a larger facility.

The Availability of Services

Before you decide on a location to move to, consider if critical services are available. For example, not all business Internet and phone service providers serve every area. If you prefer or need to work with business internet plans in San Angelo or other cities, ensure they offer service in the area before you make a move. This may not determine if you move or not, but it can help you to determine where you may relocate to. 

The Effect on Your Customers

A final and important factor to consider is how a relocation will affect your customers. Your customers may largely visit your location because it is convenient to their home or easy to access. They may not be entirely sold on your brand or products and if you relocate too far away or to an inconvenient location, they may simply decide to start doing business somewhere else. Your move should not inconvenience current customers, and it also should promote new business. For example, the new location may be highly visible, and drive-by traffic may stop by. 

Moving into a new space can play a major role on your business’s future. It can impact income potential, expenses, availability of necessary services, and more. As a business owner, you should carefully analyze the need to move. If you decide that the need is critical, your next task is to determine the best location possible. 

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