Business Location: Expansion Factors

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Expanding your company will normally include the factor of “scaling up,” which will require a lot of forethought and planning to get right. After all, there are many different concerns we all have when we head up to the next rung on the ladder. We will have to acquire new technology and staff, and we will have to work on how best to use the location we have, or upgrade to a new premises. The task that comes with changing your business location means that you need to take into account many other issues, and these are:

Is The New Location Profitable?

Businesses that require a lot of “foot traffic” need to be in a centralized location to thrive properly. Wherever you wish to place yourself you need to know if the location you wish to go to is conducive to good business, and if the land is cheap, should this ring alarm bells in your head? The closer to a city center you go, the more expensive a plot of land will be. Weigh up the pros and cons about where you need to go.

Will I Lose Clients If I Move?

This is a big worry for any company that appears to “up sticks” and leave, will the fact that you’re moving compromise the customer and client base? The reason you are moving is that you are upscaling, so there is more demand for your services anyway. If you are that concerned, look at the local markets and see if there is anything that you are going to contribute to by being there. If you move to a place where there are similar services being provided, you will have to work harder to get customers to defect.

What About The Building Structure?

A lot of old buildings are not able to cope with the technological demands of the 21st century. Your options are to source out buildings and rent with a company that provides that service or you can aim to build your own framework that caters for your own business needs. If your company wants to be dynamic and fresh with standup desks and space for arcade machines, the open plan offices are paving the way for ultra-modern chic. Utilizing commercial construction by TPM Builders or another company that you can work with personally to lay out exactly what your long-term plans are for your building so you can modify it to your own needs.

Is It Commutable?

You are going to have staff members traveling to you, and if you are a startup company that relies on the welfare and reliability of staff, you have to make the most of a location that is easily accessible. Industrial estates and out of town enterprise parks are only accessible by car. The best way around that is to either organize a car share with your employees if cost is an issue, or going for a location that has decent access to rail links. Rail links are increasing and there is a bigger demand for high-speed rail services and more trains, so it would be a sensible option.

 

Business Location: Expansion Factors