Just like any other change – the idea of moving to a new location can be daunting.
Generally speaking, people aren’t opposed to change nearly as much as they are opposed to change they didn’t think of.
Moving your business is a big decision for your company, but it doesn’t have to be one that interrupts your normal flow of business, especially if you plan and prepare well enough in advance for it and do your due diligence on the best possible place for you to relocate to.
In Gartner’s report , a typical business will undergo 5 firm-wide changes within 3 years. And so, in order to grow your business and stay ahead of the competition, office relocation is somewhat inevitable.
Here, we list 5 most common reasons why to relocate your office.
REASON #1: IMPROVE YOUR BUSINESS GROWTH
The overall demand for your services/products may be thinning. This doesn’t necessarily mean there’s anything wrong with WHAT you offer but WHERE you offer it. From time to time, eager business owners commit to a location too quickly before understanding the environment and local dynamics.
The key in choosing the right location is to understand your target audience, the dynamics of human behaviours.
Research, research, research. Choose wisely and you can really help your company’s growth.
REASON #2: GO WHERE EMPLOYEES & TALENT IS
Great leaders know, that it’s the employees that make or break their business. Finding the right calibre is no easy task. That’s where the right location can bring you the best of the best and see your company thrive even more.
Immediate reaction may be to move closer to major cities, however that may see your real estate costs rising in return.
Research the demographic profile of candidates and their backgrounds.
Consider moving to an area with a higher percentage of employees in your particular field. But be wary of multiple companies there are similar to yours and most of the talent is already employed.
REASON #3: FAMILY AND THEIR WELLBEING COMES FIRST
Our personal needs and wants change throughout our lives. The growth and success of your business is very much dependant on your personal circumstances.
Naturally, we want to go where our family is at its happiest. And as a business owner, you have that opportunity to relocate to a place where you can see yourself and your family thrive, in an environment that suits your family needs.
REASON #4: INCREASE YOUR MARKETABILITY
Are you targeting the right demographics? Your business relocation could result in greater exposure of your service/product, beyond social media and paid campaigns.
Relocating to another area where your product will have access to a large enough market to support your business is another one of the biggest reasons why a person might relocate his or her business.
Find new opportunities through collaboration with other local businesses. Or perhaps be part of local events that could see your products increase in demand.
As we mentioned above, a change is inevitable. Your business strategy will not look the same in 2-3 years time as it did when you first started. Your business model may have changed and, as a result, your current location no longer serves its purpose.
REASON #5: REAL ESTATE COST
Businesses located close to major metropolitan areas pay the unwanted price tag. The real estate cost is heavily impacted by the surrounding real estate market values and the economy.
Let’s face it, rising real estate cost is a good enough reason to relocate and often the last straw that you and your business can take in order to keep it afloat.
You can significantly reduce your overheads and maximise your assets by seeking a cheaper location with better rent incentives.
And this is where Omega RE comes in.
Based on your specific criteria, we’ll find suitable properties and make you aware of off-market opportunities that meet your requirements. You can leave dealing with landlords, agents, and third parties to us, so you can concentrate on your business.
For more information about how we can support you on your relocation journey CLICK HERE
We are here to answer any of your office related questions and help to navigate you through your real estate changes with our bespoke approach.
T: 02382 355799
Nella Pang, Director
T: 07738 625 431
Jonathan Trice, Director
T: 07725 900 415