Growing Business: What You Need To Consider Before Moving To A Bigger Space

Growing Business: What You Need To Consider Before Moving To A Bigger Space

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There comes a time in every flourishing business’ life when expansion is necessary for continued financial growth. Though an exciting time, it does come with a big responsibility. Before deciding on a future space, make sure to consider these important factors.

Space

Your company needs to move because it needs more space, making this prospect the most important. Go for a place that’s too big, and you’ll waste money on unused areas. Go for a place that’s too small, and you defeat the entire purpose of growing your business. To begin, find out how large your current space is. For the best results, speak with a civil engineer about your plans. They will then be able to put a size to this expansion, giving you a range of spaces that would be ideal for your new office.

Location

Sometimes, though, space isn’t the deciding factor in a move. In fact, many business get their start in a cheaper section of town, waiting for the day when they can afford a better strip of land. Before settling on an area, make sure where you choose is easy to reach, has good visibility and is convenient for your employees to reach.

Infrastructure

As you walk through the various potential spaces, pay attention to the capabilities of the building. You know you’ll need plugs, an internet connection and a good phone line, but don’t forget to pay attention to lighting and restroom design. Just because a building looks great and comes at a great price point doesn’t mean it’s fully suited to fit your company’s every day needs.

Lease

Once you find a great spot, it’s time to sign the lease. Unfortunately, this is a legal document that could potentially send you searching for another location. Leases that aren’t flexible or those that don’t offer contingencies should something go wrong with the building should be avoided. If in doubt, hire a lawyer to go over the language with you.

Building

If you decide to buy land to build your space on, make sure you hire the best civil engineer you can find. They are trained to plan and oversee construction so that it adheres to city codes while still achieving the design you want. Someone with an online civil engineering master’s degree has the experience and knowledge needed for a project like this.

Moving should be exciting, especially when it means growth for your business. Keep these five things in mind as you search for a new spot, and you’ll eventually find the perfect upgrade.

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