Moving to a different office space is an important phase in a company’s lifetime. While growth signifies success, it’s also a time when business owners and employees experience growing pains. Here are some issues to consider when it comes to determining whether the right time to move is now.
Growth. Business growth is the most common reason for moving to different office space. With more space, companies have a more productive environment in which they can increase their workload and accommodate more employees. However, if your business is downsizing, a smaller office space isn’t all bad either. It allows you to reduce your costs by not having to pay for space that isn’t needed. Many businesses are sharing space such as reception facilities with other companies as a means of reducing costs during these tough economic times.
Tough economic times. And tough economic times mean landlords and business owners are working together to better utilize office space. Landlords and business owners have more flexibility when it comes to moving into other available space in the same building. This helps business owners to reduce costs when it comes to moving and any disruption to running their business.
Image improvement. As you consider moving your office it’s important to remember that outgrowing office space doesn’t always have to do with size. When companies mature, so does their image. If your current office space doesn’t suit the look your business is trying to achieve now could be the right time to move. Many small businesses start from the business owner’s home office. But now that the business has grown and secured a solid client base, a home office may not project the professional image you’re after. A business in a commercial area could increase your exposure to the community, attracting more clientele.
Positives and negatives. Before you start packing boxes and office furniture, you should consider the positives and the negatives of a move. Moving your office involves relocation costs and certainly a loss of productivity during the move. Consulting with your broker is a good idea because they can offer valuable advice and be an invaluable resource to help you prepare for your move.
Moving to new office space reinvigorates staff, giving them a fresh start in newly organized office space. An office move can better motivate your employees resulting in an increase in productivity. Moving to new office space gives business owners the opportunity to negotiate leases that are short-term and less risky as their businesses grow. New office space gives your business a more professional look signifying growth and a good reputation to the local community.