The number one reason businesses relocate is to gain access to the best talent.
Millions of Americans move every year, and there are usually trends to where they move. Businesses need to be where the right talent for their business is, so they often need to move and follow those same trends.
When planning a business relocation, there are many other factors to consider as well, such as the cost of the move and laws or regulations in the new area. Keeping track of everything when moving your business is near impossible without a plan.
But creating a comprehensive business relocation plan can be overwhelming. There are so many decisions to make and moving parts to keep track of.
That’s why in this post, we’ll go over what you need to do to plan for business relocation to make it as painless as possible.
Keep reading to learn more.
Know the Risks and Benefits
When moving a company, you’ll need to thoroughly consider the potential benefits and risks of moving. You may need to know all of the benefits to convince others at your business that this is the right decision.
On the other hand, you need to recognize the potential risks to develop a plan for what to do if something goes wrong.
Define the Timeline and Budget
One of the most important pieces of your plan should be a detailed timeline of the move. This should include when everything is happening, from moving the first pieces of furniture to when your employees need to begin reporting to the new location.
Your IT team needs to be especially involved in this part so that they have time to move any tech and set it up without any delays in your employees having access to the equipment they need to do their work.
This plan also needs to cover the budget for the move. It can get very expensive very quickly, especially if you don’t have a budget and aren’t paying close attention.
Be sure to figure in all expenses such as hiring movers, transporting expensive equipment, any lawyers or real estate agents that need to be paid, and any repairs or redecoration of the new space.
While it may be tempting to store any extra equipment in a closet somewhere and forget about it, if you really won’t be using it, there are more productive options. There are even businesses and organizations that have built networks for selling equipment; you can click here to learn more.
If they don’t have a buyer, they will also handle recycling the equipment and then provide you with the documentation you need. This makes your life easier and also gets the benefits of recycling.
It’s easy for things to get lost in translation when undergoing a big change. Be sure to make clear communication with your employees, vendors, and customers a priority, so they know about all of the coming business moves.
Make sure your employees know what the relocation means for them and if you’ll be offering any kind of assistance if they need to relocate as well.
Create Your Business Relocation Plan
Business relocation is a massive undertaking and needs to be thoroughly planned out. Having a plan will make the move go much smoother and will avoid any big issues or unnecessary halts on production.
For more business tips, check out the other articles in our business category!