Moving offices is a significant stage in a company’s lifetime. It can signal growth, a change in direction and maturity. But if it isn’t managed properly it can be a painful exercise so it’s important to weigh up whether it’s the right time to move.
One of the most common reasons for moving offices is business growth. Companies can simply out grow the space they’re in. Upgrading to a bigger office space allows for a more productive environment and gives you the ability to increase workloads and staff levels. Likewise if your company is downsizing, then moving offices can be one of the simplest ways to reduce costs. There is no point spending money on office space that isn’t needed. It may be wiser to have a shared office arrangement rather than leasing entire premises. This way your company is only paying for the space it uses and can share the costs of services such as reception facilities.
Like many business decisions moving offices can come down to finances. If your company isn’t getting the maximum value out of your current lease, shopping around for a better deal can ultimately save money. Perhaps the landlord is putting up the rent but you feel that the costs aren’t justified then a new premise may be a better financial move.
Outgrowing your office space may not only be an issue to do with size. As your company matures, its image can too. If your current office doesn’t suit the look you are trying to achieve, then it may be time to relocate. This is particularly the case when you’re working from home, it may no longer project the professional look you’re after. It might be the case that you’re holding more client meetings and it’s no longer ideal to host them from your home office. It could also be that your current location isn’t attracting the cliental that you’re after. Simply moving offices could increase your client base.
When determining whether to relocate consider the positives and negatives of the move;
Costs – moving office can be expensive. It involves relocation costs as well as loss of productivity during the move. It’s essential to plan the process, or seek professional advice, so that you’re not losing business while you’re moving.
Fitting out the new premises – particularly if the new office space is bigger than the previous one, you may not have all the appropriate furniture and IT infrastructure. This is where a serviced office may provide the best solution. The space is work-ready without your company having to bare the brunt of the costs.
Upheaval for staff – a new location may not be desirable for all members of staff and could lead to employees having to leave the organisation. Discuss the move with key staff members and see if alternative arrangements can be made such as flexible hours.
Cost efficiency – leasing office space that doesn’t meet all your requirements can leave you paying for things you don’t need. A new office gives you the ability to pay for only the space you use. Shared offices can be an effective way of conducting your business at a much lower cost without compromising on what you need. Relocating also allows you to renegotiate a leasing agreement that is more flexible and less risky, such as a short-term lease.
Gives your business a more professional look – many small business owners start off in very basic premises. A new office space signals to clients that your company is growing.
Equipment upgrades – moving into a serviced office can often be the solution to upgrading your dated IT systems and furniture. Newer infrastructure is already in place so your company doesn’t have to pay the price for having the best equipment.
Reinvigorates staff – a fresh start in an organised and practical office space motivates employees and therefore increases productivity.