It’s a huge ordeal to move into a new facility. Manufacturing leaders have spent many long nights worrying about the details of this kind of project, so I’ve decided to provide a guide on what to do when you’re moving business facilities.
1. Plan Ahead And Relay On Your Budget
Make sure you give yourself enough time to plan, rethink and eventually schedule your business moving to a new location.
Here are some questions you’ll want to know the answers to before moving the office:
Do you have assets requiring special handling (how many of them)?
How many of them have special access or security restrictions?
Is continuous operation required for some assets?
Can in-house staff assist with the business relocation, or will it be (completely) outsourced?
According to IFMA, business moves smaller than 50,000 square feet usually take six months. Larger facilities can take at least 12 months, and complex facilities (think hospitals and data centers) can take up to two years.
Your budget can also help you define business relocation plans and consider location options. When deciding on the location, be sure to take into account accessibility for clients and suppliers, parking and public transit, convenience for shipping and receiving, nearby services, zoning issues, time for commuting, and more.
2. Find The Building: Location And Space Needs
Overlooking staff needs is a common mistake. Be sure to seek employees’ input on locations. Have them visit prospective sites and get their buy-in for the move.
Run thorough research on the location and space needs for you, your employees, inventory, etc.
Talk to your employees, customers, clients, and suppliers. Good communication is the key when it comes to smooth business relocation and transition. Be sure to share plans like this often, just to stay clear about what they can expect along the way.
3. Hire A Specialist To Deal With The Regulations
Ant There Will Be Regulations.
Moving a business space is no piece of cake. Not that only includes the relocation of inventory, but you have to make sure that you are legally supposed to occupy some new space.
You need experts to achieve the best results. IPG is well-prepared to handle any business facility moving project.
We have years of experience, recognize the challenges involved, and know-how to overcome them in a seamless manner.
The first thing to do is to meet with our commercial services representative who will determine the scope of your facility move. This way, we can provide a solid estimate of what the complete move will likely cost. We can also put together a unique moving plan for your business.
You can find out something about that here: Business Move Checklist
We Help You Understand Your Lease Obligations
In other words – try your best not to act alone; consult with a professional about the needs, rights, and obligations to your landlord and the chosen building.
You have to establish what’s best for your business, especially when deciding if buying or leasing is better for you.
There are many different lease options and factors to consider, but in general, if you run a small or young business, with little working capital, leasing may be a better option for you.
On the other hand, buying an office space is often less costly than renting. It can be an especially good option for more established businesses with ample working capital and those with particular space needs that require extensive renovations.
Want To Negotiate Effectively? Here’s What IPG Knows
It’s important to negotiate effectively to get a favorable lease or purchase agreement for the new business space.
Also, be sure to surround yourself with the right team of commercial real estate advisors.
For leases, you shouldn’t just sign whatever document the landlord gives you. Carefully review all costs and responsibilities such as utilities, property tax, insurance and maintenance.
For a purchase, do thorough due diligence. This could include getting environmental and building condition assessments, getting an appraisal, requesting and reviewing vendor documents, past utility and repair bills, etc.
Also, leave enough time for the bank to review the transaction before it approves financing; that often takes six weeks or more.
4. Think Outside The Box: Advantages Of Warehouse-Like Facilities
Decreased costs and new opportunities are the most important aspects that your company needs to gain from moving. And for that – no place like a warehouse.
Having a custom-made facility goes beyond the building’s interior. External spaces such as parking facilities can also be planned and laid out to further improve the operational capacity of your new business location, a.k.a warehouse.
In addition, the costs of your technical requirements can be included in your rent so that you do not have to bear any additional related expenses.
A long-term residency in a warehouse, or in a warehouse-like office location also means comfort. No need to shift logistical operations. This kind of switch up frequently helps companies make considerable operational savings and accelerate their business growth.
With this in mind, below we have drawn up a brief set of arguments in favor of business relocation in a warehouse-like facility:
- Operational costs go down
- You will save on service charges (maintenance, roofing, insulation…)
- You will pay less property tax
- Logistical operations are made easier
When choosing a new business location, you can have a building built according to your technical requirements, thereby making the best use of your operational space based on your experience.
Whatever decision you make, and proceed to execute, be sure to follow my brief guide. It’ll help you stay organized and put the idea of working with some young, successful people, ready to work for your goals as if they were their own.
