15 Business Relocation Consideration Questions
Sometimes, the grass can be greener on the other side—at least when it comes to your business location. If you’re daydreaming about a new zip code that brings more opportunities, efficiency, and growth, it’s time to weigh your options with a healthy dose of reality. Relocating a business is like playing chess; you need to anticipate every move. But don’t worry, we’re here to help make that process a bit easier with key questions to ask yourself before you make the big move.
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Business Relocation Consideration Questions
1. Why relocate?
Is it the market? Lower costs? Strategic positioning? Pin down your core reason—it should be compelling enough to justify the resources you’ll commit.
2. What does the local talent pool look like?
Consider the skills and expertise you need and whether the new location has the workforce to support your vision.
3. How will the move affect existing employees?
Be transparent. How many of your current team are you hoping will move with you? Offer support and consider their needs too.
4. Will this relocation affect customer accessibility?
If it makes it harder for customers to reach you or affects delivery times, think twice.
5. What are the costs?
Crunch the numbers! Beyond moving expenses, consider increased or decreased ongoing operational costs.
6. What about the new market’s competition?
Do your homework on who’s thriving there and why. Can you carve out your niche?
7. Is the infrastructure suitable for your business needs?
From internet speeds to transport links, make sure the new digs will help—not hinder—day-to-day operations.
8. Can you predict any legal or zoning issues?
Different places, different rules. Take no chances—consult the experts.
9. Have you considered timing?
When it comes to business, timing is everything. Choose a period that minimizes disruption.
10. How will taxes impact your business?
Taxes can make or break a business. Research and plan for any changes in tax obligations before you become neighbors with the taxman.
11. What’s the cost of living?
This can affect both your business costs and your team’s willingness to relocate. Keep everyone’s best interests in mind!
12. How robust is the supply chain?
Analyze the local supply chain for potential partnerships or hiccups.
13. What incentives does the new location offer?
Tax breaks? Lower energy costs? Know the perks that come with your new address.
14. How will you communicate the move?
Craft a communication plan that lays out how you’ll inform clients, partners, and suppliers.
15. What’s the exit strategy?
Nobody likes to think about it, but have a plan in case things don’t pan out.
Conclusion
“Is it worth it?” That’s the golden question, isn’t it? As one of our clients, Jake from Bake’n Cake once told us, “Relocating was the sprinkle to my doughnut. It opened up fresh customer segments and saved me a bundle in overhead.” Jake made his decision after asking these very questions—and it was sweet success.
Like Jake, you should make your decision with eyes wide open. A relocation could spell a new chapter of growth for your business. When you’re ready to ask these questions—and really listen to the answers—that’s when you’ll know if it’s time to pack up or stay put. And hey, we’re here for all your moving and shaking needs. Let’s make your business relocation story a winner!
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