Do your business premises need to be where they are now? Is your client-base shifting? Have rents increased beyond your means or are new markets developing in other locations? If so, it may be time to consider relocating your business.

Relocating a business can be a complex task. First and foremost, can the business maintain its viability if you decide to move? Secondly, would relocating only serve as a bandaid measure to an already failing business? In many cases, if you choose carefully, your business will benefit from the rejuvenation of a new location.

Whatever the individual circumstances, making the decision to relocate your business must be done with foresight and planning.

There are various reasons for a small business owner deciding to relocate his/her business. Business may be spiralling downwards, however the owner believes business is suffering purely because of location rather than management issues or the product/service itself. Rather than selling, relocating may be a viable option.


Other reasons to relocate may include:

Deterioration of an area: the location may have been financially successful when the business started, however, socioeconomic factors have caused a spending slump which has been impacting on business.

Business growth: the business may have grown beyond its capacity in its current location.

Relocating may be the answer. There may also be significant market growth in another area that had yet to experience a boom when the business was originally set up.

Increasing rents: small business owners often find rent and overheads a drain on finances. Relocating may help alleviate these expenses.

Changes in the direction of a business: the business may have been set up with an original task/product/service in mind but has changed direction over the years, creating location and premises problems.

Personal circumstances: an owner's circumstances can have animpact on viability. An owner may need to relocate as a result of personal matters.

Product availability: it may be prudent for a business to relocate to an area/region where access to product components, ingredients, etc will make operating the usiness more streamlined.

Labour needs cannot be met.

Shifting client base: to keep in touch with clients the business may need to relocate to stay competitive

Change in access to local supply chain networks: depending on the type of industry in which the business operates, there may be concerns regarding the current location when it comes to gaining access to supplies, etc.

Change of amenities: a business may have chosen a particular site because of its high visibility, however over the years changes to the area's amenities may have had a negative impact on the premises. Maybe a business has downsized and finds the current premises too large.


Assessing your needs

The decision to relocate has to be made with specific regard to the future of the business. It needs precise planning and research, the groundwork needs to be impeccable and the owner needs to be sure that relocating is the answer for his/her business future.

Just as when you entered the start-up phase, you will have to go back to the drawing board and conduct your market research to pinpoint potential new locations.

Of course you may already have an alternative location in mind. You could have highlighted a particular area where your business would slot in well or where there is a demand. Even if this is the case, Planning a Business Relocation should not be rushed.

You will need to assess the location for a number of factors. For a complete checklist, go to: http://www.theofficemover.net/resource-considerations-when-looking-for-a-new-office-space.html

When looking, consider the following:

Favourable signs:

. The opening of new shopping areas 
. Branches of large commercial and industrial companies setting up in the area 
. Good schools and other services 
. Well maintained businesses and residential properties 
. Good transport facilities 
. Building activity accompanied by a minimal number of vacant business premises.


Warning signs:

. Necessity for high school students and university graduates to leave the area to find suitable employment. 
. Inability of residents to find local jobs 
. Declining sales and industrial production 
. Apathetic attitudes of local business owners and other residents.

You also need to consider what impact relocating would have on your current customers. Would they be willing to travel to you? If you are in the service industry and you need to be present at your customers/client's premises to carry out your business, will it still be financially viable for you to do so?


Business Relocation Decision Making Tips

When thinking about relocating your business:

Ask your customers/clients whether they would be willing to travel to use your services/product

Develop a specific brief that outlines your business' needs when it comes to premises and location

As part of this brief, include reasons the current premises or location are now unsuitable

List what you would like your business to achieve through its relocation, for instance, improved profits, streamlined operations, increased customer base, etc

Speak to businesses in the area to gain an insight into the current economic situation

If possible, speak to business owners who have relocated to see how they handled the situation and how their businesses faired

Assess key issues you will need to consider if leaving the current business premises. For instance, the lease arrangements, utilities, assess the cost of relocating, what you will do with superfluous stock (if applicable), etc.

You should aim for at lease six months of planning before making any major decision. Make sure you do not do anything without having put in the necessary groundwork

If you find premises in the right location, but it needs renovation, organize the pricings/quotes for work before making any decision on relocating. This way you will know, before you make a business relocation decision, what the financial outlay will be.

Sometimes relocating a business may be a result of personal circumstances. It may also mean the business is relocating to a regional area or another city. In this case, you will also need to consider the impact on your family and housing arrangements