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How to Know It's Time to Relocate Your Business

By Margarita Hakobyan
Business.com / Business Solutions / Last Modified: February 22, 2017

Four ways to tell that moving is in the cards for you and your business.

There comes a time in every business’s development when you start to wonder if you are in the right location for your business. Maybe you started out as a small, home-based business, and now you need more physical space, or perhaps you thought foot traffic would be your core, but your business ended up being more successful online. Whatever the reason, all businesses get to a point where they start to think that moving to a new location might be the right move for their ongoing business development.

Here are four reasons that might clue you in that moving is in the cards for you and your business.

Better Foot Traffic or Parking

Sometimes a business starts in a great location, but over time, the retail area stops working as it did. Through redevelopment projects and new construction in other areas, businesses around you might close or move. If your foot traffic is down overall, it might be worth considering relocating to an area where foot traffic is more substantial.

Some companies find that a lack of good parking is keeping their business from being successful. If you are losing customers because of poor parking, it’s often time to look for a new location.

More Affordable Rent and Overhead

Another common reason to relocate is rent and overhead. You may find that your current space is overcharging you for what you are receiving, or you could find that a new location will give you better amenities when you move. Some towns or cities, when they are revitalizing an area, are willing to give substantial bonuses to stores that are going to anchor the location, becoming the first substantial tenants to sign a lease.

It can be hard to leave a community where your business began, but sometimes, it is the right step for your business to grow.

What’s Next?

If you’ve found a good location to relocate your business, what do you need to do next in your journey?

Keep Your Employees Informed

There is nothing more frustrating as a customer than getting inconsistent information from a company. If you’re hearing one move date from a sales rep and another move date from a customer service tech, you’re not going to know what’s going on.

One of the best pieces of customer service a company can invest in during a move is keeping all employees on the same page about the timeline of the move. Make sure that any updates are made public and obvious so that your employees stay on top of any changes as they happen. If someone does accidentally give out the wrong information, it is the business’s responsibility to bend over backward to meet the customer’s needs.

Keep Your Customers Up To Date

As soon as you know that you’ll be moving, start letting your customers know. Signs at your current locations, as well as “arriving soon” signs as soon as permitted at the new location, will help clue your customers in. But signs are not enough in the modern world. You should also:

  • Plan to make announcements on your active social media channels. Make a schedule of good times to post, based on your high traffic times, and make sure to get messages out regularly ahead of your actual move date.
  • Consider an email blast, especially if you already have an email newsletter established. Don’t assume that you can send one message and be done; plan ahead to let your customers know what’s going on a few times.
  • If you are going to have any blackout dates due to the move, make sure to communicate that to any regular clients, any customers who will be affected, and keep it high in your social media information.

Moving your company from one location to another is a big, and often frustrating, task. Planning ahead can smooth out many of the wrinkles, and give you a timeline to follow in order to get through everything you need. Trying to take on a business move without a plan is a disaster waiting to happen, and can potentially wreck a business. Keep your business safe by staying aware and in touch.

Photo credit: shutterstock.com/g/Micolas 

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