Location can truly make or break any business. If you’re considering taking your business to a new location, you’re probably weighing all of the pros and cons. While a move can be stressful, it can also be incredibly productive if your business is relocating to a move lucrative area. Here are some things to think about if you’re considering moving your business to a new location.
Attracting New Clients and Business
Switching locations can sometimes lead to attracting more business, clients and customers. For example, if your business offers bike repair, but there is little demand in your current location, moving to an area where demand is higher, like a more urban area, can lead to an increase in sales. Make sure the new building is suitable for business. Are the grounds cared for by another landscaping crew? Will you have to take care of any problems on the premises, or will there be total drainage services available. Make sure you know the area before committing.
Losing Current Customers
While your new location may result in your finding new customers, and an increase in sales, the opposite could also happen. When changing locations, you risk losing the customers that you currently have. This is why it’s important to consider whether or not your new customer base will provide you with more business and sales than your current customer base. To keep old customers loyal consider offering special deals for when you come back into the area, or if they go the extra mile to come to you.
Lose or Gain Employees
As important as your customers are to your business, you wouldn’t even have them without the work of your employees. If you are moving your business to a new location, you may end up losing a lot of good workers in the move. While some employees may follow your business to its new location, others will be reluctant to move. It’s important to consider your employees while contemplating a move.
When you change locations, don’t forget about how much editing and refurnishing you’ll need to do to your marketing and advertising materials. From deals on company vehicles, to fliers to media advertisements, everything will have to be redone to feature your company’s new address and phone number. Furthermore, you may have to spend extra on marketing materials to announce the move so that your customers know where to find you.
Moving your business is not a decision to be made lightly. It’s imperative that you really consider whether or not your new location will greatly improve your sales and the overall prosperity of your business. However, if you’ve determined that a move is in fact the right step for your business, it’s important to begin letting your customers and employees know as soon as possible.