Much like moving to a new home, there comes a time to relocate your business and get a fresh start. Moving your business can be a major challenge, but the right planning can make all the difference in your experience and success. Whether you are moving for more space, lower costs, access to customers, or some other reason, there are several factors to consider before packing up and leaving where you are. Here are a few simple but effective ways to help minimize the impact to your business, and its profitability, when moving to another location.
Do Your Research
Choosing the best location for your business requires serious research. What about your current location is keeping you from succeeding? You may need a larger facility, a busier location, access to a deeper talent pool, or proximity to more customers. Weighing the pros and cons of each prospective location will help you understand how they can help meet your needs and achieve your business goals. Moving your business is no small task, so you’ll want to make sure that everything goes according to plan on the first try.
Create a Timeline
Moving your business also requires a significant investment of time and money. You should create a timeline that indicates what steps need to be taken before the day of your planned move. For instance, you will need a communications plan to keep employees, partners and clients well informed.. You will need to plan for the migration of all of your networks and systems. You will need to actually move the physical assets of your business. You will also need to update your physical address, internet/phone services, insurance policies, and any other related information. If you run a small company, you should begin your timeline at least three months before the move, and six to eight months in advance for a medium to large-sized operation.
Typically, you need to hire a moving company about at least three months before your move. You and your team should request quotes from various movers in your area to find the best rate. You also want to be sure you’re hiring a reputable company that is reliable and has sufficient experience to handle the scope of your move. Other services to consider include, but are not limited to, cleaning, painting, and carpenter work for both your new and existing offices.
Notify Federal, State, and Local Agencies
Before completing your business move, be sure to notify all federal, state and local agencies. You’ll need to change or update any business licenses you acquired for your business and determine the fees with your move. The IRS will require you to fill out a change of address form, and there are state and local notifications you must complete. If you are moving out of state:
- Contact your state’s business division (where you registered your business)
- Contact your state’s taxing authority to stop sales tax and other applicable taxes
Reach Out to Vendors
Through this transition, constant and clear communication is key. Reach out to your vendors and let them know about your move. This way they can update your shipping and billing addresses in their systems. You should reschedule any vendor deliveries that may conflict with your move date and plan future deliveries accordingly. The earlier you take care of this the better, so you can eliminate any issues before they disrupt your business.
Update Your Information
It is extremely important to notify your clients about your business move and how things are progressing. Be sure to keep your online presence current by updating your website and Google My Business listing with your new address and contact information. Maintain a strong relationship with your customers through social media, email, and any other form of communication. Let them know your reasons for switching locations and, if possible, motivate them to stay in business with you.
The Ultimate Resource for Relocation in New Jersey
At Choose New Jersey, we provide detailed market assessments, demographics, site selection, and many other complimentary services to assist you in relocating your business. Our team is passionate about helping your company grow, no matter how big or small, and will ensure a smooth transition from planning through move-in. For more information about our relocation and expansion services, please contact us today and we’ll be happy to help.
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