Many factors contribute in the ultimate decision to move the location of your business from one place to another. It could be as simple as a better rent for the space you use, or that a much more convenient property has become available for your business. Either way, there are going to be issues that you are going to have to deal with whenever you change address.
Reasons for a Business Move
Even though there may be some difficulties in changing addresses, there is no legal limit on the number of times you can move from place to place. The physical address can change from place to place as business factors dictate. Often times in business, it is the location that matters. As you have been in business longer, there is more of a chance that a property that is more ideal for your business may open up. Perhaps a space opens up in a bustling downtown area or inside a busy shopping mall that will increase the foot traffic to your establishment. Just because you can move doesn’t mean that you should. However, if it seems to fit a financial benefit for your business, then by all means, move.
Problems with Moving
Cost is the first challenge. You’ll have to move all of your products or equipment, and you’ll likely have to renovate the new space to your specifications, so there will inevitably be a lag time between leaving your old location and opening the doors to your new one. These costs should obviously be weighed carefully before a business owner decides to move his or her business.
Also, you are going to have some customer confusion no matter what you do. No matter how much promotion and advertising to get the word out about your new business location, there will still be some who don’t get the message. This can damage your valuable relationship with these customers, so go to all lengths to make sure they know. Building and using an emailing list with your customers is a practice you should follow anyway, but this list and communication can become vital when you change your physical location. The business world is difficult enough without totally rebuilding your customer base. Keeping the confusion to a minimum and planning well can avoid this type of problem.
The grass is always greener on the other side of the fence, and that is true in business. Often times, business owners look at other locations with envy and think what they could do there. It is important to make sure your focus is on the location that you are in right now. Make the most of what you have before you invest in the move to a new place, which will provide a certain amount of risk-reward. Evaluate honestly if you can make a better profit right where you are. Changing for the sake of change is a bad business practice and will have you looking back with regret if it doesn’t work out.
Full Steam Ahead
Change your mailing address to a permanent location. That way, you don’t have to go through the inevitable confusion of mail delivery and possibly missing payments and putting yourself behind before you even get going. Many businesses choose to have their mail delivered to their accountants or a paid mail box.
Whatever your obstacles are, if you can look at moving your business and see the possibilities of improvement, then by all means, take the opportunity and move. There is always going to be risks in life and in business; those who are successful are able to weigh and evaluate those risks better than others.