If you’ve managed to launch and maintain a successful business from your home, then congratulations are in order. You’re part of a select, high-achieving club. But if you have greater ambitions, then you might find that the only way to achieve them is by growing your business, and collaborating with a larger team. That means sharing a physical premises – which means setting up an office outside of your home.
When’s the right time?
The timing of your move will depend on several factors, including your location, and the industry you’re involved in. A retailer might need a physical premises more quickly than a software company, for example.
Think about what you can afford to do, and what you can’t afford not to do. It might already have become clear that you’re losing productivity by not having a shared physical space. Your next challenge is to determine whether the costs of setting up shop in a fixed physical premises are worth the expense you’ll incur.
What to Consider
Let’s look at some of the factors you’ll want to account for before making the move.
Location
This is obviously the most important thing to consider. You’ll want to pick a space that’s reachable for your current employees and customers, and that will allow you to bring in new ones, too. You might find that it’s cheaper to move into a remote location – but you’ll struggle to attract the employees your business needs.
Making the Move
If you need to transport equipment and furniture to your new location, then hiring a van might be a good idea. It’ll allow you to get everything done without the expense of a professional removal company. Make sure that you have the appropriate temporary car insurance in place, however, before you make the move.
Growing Room
You’re moving into a new premises because your business outgrew your home office space. You don’t want to be faced with the same problem several years down the road. Therefore, ensure that your new space offers you sufficient room to expand and to grow. Having a plan in place for future growth will help you to make this decision more easily. This should be part of your written business plan.
Get the Team Involved
If you have a core team upon whom you’ve come to rely, then getting them involved in the decision might not be a bad idea. Is your company culture a better match for open-plan office space, or would you prefer hot-desking practices? It might be that by consulting your workers ahead of a move, you’re able to avoid committing yourself to the wrong approach.
