Choosing the right time to move office is important to your business. Whether it is expanding or you need to move to smaller premises it is important that you make the move at the right time. You can optimise business processes, ensure that you have room for storage and expansion, and enjoy the benefits of a good looking building to accompany your high quality brand. Obviously you need to consider finances as well as the state of the commercial property market, the rate of expansion of your business, and your existing lease if you have one.
Refurbishing Your Office
A lot of businesses have spent numerous years in the same building. Rather than being time to move, it may simply be the case that it is time to revamp and upgrade your office décor and layout. New furniture, additional storage, and updated branding can prove a highly effective means of changing the layout and design of your office to give you great benefits.
Expanding Requirements, Cramped Space
Successful businesses naturally expand over time and meeting this growth is an important aspect of running any organisation. Businesses that have undergone expansion without moving office may find that desks are crammed together, documents are being lost or damaged instead of stored securely, and working conditions are cramped and difficult. In these cases, it is almost certainly time to look at expanding to a larger building.
Some businesses experience periods of sustained growth and, if you are looking to move office because you have recently taken on new staff to meet new orders, then you need to be sure that this growth is a long term thing. If you pay to move to a larger office only to discover that the demand then dries up you may be left paying for an excessively large building or you may have to make a move back to a smaller office. Both can prove troublesome and unnecessarily expensive.
Buy Or Lease
There are many different leases available ranging from short term to those that last for several years. You can even lease floors or space within offices that can be expanded over time should you require additional space. However, if your business is stable and you have the available cash or credit then moving into premises of your own affords you greater freedom, both in terms of making changes and in financial terms.
Whether you choose to move office or enjoy a new office fit-out you should take the opportunity to have a clear out. Look at records and documents and determine whether any can be discarded or whether they would be better placed in remote storage. Consider new storage systems and other ways to help you make the most of every bit of space that you have. This can be especially important if you are remaining in your existing building but still expecting some further expansion.
Financing A Move
Consider your budget and the state of the commercial property market. Typically, it will prove a lot less expensive to redecorate and refurbish an existing building but if you need to move to a new premises then you should ensure that you have the finances to make the move a successful one. As well as paying for your new lease or paying for the building that you pay, consider any additional costs as well as any potential lost revenue that will arise should you have to close your business.
Time For A Refurb Or Time To Move Office?
There comes a time in the life of most businesses and organisations when it is necessary to move to a new office or building. The alternative is to refurbish the existing building and this may prove the best option in some instances but not always. Determine your requirements, work out your budget, and look at the state of the commercial property market before deciding whether to move or embark on a refurb.
FlexibleOfficeSpace.co has a portfolio of high quality office space London businesses can benefit from. Whether you're looking to relocate or require additional premises, you can find the ideal destination.