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According to the Small Business Administration’s Office of Advocacy, home-based businesses account for 50% of all firms. Whether you started your business in your garage or your home office, the time may come when you’ll need to move into a commercial space.
Transitioning from a home-based business to a rented space is a big decision. If you’re deciding if this move is the right step for your company, consider the following tips first.
Signs You’re Ready to Move Your Business
Before you actually move your business, look for these signs to make sure you’re ready for this transition.
For some businesses, a computer and an internet connection are the only supplies needed to run a successful firm. But for product-based businesses, the more successful you are, the more inventory you may have to store at home. This can quickly become inconvenient, and it’s a sign it’s time to find a larger space.
Hiring your first employees is an exciting time for your business. Your workload has continued to increase, and you’re making enough money to require additional staff. Congratulations. Once you start employing extra help, though, you’ll likely need more room for desks, computers, and other equipment so everyone has enough space to work comfortably.
Some business owners enjoy working from home because of the proximity to their family and friends. While it may be convenient to throw in a load of laundry between calls, meet up with a friend for lunch, or run errands before the kids get home from school, the distractions can disrupt your day and cause your productivity to suffer. Moving to a commercial space reduces these interruptions and keep you more productive.
Sometimes, a business benefits from the image associated with a commercial space. You may have a very professional home office, but a formal office may give some clients a better impression of your business.
What You Need to Do to Move
Now that you’ve confirmed your need to move, use the following tips to make the process as seamless as possible.
Meet with your current employees, if you have any, and determine what you’ll be looking for in a new office. Will you need more warehouse or retail space? How many employees do you expect to hire in the next three years? Does location matter? Pondering your needs prior to moving can help the move be successful.
Of course, you’ll have to budget for the new space: rent, utilities, equipment, etc. You should consider other expenses like landscaping and snow removal costs if applicable to your new building. Make sure to also budget for movers, packing supplies, and other moving expenses.
You should prepare a detailed timeline three to six months before moving. Schedule the movers once you determine the move date. You’ll even want to figure out how long your business will be closed for during the move and plan around the hiatus as necessary.
In order to keep business going strong as usual, your clients and suppliers will need to know where to reach you and where to find your new office. If you have an email database, you can notify people electronically. If not, create professional postcards announcing your new space and inviting people to come visit.
What IT Must-Haves You’ll Need
To keep your business moving smoothly after your move, invest in the following IT musts.
These days, many businesses operate solely online. Their internet service is the driving force behind their company. While smaller organizations have smaller needs than larger enterprises, high-speed internet is still necessary for maintaining a high-quality business.
Data security and backups are extremely crucial to your business. Firewalls, cloud-based backup services, and antivirus software are critical to keep your company data safe and secure. If you aren’t familiar with how to set up and install these components for your business, hire a local technology consultant to do the job for you.
This kind of software provides immense value to companies of all sizes. The software not only helps you market more efficiently to your customers but also identify how these individuals purchase.
Making the move from home-based business to a commercial space shouldn’t be stressful or expensive. Learn more about Frontier’s internet and phone bundles for money-saving options, and let us help you set up your new space most effectively.