Your employees are working harder than ever, customers are happy and sales are booming. Your premises can no longer handle the increasing staff numbers, stock or manufacturing equipment. It’s time to think bigger. In order to move forward and adequately supply your growing market, you need to find more space.
Perhaps you need to move to a more effective location or keep your current premises and build another elsewhere. The path you choose to take depends on a number of factors. Either way, this process will require much time and consideration before you go through with it.
Here are some things to consider when you need to expand.
Building a New Site
If you’ve chosen to start fresh in a new location, it’s important to draw up a checklist of everything you need in order to keep operating effectively during the move. Speaking of location, consider the purpose of your new premises. If it involves a storefront, ensure that it’s located strategically to make it as convenient as possible for customers to reach.
If your new premises are only for staff or manufacturing, a more affordable location in an industrial zone or business park can be considered. If you plan on building your new site from scratch, finding the highest quality and most affordable suppliers is important.
Building materials will inevitably be one of your biggest expenses. Armstrong Steel is a high quality, cost-effective steel supplier for businesses looking to build a new site. Custom pricing, material options and affordable shipping adds significant value to their service. Their steel has a variety of uses for business properties and will help you save on building costs.
Expanding Your Current Premises
If you’re not yet ready to move or build a completely new site, keeping your current one and simply upgrading on size can prove to be much more cost-effective, provided the location facilitates expansion. If your business is still in its early stages of growth, it’s worth considering whether expansion is necessary at all to begin with.
Perhaps certain employees can take remote positions and work from home. When it comes to storage and manufacturing, it’s easily possible to simply cut down on the amount of space your equipment and storage units take up, allowing you to save money and leave expansion for a later stage.
Competition
When it comes to moving to a new location, knowing your nearby competition and their proximity to your target market could save you from making a costly move. In the same light, it could help you find the best place to build your new site on. Take a look at where your competition is struggling. This will also give you an idea of where not to go.
Expansion is always a risky move. You could end up spending a ton of money and only see your profits fall. But if you do your research and find the absolute best location, it may just be the smartest decision you’ve ever made for your business.
