Moving office is a business ritual, a milestone that you’ll probably go through at least once with your company. An office relocation requires careful planning – after all, it could be the making or breaking of the business. It can be difficult to know when the right time for moving office comes around. You might feel a bit squashed in your current space but not financially secure enough to take on higher rents. There are various motives behind an office relocation, but it’s essential to ensure that a move is the right thing for the business.
So how do you know when the time is right? Here are the top three reasons why companies decide to move office, so if you can relate to any of these then it’s time to start looking for a new headquarters.
Low quality facilities
Are you sick of your employees complaining about the lift that’s out of order? Perhaps the air conditioning unit has decided to give up just before summer, and you know that the team simply won’t be productive in the current workspace. Businesses often put up with bad conditions for too long because the owner thinks they won’t find anywhere better for the same price. It’s worth doing your research! A business can’t flourish in a building which isn’t properly looked after. Perhaps a move to a cheaper neighbourhood could be good for business.
You’ve outgrown the space
As a business grows, it starts to outgrow the original office just like a child outgrows their shoes. You might outgrow your office in terms of size (physical space and number of staff members) or you might need more space for equipment and machinery or require specific services which the current building doesn’t offer. Figure out how much extra space you need for the company to function better, and see whether the more expensive leases would be a gamble or a great plan.
An office lease could be anything from one to 15 years, and when it expires it can be the perfect opportunity to relocate if you’d been thinking about it already. Review your current office space and facilities and decide whether the business could do with an upgrade – a lot can change in a few years and the space might not serve you as well as it did at first.