Is It Time to Move Your Business?

May 10, 2015

10:00 pm

When you first start a business, there’s a tendency to start closer tohome. After all, while we often have high hopes for our businesses, it’s impossible to anticipate from day one whether or not your amazing idea is going to be a multinational franchise, or whether it’s going to fizzle out.

After you’ve been successfully operating your business for a few years, you may start to wonder if your business might be more profitable in a different location. But moving locations – especially when it’s to another city – is a big, complex decision. How do you decide if you’re ready?

Can You Maximize Marketing by Moving?

If your business is small, you might be doing all the marketing on your own. With the freelance economy booming on the Internet, you may be able to find a great marketing expert no matter where you are in the world; however, if you’re located in or around a major metropolis, you might be better equipped to find an experienced marketing person who can take your business to the next level.

Can You Save Money and Time by Reducing Travel?

As a business expands, you may find that you’re spending time and money traveling for business – whether that’s visiting various locations of your business, or traveling to meet with vendors. While business travel expenses are often deductible, it can still be hard for a growing business to lay out those expenses in the first place. If you frequently find that you’re traveling to one location over and over again, it might make sense to move your business headquarters to that location.

Does the Cold Hurt Your Business?

Depending on what sort of business you operate, you might find that business all but shuts down in the cold months of the year. Or, you may find that one of the less glamorous truths of being a little bit older is that health can be negatively affected by cold, dry weather. Whether it’s because it’s harder to find customers, or because it’s harder to operate your business in the cold weather, some businesses are more portable than others. It can be worth considering setting up a second location somewhere warm, or moving your headquarters to somewhere warm and sunny to maximize your own health.

Can You Promote Your Moving to Generate Business?

Whether you’re opening a new location, or moving from one location to another, this can be a great time to really push marketing on social media. You don’t have to break the bank to do it, either. You can run contests, post photos of the new location with rewards for customers who like or share your post, or reward engagement on your Facebook page. Raffles, giveaways, and contests are great ways to spread the word about your business to new customers, and remind current customers of how amazing you are.

Urban, Suburban, or Rural?

If you are considering moving your business to an urban area, or opening up a location in a downtown location, remember that moving-day is likely to bring some challenges that you won’t see when moving into a mall location, or into a more rural area. Plan ahead to make sure that parking and other challenges are minimized.

Like all other business decisions, moving your business on a whim isn’t always going to yield great results. There are a number of factors to consider when deciding whether or not to move your business, and it’s unlikely that the answer will be a clear-cut “yes” or “no”. If you’re not sure what to do, reaching out to current entrepreneurs in future locations, finding mentors, and possibly contact CPAs or the local Small Business Administration may help you make an informed decision.

Margarita Hakobyan is the CEO and founder of Movers Corp, an online marketplace of local moving companies and storage facilities. She’s a businesswoman, wife, and mother of two. She holds a bachelor’s degree in international studies from the University of Utah and a master’s degree in international business.

 

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Margarita Hakobyan is a serial entrepreneur that is addicted to creating. Business women, wife and mother of two with bachelor’s degree from the University of Utah with a concentration in International Studies and a Masters Degree also from the University of Utah with a degree in International business. CEO and founder of MoversCorp.com, an online marketplace of local moving companies and storage facilities.

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