Is your business moving? The process can be a pain without proper planning. Your move will go more smoothly if you use this plan of action.
Here’s how to plan and organize a business move.
Draft business moving specifications
Think about the foremost reasons for moving your business These could be more space, better infrastructure or better quality of life for employees. Then, identify the specific qualities you need in a new business site to afford these improvements. For example, you might want an office with 3,000 square feet of space and a location in San Francisco’s financial district.
Put these specifications on paper along with a planned moving budget and the timeline for the move. The budget should include the mortgage or leasing costs of the new business site and the expenses of packing and moving personnel, equipment and inventory. Take into account that a prolonged moving time table could result in a decline in productivity or revenues.
Determine a location
Make a short list of locations that meet your budget and needs. Not every business move requires a complex cross-country relocation. Some locations, while glamorous, can make a move cost-prohibitive. A suitable location may be a matter of miles away in the same city your business is already located.
Determine a site
Pull a list of the office spaces in the chosen location that meet the site and budget criteria you put down in the moving specifications. In some cases, you may not find a site in that location with the combination of criteria you wanted. In this case, prioritize the qualities that are important to you and make a trade-off.
Let’s say that the only space in the 3,000-square-foot size you want is not wired for internet connectivity. If a 2,500-square-foot space is available and already wired, you may want to opt for this space than to commit to a costly post-move wiring of the larger space.
Once you pick a site, it’s wise to activate internet and phone service in advance of moving day. This will ensure that you don’t lose time on moving day setting up essential infrastructure.
Coordinate the move of staff, equipment and inventory
Depending on the type of business you run, you may need to bring employees, equipment and inventory with you to the new business site. It can be helpful to appoint someone in your business as a moving coordinator to coordinate with movers and employees and keep the move on schedule.
When it comes to equipment and inventory, sometimes it’s easier to sell and re-acquire these than to ship them to the new location.
As for moving employees, you should inform them as far in advance of the move as possible. This will ensure they have time to relocate either on their own or at the expense of the business (if you have an employee relocation budget). You or your moving coordinator may also want to inform customers or clients of blackout dates during the move when the business is closed.
Inform contacts about the business moving
Following the move, you and your employees should all know the new address of your business. But do your customers or clients? It’s helpful to publicize this information on your business website, through emails or personal phone calls. You can also announce it on customer or client-facing platforms like your social media accounts. You should also redirect any business mail to the new business address.
MileIQ’s blog does not constitute professional tax advice. You should contact your own tax professional to discuss your situation.