How to Decide Between Expanding and Moving
After a few years of successfully running your new business, you’re ready to expand. You don’t have enough room for your employees in your office, and your orders are coming in faster than you can keep up with them. As you debate between moving to a new facility and adding on to your current building, keep the following issues in mind.
Every building needs certain amenities, including running water and restrooms. Don’t expect your employees to make do with jugs of water and portable toilets for more than a few days. You can install permanent versions of these essentials into an addition even in the midst of a city thanks to drilling technologies Chester Springs PA. An advantage of purchasing a new building is that the infrastructure is already in place, although it may need extensive renovations, depending on how old the building is and how long it has been in disuse.
You want your clients to be able to find your business, so location matters. If you add on to your office, then you won’t have to worry about finding a new spot and advertising your location change to customers. On the other hand, it’s often difficult to build in the city and unless you build a large new wing, you’ll probably need more space in a couple of years. Choosing an entirely new location allows you to have a fresh start with your increasingly-expanding company.
As your business grows, you need to decide whether to stay in your building and add to it, or pick a new, bigger location. Both options have pros and cons based on your budget, long-term goals, and level of attachment to your community. Whichever route you choose, make sure that it aligns with your business’s mission statement and core values.