Breaking New Ground: What Does It Take To Set Up A New Business Location?
Whether you're looking to upgrade your office or move your business to a whole new country, a business location is essential to get it right first time. We can spend a long time agonizing over the finite details, but the location has a lot of importance attached to it, not just because of what it does the employees, but how we can impact the business in so many other ways. So, what does it take to set up an effective business location?
Accessibility is of the utmost importance, and this is especially true if you are in an out-of-the-way place, like an industrial estate. Because central locations are costly, this is one of the main reasons that businesses who don't necessarily trade with customers venture further out. There are exceptions to the rule of course, such as out of town department stores. And a lot of these businesses have had to work hard to get to this point, but that's not to say that those that don't have access to transport, or is not on a public transport route, won't struggle. Accessibility is vital, and this is something has got to be thought about in terms of the employee. They spend a long time commuting to work, and when it comes to an accessible area, think about if the business relies on deliveries or transportation.
Business rates and the general cost of the land is a major factor. What's amazing from the perspective of a business that is looking to build rather than rent or buy, is that they have a lot more freedom. They can subdivide property areas to make the most of the equity, and they can design the building as they see fit. But with the supposed freedom comes a lot of hidden costs. Deposits, as well as setting up the essential utilities, can mean that there's a lot more to pay for than you first thought. If you compare this to an existing building that you can rent, that's already got plumbing and essential amenities, it can be quite a dilemma.
The Potential For Growth
The great advantage of an untapped area is that it can be harnessed for growth. If you're moving to a new location, you may be able to accommodate more business growth. Is the land a potential area that will see a big spike in demand from other businesses? You could be blazing a trail by moving to this area, either because it is cheap land, or it's so far out of the way, that others may want to jump on the bandwagon as well. In one respect, this means that you will have got there first and made the most of these cheap rates, but on the other hand, if competitors move directly next store, does this mean that you will be moving on in a few years’ time? This will cost you yet again. You need to make a decision as to whether you want to stay in a specific location for a short time; to give it a go, or whether this is final. Being flexible is essential because you are able to meet the needs of the clients and customers, but it's going to be a very costly move each and every time.
Harnessing The Local Skillset
Moving to a new area means that there's a lot of potential, and it's an adventure for your business. To make the most of this, you can recruit new employees from the local area. Many businesses move overseas for cost reasons, but sometimes it's to make the most of the talent there. Sometimes we have a business that doesn't necessarily fit in with a specific culture, and so when we make this shift, everything slots into place. Local talent is a great untapped resource. But you have to think about if the local employment rates are within your budget. You need to gauge if the area will suit your needs. It's important to get in contact with a local recruitment agency so you can look at the demands, and if there is the talent to meet your demands.
Setting up a new business location, either by expanding, or upping sticks and moving on, is a very costly procedure. It could be the best thing that ever happened to your business, you could break new ground, but sometimes, you might not strike it lucky. A new business location can reinvent the company in so many ways, but by making this move, it will require an infinite amount of change. This is something that has to be thought of, not just from the perspective of the company, but the employees. If you're moving far away, will they want to move with you? Sometimes it's essential to jettison these components so you can break new ground.