Businesses are like an organism. They live and thrive in an environment. However, when that environment becomes too restraining or harsh, they dwindle. Competition, lack of demand, changes in laws, all these things can starve a business out. In those cases, you could abandon your business, sure. But wouldn’t that be a waste of everything you’ve done up to that point to make the business work? Instead, what you can do is relocate your business to a better environment. However, just as with everything else in life, this should be done at the right moment. This begs the question of what is the best time to move business? That exact question will be the topic of this article. So, read on and get ready to become even more prepared for relocating your business.
Why move a business?
Before you decide on what is the best time to move your business, you should consider the reasons to do so. Moving your company for the wrong reasons may well be the death of it. However, there are legitimate reasons to move your business that will help it thrive. First of all, you need to think about fighting the competition. If you won a small business, you are probably well aware of how the big businesses can drive you out of the market. Being able to offer lower prices and more aggressive marketing, they might become too big of a Goliath to take down. If they move into your area, they can present a real danger to your business. In that case, you might want to pull out while your company is still healthy.
This doesn’t mean you are giving up, however. A tactical retreat might just save your company, and if you find a greener pasture to cater to, you might come back in a few years to reclaim your old place. Another valid reason to move your business will be sudden law changes. As our friends at NoHo movers might tell you, a restricting new law can choke a business out. Changes in standards and requirements in one state, however, may not apply in others. In that case, it would be the best time to move business before the new laws impact it too much.
Customer retention influences the best time to move business
Another thing that might motivate you to relocate your business is lowering of demand. As a market becomes saturated with supply, you might find your company having a harder time to secure enough customers. However, you shouldn’t relocate at the first sign of trouble. After all, businesses live and die by their reputation. So the best time to move business in this situation would be one that doesn’t impact your customers. As the moving professionals from the NYC moving company could tell you, a business move can take weeks. All this time will mean you will be unable to conduct your business or you will be forced to conduct it with lowered efficiency. It would be best then to keep this in mind when thinking about the best time to move business.
Being able to pick a time to relocate your business will prove to be one of the key skills of running a business, be it small or large. Ideally, you want to be able to fulfill your customers’ expectations all the way through the moving process. This will ensure you achieve the best possible customer experience and retention. To do this, it would be smart to pick a cutoff point. Hold off taking any new customers beyond that point and synchronized it with your moving timeline. It would be best if your move would be done in stages and start near the end of your projects with the customers. That way, as the amount of work dwindles and the move carries on, the customers will not notice your company’s lowered ability to operate, as the move takes place.
Another important question for deciding the best time to move business will be how the relocation costs might impact it. At face value, it might seem that a relocation could only be a cost. After all, you will need to pay the moving company both for your move and for moving your business. Apart from being able to deduct moving expenses, it may seem like there are not many ways you could get that money back. However, in the long run, you might find that you can count moving expenses as an investment in your company’s health. For example, a company operating in NYC will have higher costs for renting out space, taxes etc. than a company operating in a smaller city or town. In fact, some states might even offer incentives for a company in your line of work.
Adding to that lowered operational costa and you might just find that the move, despite its fixed costs, might turn out to be very beneficial for your company. However, the costs of the move will still be there and even if in the long run your expenses get lowered, you will still need to pay for the relocation first. Therefore you should move your business after paying its most pressing expenses. Worker wages and regular payments first come to mind at this point. That way you will make sure your company stays solvent during and after the move, to reach the aforementioned long run.
The season of the move
Finally, a thing that will impact the decision of what is the best time to move business will be the season of the move. During certain periods of the move, moving companies will be very busy. For example the start of an academic year or the summer. At these times, relocation costs will be higher. You might also have trouble finding a moving company, which is something that surely won’t help you stay calm during the relocation. If at all possible, try moving your business during the moving downtime. Holidays are great too as your workers might be away visiting their families. This will ensure you get the best deal on your move, reducing the fixed moving costs.
Deciding on the best time to move business
As you could see, the question of when is it the best time to move business is very complex. It depends on many factors, some of which will be closely tied to your company’s line of work. This all results in only you knowing when the best time to move your business will be. However, if you plan and prepare well, we are certain that you will make the right decision.