7 Top Tips for if you're thinking of relocating your business
Are you thinking of relocating your business? Procuright have some top tips to help minimise any risk and of course, realise some cost saving.
Moving your business' premises may seem straight forward but could, without careful planning and due diligence, end up costing much more than you originally thought or had budgeted for. Before signing on the dotted line, there are a number of key factors to consider. These will help to determine if both the space and infrastructure suit your business needs.
Technical infrastructure, for example, can have a negative impact on your business if connectivity is slow or unreliable. Before deciding on your new premises, we recommend you ask yourself what your Business Telecoms needs are currently and also if those needs are likely to change in the next 12 months. Are the Broadband speeds quick enough for your business' activity not to be negatively affected? Also, who currently supplies the premises and what alternative options are out there?
2. Plan Everything
It is also worth spending time looking at the most effective use of your new space, environmental and health & safety considerations and the procurement of office supplies including furniture, signage and office layout, all of which need careful coordination. Ultimately, planning is the key to saving your business money and avoiding problems in the long term.
Of course, all this may be easier said than done and you'll know whether your in-house team have the time to go into such detail. An office move can seem to be a simple process, but once you start looking into the finer detail and managing the project alongside your daily workload, it's possible that some vital aspects are overlooked.
4. To Rent or Buy. That is the Question
To rent or to buy is the age old conundrum and you should consider all of your buying and leasing options before signing along the dotted line. If you're leasing then ensure you get a break clause that suits your likely short and medium-term risk and needs as well as your long-term business goals. Buying works brilliantly for some companies. It's generally more appropriate for well established businesses. Any property you buy will then go on the company's list of assets and potentially strengthen its value and worth.
5. Business Energy at your old premises
When you have moved to that new location there are a number of things to consider, particularly when it comes to your Business Energy supply. Regarding your old premises, have you given notice to the utility companies supplying your previous site? And have you provided a final meter reading for your old premises?
6. Business Energy at your new premises
Who provides the commercial energy to your new offices? Have you provided a starting meter reading? Do you know where all of the meters are located? If not, then the landlord should be able to help. It's important to ensure that you are providing meter readings for ALL meters that you are responsible for. If you omit a reading from a meter, that is hidden away, you risk providing inaccurate information to a supplier. A full summary of all the meters in your premises should be available from the current supplier. All of the above are vital in avoiding any 'surprise' charges that you may not have budgeted for. But there are a whole host of things to consider BEFORE signing up to the new premises too (we'll happily talk you through this), which can be critical.
7. Know your own needs
At Procuright we work with our clients to understand their current needs, their daily business demands and help to safeguard for the future to ensure growth is not restricted through insufficient space and inappropriate infrastructure. We're specialists in tailoring procurement strategies, across all essential services, specifically for your business. This is whether you're planning on relocating, have just relocated or are staying where you are for now. But you need to know what you are looking to achieve in your business, over the next 12-18 months in order for a procurement strategy to be of real benefit to you
"All of the above are vital in avoiding any 'surprise' charges that you may not have budgeted for. But there are a whole host of things to consider BEFORE signing up to the new premises too (we'll happily talk you through this), which can be critical."