According to the U.S. Census Bureau, approximately 40 million Americans move each year. I’d wager quite a few of those folks are entrepreneurs relocating in hopes of starting or growing their small businesses.
Location matters a lot when it comes to running a successful business. Some common reasons for relocating include:
Access to labor and workforce
Reach new markets
Upgrades On facilities And equipment
Improve quality of life
However, moving is not without risks. Moving never guarantees greener pastures. It can be as simple as a change of mailing address for solopreneurs to having to pause operations for larger small businesses.
Either way, you can make the process of relocating seamless and hassle-free. Here’s a look at simple and smart ways to relocate and keep your business running smoothly in the process.
1. Dive deep into market research
Whether you are expanding or relocating your business, it is vital that you understand why you want to expand your business and why relocation is essential to your business objectives.
As HubSpot explains, “An effective way to get started is to determine what subgroups (niches) exist within your target audience, and to create buyer personas. Use sites like the U.S. Census Bureau to gather data about your target audiences from the 2012 Economic Census and information by state, city, age, business, geography and more.”
2. Identify potential partners and new connections
It is hard to get established in a new market if you don’t have connections. Start by asking your network for referrals. You can also establish your office and presence rather quickly in a new marketing by signing up with a local coworking space. You can meet other entrepreneurs with ease by choosing a shared office environment.
3. Plan your move, in detail
Let’s face it. Moving all of your personal and business stuff can be really stressful. Luckily, there are tips you can follow to make a fast transition and minimize business downtime. According to this moving guide, there are at least 10 moving tips you should remember before relocation. Here’s a look at several that you should definitely follow:
Plan your relocation in advance
Create a checklist of all the things you need
Get an estimate several weeks before moving
Start packing 2-4 weeks prior to the date of your move
Go over your business contacts and notify your associates, clients and those who need to be notified
Make sure all items you need to use immediately are packed together
Make sure all utilities including phone lines are running in your new place prior to move-in
4. Learn about the local workforce
If you are planning to expand your business and build a team in your new hometown, learn as much as possible about the local workforce and access to talent.
Research employment laws, benefits, compensation and perks common to that area. Work with a temporary staffing agency on a contract basis in order to test out local candidates for tactical roles. Meanwhile, hiring a few interns could prove useful as you define roles and assess talent needs.
Moving your business can seem overwhelming and risky. However, when you plan it well, you can minimize downtime, lower expenses, make a fast transition and stay productive while on the move.
While there is no guarantee of success, relocating could be your next best move both personally and professionally.
This article has been edited.
Key Acanto is a content writer and editor of ScoopFed. She is focused on writing topics about business, marketing and other related topics. Aside from being an editor, she is also a part of Dlinkers writers’, where she shares her insights and knowledge on digital marketing. Connect with @scoopfed on Twitter.