Jun 1
Moving Your Business? Key Questions to Ask and a FREE Worksheet
Here’s a post I wrote over a year ago that continues to have the free worksheet at the end downloaded by my readers. I thought it would be helpful to make it available again to newer followers of my blog.
A small business client of mine was thinking about moving to another location. When you consider the fact that it can take almost two years for customers to find you after a move, this is an important decision. When you also consider the fact that—after people—facilities may be your biggest financial investment as a business, it is an even more important decision.
The problem was, my client had nothing more to go on that his gut. Should he stay where he was or relocate? He had no idea except for how he felt at the moment, and that feeling kept changing.
Here’s something better: analysis.
First ask yourself which of these four things are the most important to your business: visibility, accessibility, affordability, and livability.
In other words, is it more important for a customer to see your business from a main thoroughfare even if it’s hard to get to? Or do people already know where you are and need quick, easy access to your store? These are issues of visibility and accessibility. Sometimes you get both in the same place, but not usually.
How much are you willing to pay for this location and what are the terms? How does that compare with other properties in your area? And how well does this location meet your business needs with things like work space, product display, and common areas. These are issues of affordability and livability. Again, you don’t usually get both.
Analyze each property based on these four criteria. Have others help you in the analysis and only move when you have a clear winner. Here’s a free Business Location Worksheet to help you do that.
In others words, don’t go with your gut on this one. With all due respect to Malcolm Gladwell, this is a time to think not blink.
