When business is good, growth is inevitable. And believe it or not, finding productive ways to expand your business operations is a good problem to have. However, when any company is in the process of expanding their capabilities, one of the biggest hurdles that occur is making the decision to expand their current workspace through commercial tenant improvements or picking up and moving to larger and more adequate operating facility.
Improving Or Moving: What Are The Benefits?
There are benefits to both including:
Staying in Existing Location and Expanding
When your company is growing, and you’re considering whether to stay in the current space, there are several reasons why you might want to consider expansion above moving to larger facilities:
- Expanding your current workspace allows you to maintain current workflow. The biggest problem with moving is the logistic nightmare that often comes with shutting down operations, moving equipment and servicing your current customers. And in today’s competitive marketplace, if you can’t continue to fulfill quality service and products to your customers on time – they will find other options.
- Creating commercial tenant improvements allows you to reduce costs. Another benefit of expanding your current location is cost. If you are located in a commercial building with multiple suites or office locations, simply adding onto the current location is much more affordable than moving into new facilities. And although the cash flow might be solid right now, the last thing any business owner wants to do is increase their operating costs significantly.
- When you upgrade your current facility, you don’t have to make ancillary changes. It might seem small, but many business owners never consider the hassles that come with changing contact information (such as business cards, online websites and directories). When customers (new and existing) want to reach you, they depend on posted addresses and phone numbers to be able to contact you easily. And when you up and move, all this info needs to be updated quickly. Again, it might seem insignificant, however many customers will choose other vendors or suppliers that are easy to contact vs. ones they have to aggressively search to locate.
Moving to Different Locations
As your company grows, you might want to consider moving into a new and larger facility. Some of the advantages of this option include:
- The ability to start fresh with additional room to grow. By moving to a larger facility, you’ll be able to consider additional growth if business continues to expand. And although this is a highly positive way to conduct business, the truth is that it’s often difficult to predict business growth – especially in today’s competitive marketplace.
- The flexibility to create customized workspace. Another ancillary benefit to moving to newer locations is the flexibility to create a workspace that is highly efficient and can often lead to higher productivity.
- The opportunity to move to a better location to service customers easier. Finally, when you move to a larger and new facility you often have the flexibility to move to a better location that allows you to service customers easier.
As you can see, both options offer several advantages. However, at the end of the day, it is much more convenient and economically advantageous to grow in your current office space if possible and choose commercial tenant improvements. The key here is to ensure you work with a qualified and reliable general contractor that will work with you to streamline productivity, reduce operating costs and minimize operational downtime; permitting your company to continue working and taking care of your current customer needs. Regardless of what option you choose, always make sure to contact a professional general contractor that will work with you to choose an option that is most advantageous for your company.