Operating a business in an undesirable area may be difficult. With this, many entrepreneurs may consider relocation to potentially generate higher revenues. Money is the driving force behind relocating. However, it is important to be prepared for the transition. Here are a few tips to keep you on track:
Update Your Business Plan:
Your business plan should be written for your current location. If you are considering relocating, it is best to update your business plan to reflect any potential changes.
Communicate with Your Employees:
Communication is an essential part of running a business. When considering a relocation, it is important to gather insight from your current staff and to keep them informed about the process. It is also best to seek advice from your current employees, as they may be more knowledgeable about logistical factors and their potential impact on your business.
Review Your Lease Agreement:
When moving your business to another location, it is important to review your prior lease agreement and your future lease agreement before locking into a contract. Is there anything in your prior lease agreement that would hinder your relocation efforts? Are there any conditions in your future lease agreement that can potentially cause a problem? It is imperative that these questions be addressed before signing a new lease.
Use Social Media to Your Advantage:
Social media platforms are great for informing your current customers about your pending relocation. It is also a great way to advertise to prospective customers near the new business location. Advertising a “grand opening event” on social media with giveaways and prizes may entice people to visit your new location as well.
If you are considering moving your business to a new location, it is best to contact an experienced commercial law and business transactions attorney to guide you through the process. The skilled attorneys at Martin Grossbach, P.C. are knowledgeable and experienced in handling a range of business law matters. For more information or to schedule a consultation, call the attorneys at Martin Grossbach, P.C. at (914) 631-6666 or to fill out our contact form.
