Tips for Moving a Company: How to Find the Right Location

Is your warehouse bulging at the seams? Are you looking to lower costs? Is your company looking to reach bigger and better markets? If you answered yes to one of these three questions, then maybe it’s time to relocate your business. If you are in the market for new commercial real estate, then you will benefit from our planning tips for moving a company.

Helpful Planning Tips for Moving a Company

There are many factors to consider when a company begins to think about a business relocation. Business owners must balance many pressing concerns, including: is the desired location more important to the business owner than the expense or vice versa?

Location vs. Expense

In real estate, the size and type of building you lease or buy is not the only expense. Cost of living can vary depending on the neighborhood’s tax rate. Nassau County typically has a higher tax rate than Suffolk County. One of our tips for moving a company is that owners should calculate how much they are willing to pay for a great location. While a prime spot on a busy street might mean everything to a restaurant, it might not be as valuable to an auto mechanic. When choosing a new location, know what to look for. Business owners should select a location that suits their type of business.

Office Space, Retail or Warehouse?

If you are looking for new commercial real estate, you are in good company. Even Mark Zuckerberg can relate to your struggle. Every successful startup that started in a garage, eventually graduated to bigger and better commercial space.

Once you have decided to move to a new location, other choices must follow. One of our tips for moving a company is to exercise all available option first. Could your business benefit from leasing or buying office space, retail space or warehouse space? It’s important to make this distinction before you get too deep in the process. Another important distinction is whether your business would need modern facilities or older facilities. There will likely be a big difference in price, so be sure to understand what you need in the planning process.

Convenience

When choosing a new location for your business, another thing to consider is if the location is easy to find. You will likely pay more for a location on a main street, but it may be worth the price if it is better for business. You should also take into account whether there is available parking for both customers and staff. Another one of our tips for moving a company is to research accessibility via major roads and highways. This is critical for both customers and employees. In addition, don’t underestimate the importance of adequate nearby parking spaces.

Competition

If you are planning to relocate your business, you should also research the neighborhood to see if there are similar established businesses in the area. Too much local competition can cause problems for a relocating business. Before picking your new location, do an informal survey of local businesses in your industry to see how your company stacks up against the competition.

If you are considering residential or commercial space, choose Long Island, because compared with other regions, Long Island real estate offers the best suburbia has to offer just a short train ride away from the world’s biggest city. If you are interested in commercial or residential real estate on Long Island, please call S&D Real Estate at 516-248-6905 or 631-761-9220.