Companies grow, shrink, change, and sometimes move. Especially during the current era of uncertainty, many businesses need extra help when it comes to financing moves and downsizes. Many business owners eventually come to the realization that they need to move their companies. These changes can happen for a variety of reasons, including the need to procure a smaller space. However, downsizing doesn’t necessarily mean that the move will come with a low cost. Practice some methods to save money as you move your company to a more suitably sized location. Here are a few tips to get you started.
Have a Sale
Depending upon the products and services offered by your business, you may have the ability to host a sale for customers. The office may be currently teeming with superfluous items in stock that aren’t going to make the trip to the new location. A sale is a great way to maintain rapport with current customers as you make the move. Furthermore, the lower price tags on some items can encourage new customers to check out the inventory and to follow you to the new location.
Donate Unneeded Items
Once the sale is over, you may still have some items that your company simply no longer needs. Paying to move such items to the new location is likely a waste of money, and simply throwing the products out is a waste of resources. Chances are that you can find a place in the community that is in need of donations. In addition to saving expenses on your move, you are also helping out people in the neighborhood.
You should not require your employees to stay late or come in early to help you to move the business to the new location. However, you might reduce the workload during the day so that employees can pack up their own desks. As you prepare to move to your new office space for rent, you could also pay employees more to add some extra hours on to the day to help with the project. By running the numbers, you may discover that hiring a moving company is the more expensive option.
Procure Loans with Caution
When you need funds to pay for the move, your first instinct might be to take out a business loan. Keep in mind that if you are downsizing the business, the level of profit that the company brings in might decline to some extent. Don’t base your ability to pay the loan back on your company’s current earnings. Instead, take a good look at what the projected earnings will amount to in the new location.
Downsizing can certainly prove to be the right move for your business. During the process, you want to make sure that you don’t spend excessive funds.
Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most of her time hiking, biking, and gardening. For more information, contact Brooke via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan