Moving from a home office to a commercial property is an exciting step in your business journey. Some of the key benefits of moving to a commercial property include the opportunity for growth and the chance to make your company appear more professional during meetings with clients. Moving to a commercial property may also have a significant impact on productivity and overall revenue potential within your business.
Relocating to a new property can be daunting, but there are plenty of ways to ensure that the transition is as smooth as possible.
Here are some useful tips on how to move from a home office to a commercial property.
How to Move from Home to a Commercial Property
Review your finances
The first thing you must do before moving to a commercial property is to review your finances and create a budget. This will help you determine how much you can afford to spend on buying or renting a commercial space for your business. Check your finances carefully and work out how much you can realistically afford to put towards monthly rent or mortgage repayments. You must make sure that you can cover the costs of commercial property over a long period and during times when the business may be slow.
There are various ways to finance a commercial property including small business loans, personal savings, and support from investors. Short-term loans are a popular way to get quick cash if you need to put down a deposit on a property.
Financial lenders, Alternative Bridging Corporation, explains how they “lend against the security of office buildings, retail units, and industrial premises.” This loan can be used to help you fund a new commercial space for your business.
Choose the perfect commercial property
Renting or buying a commercial property is a major investment, so you must take the time to find the perfect property for your business. You should weigh up your options carefully and choose a commercial space that will best suit your needs. Keep in mind that you don’t need to go from a home office to large commercial premises in one step. You could choose to rent a desk in a co-working space as a low-cost alternative to renting an entire property. This can be a great budget-friendly option for companies with a small number of employees.
Here are some of the key things to consider when choosing a commercial space for your business:
- Location – You should choose somewhere that is convenient for you and your employees to get to.
- Cost – Choose a property that is within your budget and be sure to factor in other monthly expenses such as utility bills.
- Technology – You need to choose a commercial space that has sufficient technology to support your business operations i.e. high-speed Wi-Fi.
Move over a weekend
It is likely to be impossible to work while trying to move to a new commercial property. It is, therefore, a good idea to take a day off work to move into your new commercial space and get everything sorted.
If you can’t afford to close your business for the day, then try to schedule your move over a weekend. Saturday and Sunday moving slots are extremely popular, so try to get your moving company booked as early as possible.