It takes time to choose the right premises for your business. So if your business starts to get too big for the location you've chosen, it can be tough to swallow. The idea of possibly having to move your business might not be something you want to consider. However, it could also be the best way to deal with the problem. Fortunately, there are also other options available if you'd prefer to avoid having to move everything to a new space. Carefully weighing up your options can help you to work out what's best for your business and what your next step should be.
By Team Savant
Image: Kyle Nieber
Use Less Space
Before you make any big changes, you might want to think about why you have run out of space or your premises seem too small. Are there ways to use less space so that you can reclaim some of it? Maybe some of your staff could work remotely on some days, or permanently. Perhaps you need to get organised and get rid of some unneeded paper or other things that are simply taking up space. By reducing the amount of space your business is using, you can make it a better fit for your operations again.
Expand Your Existing Space
If you can't find any extra space in your existing premises, it doesn't mean you have to move out. One option could be to expand your current space so you have more to work with. This is obviously easier if you own your premises, but wouldn't necessarily be impossible if you rent. Mezzanine floors are an excellent way to expand a number of spaces, whether it's a retail store, gym, warehouse or any other business that's running out of room. You could also consider a building addition or adding extra buildings, whether temporary or permanent.
Move to New Premises
Sometimes there's just no way to make your current space work for you. If your business has outgrown it, you might need to seriously think about moving out. Finding the right premises to move to might not be easy, but it's worth it if you want the right place for your business to grow. When you're looking for someone new, consider perhaps choosing a place with more space than you need. You don't want to have to move again too soon, so allow for space to grow into as your business continues to expand.
Get a Second Location
Another option could be to consider a second location for your business. Whether it's another office, store, warehouse or something else, it could be a way to grow your business without having to move out of your current premises. This option won't necessarily work for every company, but it's a good idea if you're planning on expanding your business to multiple locations at some point. It might work best if you want to grow your retail store or have several warehouse locations to improve delivery experiences.
When your premises get too small, you have a few options that could work for your business. Each of them could work for you, depending on your goals.