3 Tips for Small Businesses Ready to Expand
It feels really great when your business starts gaining traction, and you start getting the client boost that you strategized and projected when you were setting up your business. However, this expansion also comes with its own set of challenges. For instance, when you start getting a steady flow of new business, you will need to hire more staff to handle the growth, and this will probably mean you have outgrown your business space.
As part of this growth, you may have to hire new employees. Growth may come due to customer reviews. According to experts, "in the age of internet search and e-commerce, customer reviews are the virtual word of mouth that could make or break your business. Not only do they provide you with valuable insight into the performance of your business, but reviews give potential customers proof of how you will treat them."
Lots of time when businesses feel it's time to grow and expand, they can sometimes overstep or understep themselves. Here are three of the most important tips to remember when looking for space to expand your business into.
Don’t be Afraid of Large Spaces
There is one fear that keeps most business owners from the level of business growth which they deserve, and that is the fear not knowing how much office space is appropriate. Busines s experts explain , “You need to carefully calculate how much office space you need, so that you’re not getting too much or too little for your budget.” Many business owners are afraid if they rent large business premises, they will not manage to pay the rent and even if they do, they will be paying too much for some extra square footage they do not need. The opposite fear can be true. They may be so afraid of moving to a new place that they stay at their old one, fundamentally stopping themselves from growing out of fear. When your office is spacious, it creates the impression that you are open to growth for your clients. Second, having your staff work in overcrowded spaces is not ideal for them because it restricts them and redu ces their productivity. Not only that, there are many transitionary office models that could fit your business better than choosing too big or too small.
Consider the Needs of Your Business
Most of the times, and for people that start manufacturing companies, it is normal to see them running the enterprise from a small space such as a converted garage or a makeshift shed. These are all good when starting out, but when the orders get to the point where even the storage is not enough, you will have to think about expanding production space and also commercial warehouse solutions to make it possible to serve your increased customer base. Outsourcing to an ecommerce, fulfillment, or an automated warehouse solution makes sense if you’re falling behind on your fulfillment. It could even be that you aren't quite ready to expand yet. Developing your corporate strategy is a vital part of any growing business. If you reevaluate your plans and the numbers don't add up, then it's unwise to expand into bigger space before your business actually needs the boost. It can result in extra costs that can make your business more difficult to run. Be careful and expand only when the time is right.
According to w arehousin g experts , “often entrepreneurs will try doing it all on their own, some out of their own home or office, while others rent space in an effort to set up a warehousing system, which requires them to essentially now master two industries—their own along with warehouse and logistics management—and often both suffer in the end.” It could be a good solid move, especially if you’re already busy, since you don't have to worry as much about that particular part of your business, it's being managed, and you only need to check in every so often.
Choose Your New Location Carefully
While moving your business from one location to the other could seem daunting, expansion should be an exciting time of growth and opportunity. Choose a location which will best enhance the productivity of your team and at the same time, one where your clients will access without a hassle. This articl e recommend s , “consider accessibility, security, competition, business rates, skill base, and potential for growth when deciding on a business location. Forgetting even one of these can cause dramatic problems in the future.” Sometimes, you find that when you decide to go for rental space, the location is more strategic than if you were to try and buy vacant space to develop.
These are the three considerations to make when the time comes to expand your business. It is advisable to look for a number of rentals to compare and contrast, and finally settle on the one that best suits your business needs.

