Relocating your business is an exciting time. The new ventures and business connections that await you there seethes with untapped opportunities – you can almost feel it! But before you take that plunge, there are a few things you should consider.
For example, on a personal note, we recently moved our business from Temecula, California, to right outside of Charlotte, North Carolina…and it was one of the best decisions ever! A lot of thought went into this decision, and it wasn’t an easy one. We had to lay out the pros and cons of this move.
This blog post, we’ll share some of the most important factors we considered when moving our business. We’ll also provide some helpful tips on how to make the transition as smooth as possible. So if you’re thinking about making a move, read on!
#1: Consider your business model.
One of the first things you’ll need to consider is your current business model. If most of your business is done online, then you have a lot more flexibility when it comes to location. However, if you have brick-and-mortar locations or rely heavily on foot traffic, then you’ll want to be sure that your new location can provide that same level of business.
If your business model doesn’t allow for a lot of flexibility, then you’ll need to be sure that the new location can provide what you need. Before making a decision, ask yourself the following questions:
– How much business do I currently do in-person?
– Do I need to be in a specific city or state to reach my target market?
– What are the business and licensing requirements in the new location?
– How will the move impact my employees?
– How will the move impact my customers?
– What are the cost implications of moving my business?
These are just a few of the things you’ll need to consider. If you’re unsure about any of these factors, it’s best to speak with an attorney or business consultant who can help you make a more informed decision.
#2: Do your research on where to go.
Moving your business is a big decision and it’s important to do comprehensive research before making any final decisions. This includes researching the new location itself, as well as the business and licensing requirements. You’ll also want to research the cost of living and doing business in the new location. And if you have employees or customers who will be impacted by the move, be sure to reach out to them for their thoughts and feedback. The more information you have, the better equipped you’ll be to make a sound decision.
We’d also strongly suggest researching what the lifestyle in your new home will be like. Most likely, it’s not just your business that will be moving, it’s you and your family, too! If you’re currently living in a more rural area and you’re going to move to a city, how will that impact your family? Will you live in a house or an apartment? Where will your kids go to school? If you’re a city person and are moving to the suburbs, how will you like the transition? Your business thrives when you’re thriving, so it’s especially important to consider the personal implications as well as the professional ones. A big reason we chose Charlotte for our move was the personal factors on top of the business ones, and we’re so glad we considered it all before making the move!
#3: Have a plan for the transition.
Don’t decide to move to a new location and do it without a plan for the transition, especially if you have current clients and employees. A smooth transition is key, so take time to map out what needs to happen before, during, and after the move – and don’t forget to consider the personal tasks, too. If you’re overwhelmed with finding a new house or a school for your kids, then how are you going to focus on your business transition? Make sure you have a timeline outlining all of the tasks that need to be completed and who is responsible for completing them. And don’t forget to budget for any potential delays or unexpected expenses. By having a plan in place, you’ll minimize stress and ensure a smooth transition for your business.
#4: Familiarize yourself with state regulations for businesses.
When moving your business to a new state, the rules and regulations change drastically for businesses, so doing extensive research on this is super important. We’d suggest working with a legal professional or CPA to understand exactly what implications the move will have on your business. For us, it was a largely positive move. The taxes in Charlotte, North Carolina are more business-friendly than those in California, and that was a big consideration for us. But imagine if you’re moving from North Carolina to California and you haven’t thought through the financial and tax implications! You’d be in for a big surprise. So again, do your research and make sure you understand the business regulations in your new state before making the move.
#5: Don’t be scared to take the leap.
Yes, moving your business to another state is a big decision with some inherent risks. It takes a lot of hard work, dedication, planning, and courage. But it can also be an incredibly rewarding experience for you and your business. Just make sure you do your research, have a solid plan in place, and are prepared for the potential challenges that come with making such a big change. If you take the leap with your eyes wide open, then you’ll be in a much better position to succeed. And who knows – maybe moving your business will be the best decision you ever make!
If this blog post has inspired you to move your business or if you’re currently in the process of moving your business, we’d love to hear from you! Share your story with us in the comments below or reach out to us on social media. We wish you the best of luck with it all.
And if you want to know exactly why we decided to move from California to North Carolina, check out our tell-all on it here: Why I Moved my Marketing Agency from California to Charlotte, North Carolina.
Happy evolving!
