All businesses aim to grow and expand in the long run. Be it an expansion in terms of an increase in staff, additional clients, or acquisition of more equipment, it is important to always plan ahead on your space needs when your business grows. One option to consider is whether to expand your current office or relocate to a new location.
Here’s what you need to know about each option and how to make the right decision for your business.
Expanding your Current Workplace
When your business is growing, you may feel tempted to simply add more desks and chairs to your existing office space. This may be ideal for businesses that may negotiate a lower rent or better lease terms. Moreover, staying in the same building benefits your business to establish your location details to clients and customers.
While this may seem like a quick fix, it may not be the best solution in the long run. While it can be cost-effective and less work compared to moving into a new location, just expanding your office may mean sacrificing some of your existing amenities, such as meeting rooms or break areas. In the end, expanding your office in the same location may limit your ability to grow in the future. You may find your business eventually run out of space or have to move to another building altogether to accommodate your growing needs.
Relocating to a New Office Location
If expanding your current office location isn’t a viable option for your business, you may want to consider relocating to a new office location. This allows more flexibility in terms of space and design. Moreover, moving to a new location can give you the opportunity to rebrand your business and create a new image that reflects your growth and success.
However, transferring to a new location can be expensive, especially if you’re moving to a new city or state. You’ll have to pay for new furniture, equipment, and other office supplies as well as the cost of moving and storing your belongings during the transition period. The move can also temporarily disrupt your normal business operations.
The decision to expand your current office or relocate to a new location depends on your specific business needs and growth trajectory. If you’re experiencing rapid growth and need more space to accommodate your growing team, relocating may be the best option for you. However, if you’re on a tight budget or want to stay in a familiar environment, expanding your current office may be a better option.
Ultimately, the best decision for your business is the one that allows you to continue to grow while maintaining a positive work environment for your employees. When it comes to choosing a space for your business to grow, it is important for it to be a place that represents your vision and values.
Fitting out your office according to your needs and preferences is an important step in ensuring your success as a company. Work with a professional contractor that shares the same goal. Corebilt aims to transform your vision into reality through your workspace. Contact us today to learn more about what we offer.