Different states are more favorable to small businesses, and the idea of relocating your business to one of these states may seem attractive. However, relocating an entire business is a major decision with many factors to consider. Check out these four important steps when you relocate your small business to a new state.
Create a Moving Plan Early
Before the move, create a thorough moving plan to help make the transition as seamless as possible. One of the major aspects this plan should cover is how long the move will take. Can you simply pack up and relocate your business in one weekend, or are you going to need to keep both the old and new locations open for a short time and you slowly transition? This will increase your moving budget, but it may be necessary.
A second big factor to consider is your staff. Will some of them be following you to your new location, or are you going to need to hire a completely new staff? If you do need to hire new staff, you'll want them ready to start working as soon as you arrive in your new office, and you need to decide how to get them trained. To prevent the need to find and train new employees, offer incentives to employees who move with you, such as paying for moving costs, or allow employees to telecommute to work.
Decide How You'll Move
Next, you must decide how you're going to move. Hiring professional movers to move some of the larger equipment and furniture is a great idea, but you'll need to pack the little items yourself. Renting or purchasing storage bins is a great way to help organize and keep items together. For example, pack all the items from each office in the same containers, which makes unpacking immensely easier. You can purchase these containers from a distributor like Quantum Storage.
Even if you do hire professional movers, you may want to move sensitive material yourself, such as employee personal information and confidential company information. To help cut back on how much you need to move and to save money, donate or sell some of the items you no longer need but haven't gotten rid of yet.
Communicate the Move
Letting people know you're moving your business to a new state is a huge step that you cannot ignore. First, make sure your employees know you are moving well before the actual relocation. Relocating your business to a new state is a huge change for employees. They'll need plenty of time to decide if they can make the move too, or if they can't, to find a new job.
Of course, you have to let your customers and vendors know you're moving too. If you're just moving a couple miles to the next state over, you may be able to keep some of your customers and vendors. Either way, however, you have to give them a heads up. Send out a newsletter to customers' email addresses and post it on your website and social media. Don't forget to update your online profiles to reflect the new address so people can find you.
Make the Necessary Legal Changes
A new state means new laws and regulations. Before you move, make sure you understand the laws in your new state that impact your business. You may even have to change the way you do some of your business. You want to include these changes in your moving plan, so that everything is compliant as soon as you reach your new location.
You'll also need to re-register your business with the new state. Depending on your type of business (LLC, corporation, etc.), there are different steps you'll need to take to ensure your business continues to follow tax regulations in your new state.
Whatever your reason to relocate your small business, it requires a lot of work to make it go smoothly. These four steps are just some of the more important factors to consider when making the big move. If you're considering moving your business, get started today by crafting a dynamic moving plan.
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