Q: What are the main points I should consider to chose the new location if I want to move my business?

A: I will assume that you have either

A Manufacturing Plant

You should buy a box of push pins and a fold up map of the area in which you are presently located. Pin it up on a wall, then put a pin where each of your key employees live. Then, pick a pin of a different color to show where you live. This last pin is the most important one for most businesses because it is the leader that makes a business succeed or fail.

From the above exercise you will be able to pick the ideal location.
Draw a circle of a few kilometers around this centre point and look within this area for your new plant.

Google Maps offers a digital version of this exercise.

Go to http://maps.google.ca, click the “My Maps” tab just below the “Search the map” field.
Click the “Create new map” button, and follow the instructions.
This is a handy way to consider several locations, and save each map so you can go back to it.

A Retail Store

First, you must answer a few questions:

– Do you want to keep the same clientele, type of merchandise, price levels, merchandising mix, phone number, employees?
– Is your business type an impulse purchase one or a destination one?
– Do you want more or less store area?
– How much storage space do you need?
– Do you want to get way from a major competitor that makes your life difficult?
– If you could stay in your present space (renew your lease), have you considered selling the business and moving away to a non-competing distance?

In both of the above instances:

– Look at the total of your occupancy cost (base rental, plus additional rental (TMI/CAM). A low rental rate is not a bargain if the additional rental is very high.

– Talk to your potential future neighbours regarding the location, the building and the landlord.

– Try to find out which other buildings the landlord owns. If he does, talk to some of these tenants.

– Find out the utility costs. If, for example, the building is poorly insulated, has single pane windows, your HVAC costs will be huge. If the lighting has not been retrofitted, before you move in ask the landlord to do it as part of his landlord’s work.