When relocating your small business, there are many more costs to factor in than just the rental costs. Here are some of the immediate costs of business relocation to make sure you don’t overlook.
1. New Premise
Budget for the deposit, broker fees, closing fees, move-in fees, cleaning fees, and costs for re-configuring the space. Don’t forget to budget for a lawyer to go over the new lease!
2. Moving company costs
You might think it is cheaper to move your business yourself, but it can cost you a lot in downtime and damaged equipment. Have several moving companies come over to your business and give you estimates.
3. Insurance
Catastrophes do happen during moves. The last thing you want is to have all of your valuable equipment destroyed in an accident and have no coverage for it. See if your business insurance covers relocation, or take out additional coverage. The standard coverage offered by moving companies won’t be enough!
4. Utility termination and setup fees
Once you know you are relocating, contact your utility providers and find out if they offer service in your new location. See how much it is going to cost to terminate any services and set up services in the new place.
5. New furniture
Measure all of your furniture and equipment. Then use a software program to come up with a floor plan in the new space. Chances are you will need to get rid of some furniture and buy new furniture.
6. Website and SEO management
If you don’t have in-house resources to deal with this, then you will want to have a SEO professional ensure that you website information is updated across the web with your new address and phone number.
7. Marketing the move
Business relocation is a great marketing opportunity. Market the grand opening by having special sales or incentives. Make sure you market to your old customers and give them a reason goes come visit you so you don’t lose them!
Immediate costs of a small business relocation
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