There are so many things to think about when expanding your business or starting new company. There will be many difficult decisions for you to make and there is a lot of preparation and planning involved. Here are a few questions you should ask yourself when opening a new business location.
Is it affordable?
There many costs involved with opening a new location, and it’s important that you factor them into your plans. You’ll need the capital for the construction/rental of the new building. There will also be utilities such as electricity, water, central heating, internet, telephone, and you’ll have to think about taxes, permits and insurance. You’ll need to factor in employee wages, marketing and advertising costs, and stock.
Am I Picking the Right Location?
Picking the right location for your business isn’t easy. You’ll have to weigh up the pros and cons of renting a shop/retail space or building one, and know if there is the demand for your services in a particular place, and do competitor research.
Once you’ve selected the location you want to build your premises, you’re going to need access to the site. You’ll probably need to check out websites like NorthernMat.ca that offer access mats, which will make getting to the site of your new premises much easier.
What Storage Solutions Do I Need?
Whether you’re opening a second location or moving, you’re going to have to put your equipment somewhere. You’ll have to think about industrial equipment storage while you open your new location. You’re going to need safe and efficient storage solutions. Figure out what solution would be best for you, e.g., racks, shelves, boxes, containers, coil racks, pallets, storage lockers, and cupboards.
If you don’t have the space for larger equipment, you should consider keeping your equipment in off-site storage until you need it. Most industrial storage companies will include transportation of machinery and equipment to and from the storage facility, offer short-term and long-term storage plans, allow you to repair and maintain your equipment on-site, and have 24-hour security.
Am I Prepared on Opening Day?
Make a big deal out of opening day by hosting an event to launch the start of your business and generate a buzz by making a great first impression. Get some local media coverage and invite people to come and check out your business. This is a great chance for you to build up your business and connect with future customers. Get to know them and answer any questions they might have to put their minds at ease. Reward first-time customers with a discount voucher or a free sample of your products or services. Use this opportunity to show that you’re an integral part of the community and show them how your business will benefit them. Hosting a launch event will also allow you to do some market research and networking.
Be prepared for some things that do not run as smoothly as planned. You’re bound to hit a few bumps in the road, but once you establish the issues, they’ll be easily fixed.
Is the Premises Safe?
Remember you need to lay a big focus on health and safety in your premises. Whether that’s for staff protection, customer protection or the protection of anyone visiting your store or space. Make sure that you have fire exit signs, fire extinguishers, smoke ventilation systems, warning signs for low ceilings, steps, wet floors and more.
Have I Reached Out to New and Existing Customers?
Let new and existing customers know that you’re opening a new location. Target your customers with newsletter notifications, keeping them up to date with what is happening and letting them know what your future plans are. Utilise social media by posting regular updates, offers, discounts, giveaways, and using it to promote your business, products and services in general. You should also consider using link building services to improve your search engine ranking through search engine optimisation (SEO).
Don’t underestimate the power of word-of-mouth. People are more likely to take the recommendations of their friends, family and workmates more seriously than advertisements. If one person has a positive experience, then they’ll share information about your brand with others and the news will likely be passed on again as more people use your products and services. This kind of good publicity is just what you need to keep your company going. And best of all—it’s free!
There are plenty of other things that you should be prepared for. Make sure that you have a list of them so that you are well organised. All the hard work will be worth it when you see your business flourish.
Image Credits: Cadeau Maestro