The decision to move a business to another location can be overwhelming. Whether moving from one commercial building to another or from your home to a commercial site, it is not a decision to be taken lightly. These considerations can help you determine if it is best for you to move your business or to stay put for now.
Why Do You Want to Move?
This has a lot to do with it. Is your building unsafe? Would it cost more to fix it than to get a new building? Do you want to build to avoid a rising rent payment? Is there competition that is more accessible to the public due to a better location? All of these reasons are great reason to move, but they are not deciding factors on their own.
This is the real deciding factor. A better building, more competitive location, or a lower rent or mortgage payment are great, but if you cannot afford it, it doesn’t matter. There has to be a careful cost-benefit analysis to determine if the financial outlay is going to be less than the foreseen benefit of the move. In addition to this analysis, finances should be reviewed to determine if the funds to support a move are even existent. This gets difficult, and sometimes a reality check is in order, if in fact the building is not safe and the funds are not available for a move.
If you determine that a move is the best thing for your business, Biz2Credit can help. We can help guide you through the process of finding a commercial real estate financing institution that is perfect for your situation. Our network of over 1,300 lenders range from traditional banks and credit unions to more traditional types of lenders, meaning borrowers of various credit backgrounds and financial means can find lenders and products right for them. Call (800) 200-5678 or visit Biz2Credit.com today to find out more and get started.