We’re going to assume that you didn’t get this far in business without some financial savvy. Making a success of a company is all about knowing how to increase profits and spend less.
No one sees results before getting their head around that. You can bet that a determination to make more is behind near enough every business decision you make. Including when to relocate.
The sad fact is that few of us can afford spacious offices when we start. As such, we have to settle for less than we would like to get ourselves off the ground. Once that happens, you may consider moving into a larger space so that you can grow your company further.
The issue is, commercial real estate is no cheap investment. If you aren’t careful, you could spend all your profits thus far trying to afford a larger office space. That’s sure to leave you back at square one, with a hefty building to maintain at the same time. That’s a worrying situation for obvious reasons.
But what if we were to tell you that it’s possible to relocate without spending a penny of your profits? Keep reading to find out how.
Use the profits from your previous property
If you have a commercial property to sell, the money you receive should at least cover a large part of your new office. If you strike lucky, you may even find that you can near enough cover your costs this way.
At the very least, the profits you make should be able to secure you a mortgage on that new commercial space.
As easy as that, you’ll find that you can move somewhere larger without even having to dip into your profits.
Estimate future income
Even if you have to spend an upfront amount to get the space you want, you could see that back and more if you get this right. As such, you still won’t have to spend anything in the long run.
The best way to make sure of this is to work with a lawyer who oversees commercial real estate transactions. By doing an income potential valuation, they can let you know how much you stand to earn, and when you can expect to see it.
With help like that, you could consider an investment like this a loan from yourself, which you can soon pay back.
Take on new staff straight away
Of course, one of the main reasons for relocation is the potential to take on more staff. With more staff, you can earn more profits.
That’s why you should employ new team members the moment you get the keys to your new office. Again, this does mean putting money forward to start with, but it’s a temporary measure.
By expanding your team the moment you set foot on your new property, you can see that money back in your account within no more than a year. Just like that, you will have moved for no cost at all.
Are you looking to relocate your business?