Month: January 2013
Last week we began the discussion of renovation vs. relocation during the corporate expansion process. There are several questions that need to be asked and subsequently answered before deciding whether to relocate to a new office or to renovate your current workspace. To simplify the decision-making process, D.J. McGauley & Associates has prepared a checklist of questions that you should consider. The list continues below…
4. How will the expansion affect your bottom line?
Whether you relocate or renovate, you should first calculate the monthly costs it will entail. Will relocating increase your basic costs? Will renovating be more costly for your business in the long run, in terms of maintenance, because of the increase in lease?
Carefully evaluate which of the two options will increase the efficiency of the employees, offer better access to workers, and improve the visibility of your business among several other factors. It all boils down to how it will affect your bottom line, given the interplay of expenses and projected earnings.
5. Do you want to tweak or complete re-brand your company image?
The avenue of corporate expansion you choose will ideally affect your customers and clients as much as it will affect your employees. Many businesses have strategically chosen corporate relocation to jump start their company’s image. This relocation is just one of the many changes they undertook—along with offering new products and services, changing their vision, and sometimes, even changing their names! If you want a fresh start in the truest sense, then a corporate relocation may be exactly what you need.
On the other hand, some companies are reluctant to take such a measure but at the same time express a desire to contemporize their workplace and improve its layout, energy efficiency, and technology. This is where renovation is a more viable option.
6. Do you want no disruption to your operations?
Whether you choose renovation or relocation for your corporate expansion, you can’t lose sight of your business goals—the achievement of which is the entire reason why you’re expanding in the first place. For this reason, you need a corporate relocation and renovations specialist that will ensure that the expansion will go smoothly and will take into account the achievement of all your organizational goals. D.J. McGaulay & Associates will do this, and more; it will also help you understand your new facilities better and provide the assistance needed for post-relocation or renovation.
As companies become more dynamic and globalized, corporate expansion is inevitable. Corporate expansion usually involves either the renovation of the workplace or relocation to an entirely new facility. Both corporate relocation and corporate renovation can not only allow a company to meet the growing demands of the business, it can also encourage the workforce to move forward and achieve their goals in a better, more suitable environment.
At D.J. McGauley & Associates, we are often asked by our transitional clients to offer advice on whether it is time to renovate existing office space or relocate to a larger corporate facility. While the choice is ultimately yours, and each situation is unique, it is important to look at both sides of the coin before making such an important and game changing decision. This is why, over the next two weeks, we will be looking at factors that might help you decide whether it is time to renovate or relocate your office space.
1. Are you planning to have an expanded workforce?
If you’re planning to expand and hire a number of employees and the floor area of your current workplace cannot possibly accommodate your target number of employees, then it’s time to relocate. Otherwise, your expanded workforce will have to cram themselves in a tight office space and your business will suffer from decreased productivity. It is also imperative to find the perfect potential new space that fits your budget and at the same time will allow all your employees to comfortably work in their own spaces.
2. Do you want to improve your operations and systems?
The workplace environment is a major factor in employee motivation. If your current workplace is shabby, poorly lit, and/or made of subpar materials, what you likely need is a redesign of your office space—in which case you might want to go for a renovation.
A renovation is also in order if you want to upgrade your furniture and appliances, as well as the systems and technology required to perform employee tasks. It is important to set clear goals and outlines in order to integrate new equipment and systems into your current office structure seamlessly and with as little downtime as possible.
3. Is location a primary consideration?
For one reason or another, you may not be satisfied with the current location of your office. Maybe it’s because the location is not accessible to your target market, clients or expanding workforce. Perhaps it’s not near to your suppliers. Another reason most businesses cite is that they simply want to be in the central business district. For example, if you started your business in a small plaza on the outskirts of Toronto but you’ve always dreamed about relocating to that downtown Bay Street location, it might be time to realize your dream instead of putting your money into a renovation. In other words, if location is a primary factor in your corporate expansion, then corporate relocation should be your choice.
Still haven’t made up your mind? Tune in next week while we continue this discussion with a few more important points to consider.
Many people do not realize the full scope of a corporate relocation specialist’s abilities. Did you know that corporate relocation companies will expertly handle a lot more than office moving? For example, D.J. McGauley & Associates will help not only relocate corporate space but also renovate and/or expand your existing corporate location.
Renovation services you can expect from the consultants at D.J McGauley & Associates include:
- Practical, cost effective and attractive design options that maximize the use of your current space.
- Furniture solutions and options that fit your needs and budget.
- Modernization and updates that fit your corporate image, client base and employee needs.
- Maximizing light and air quality while promoting worker health and ergonomics
If your company is considering renovating or expanding your existing office space, make the consulting team at D.J. McGauley & Associates the first call you make. We have the experience and the know-how to make your corporate renovation in Toronto or surrounding area a glitch-free success.
For more information about why you should call a corporate relocations specialist, read our last blog post, Does the Success of Your Corporate Relocation Rely on Who You Know?