Establishing a business requires a simple dream and lots of dedication. Expanding it takes even more determination that few people have. Only a select few then get to survive the fierce competition in the business world. If you are one of these people, well, congratulations!
Your business is thriving. Things are doing so well, maybe even better than you have imagined. But amid all the celebration happening, have you stopped to consider the butterfly effect that is likely to occur?
It first shows after your company has grown to much better opportunities. Typically, heavier workloads and more clients to deal with will result in hiring new employees. At this point, the current space you set up for your business might no longer be enough to accommodate your venture’s exponential growth.
That is perfectly fine since there are several solutions out there depending on your preference and budget. If expansion is not an option for your current space, do not worry. It is possible to relocate and renovate, or even build anew.
Relocation and Renovation
All options share similarities. They will all take a while to reach completion, but the time frame is different depending on what your business will need in your new space. Aside from this, some of the initial steps are present for both renovation and new construction, regardless of location, be it in Portland or Los Angeles.
Among the few are finding a new space, either an existing building or empty lot, hiring contractors, employing Portland building commissioning, and making plans and setting budgets.
Following logistics, the process then diverges into different paths. Renovations typically take less time to finish compared to building from the ground up. The process of renovation varies, but it is usually done by refitting the interior to suit the needs of the new tenant. This option is ideal for businesses that do not have adequate funds.
Companies that can find a building to move into can do so, but this limits the time spent on renovation since work will occur at nighttime or weekends. Take note that while renovations tend to be faster than new construction, the progress may not meet the expected timeline since delays may occur due to various reasons.
Constructing a new building takes more time. It is ideal for companies who are more financially stable. Building anew allows you more freedom in building design and structure, amenities, and even energy efficiency.
Moreover, this option is great for businesses that do not need to move in immediately. Your business can operate as usual in the old space, while contractors and laborers are all working to complete your new building.
Given that all options each have their advantages, they are all suitable for businesses that need larger spaces but cannot expand any further in their current space.
The decision will ultimately depend on your hands, the business owner. While you do not have the expertise when it comes to building improvement, you can listen to the advice of professionals. This information, paired with your knowledge of what is best for the company, can help you decide wisely.