Signs You’re Ready To Expand Your Business

Being a business owner is tough work, but it’s rewarding in the long run. You get to do what you love while helping customers and also be a part of the local economy. Eventually if you’re savvy enough and have a great product or service, there will come a time when you will need to expand from your existing startup location.

Not sure if you’re ready to take the leap and relocate to a larger space? Here are a few tell tale signs that it’s time to upgrade.

Signs It’s Time To Expand Your Business

1. No More Space Available. Do you have boxes piling up in the corners of your office? Is there no more space in the basement, or have you found yourself opting for off-site warehousing space? If so, then it’s definitely time to start looking at some commercial Real estate. Generally you will want to look for a building that’s 30-50% larger than your current one.
2. Goals Are Being Met. Every business owner has financial goals set in place, so if you’re constantly hitting yours year after year with some wiggle room to spare, then perhaps it’s time to check out some business Real estate listings. Whether you run a private practice or small boutique or a industrial corporation, there’s bound to be a listing that suits your needs.
3. Growing Industry. Did you join your industry at the right time and now it’s booming? If your competitors in the area are also growing their business, then it’s time to follow suit. Don’t be left in the dust just because your office or retail space isn’t large enough. You will be pleasantly surprised to know that your work output will greatly improve with a larger space.
4. Enough Funding. If you’ve got enough cash to make a down payment on a Real estate property, then why not bite the bullet? On the flip side, if you’re hoping to expand but don’t have the cash, then it’s probably not in your best interest to jump ship just yet. Talk to your business financial advisor or business partner about a short-term monetary plan.
5. Increased Number of Customers. Plain and simple: if your little coffee shop, boutique, brewery, or startup company is attracting too many customers to comfortably handle at a time, then it’s time to look for commercial Real estate. Customers always appreciate when a business upgrades to a larger space because that means more employees to handle the demand.

Does your business meet the criteria for needing a larger space? If so, contact our commercial Real estate agents in the Boston area today and we’ll recommend the perfect space for your needs.