Expanding Into New Areas

If your company offers a service that involves regular face-to-face meetings with customers

, a local presence will be necessary in every part of the country that you wish to operate. Businesses of this nature often grow more slowly than those that do not need to maintain a local presence in order to attract new clients, mainly due to the additional costs involved. However, with careful planning it may be possible to lower the cost of expansion and minimise the financial risks involved with opening new branches.

Doing Your Homework

The first step is to establish whether there is a demand for your services in the areas that you are considering opening a new office. Assuming that this is indeed the case, you can then think about what equipment and facilities your employees will need to carry out their duties effectively. Once you have completed your assessment and have a good idea of what is needed to give your new venture the greatest chance of success, you can move on to the next stage.

Finding New Premises

This is the most critical stage as far as costs are concerned. All the planning that is done prior to finding a suitable workplace will be in vain if you do not make sure that the expenses involved are not kept under tight control. In addition to making sure that your rental costs are reasonable, it is worth trying to find a flexible solution that will allow you to make a tactical withdrawal if your sales projections turn out to be overly optimistic. The serviced offices Windsor and other parts of the country are worth considering as they are often available on short term contracts, which makes it easier to react to changing market conditions.

Renting from a company that provides administrative and technical support staff as part of the package also means that you will not have to hire full-time employees to carry out these functions, which could save your company a significant amount of money. While it may be more cost effective to hire your own staff in the long run, such an approach allows you to test the waters in new areas without committing too much money in the first instance.

Consolidation

After enough time has passed to allow you to judge whether your new venture is profitable, you may like to consider your long-term strategy. Some companies find it easier to stick with serviced offices, whereas others are keen to move into a permanent workspace that allows them greater control over their environment.

A good compromise in some cases is to find an executive property management company that offers branded space to commercial organisations. This type of space will allow your firm to establish a corporate identity in new premises without having to rent an entire building or enter into a contract that runs for a number of years. The cost of new signs in public areas of the building and at the entrance to your corporate suite is often included in such packages.

by: Matthew

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