How Your Business Can Survive Opening a Second Office

December 27th, 2018 | by Anica O
How Your Business Can Survive Opening a Second Office
Business
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Expanding your operation into a second office space is an exciting endeavor, but it likewise can be stressful and challenging in various ways. Growing pains are unfortunately common for businesses across all sectors and niches. However, you may overcome those pains and maximize the benefits of business growth when you use these tips to expand into a second office.

Prepare Financially

Setting up a second office may eventually lead to enhanced profits, but it requires a substantial outlay upfront. Consider that you must cover all expenses related to renting or purchasing space. This space may need to be retrofitted to meet your needs. Additional furniture and equipment are required, and you may need to hire at least a bare-bones staff to operate this second office. In addition, your company will need to absorb a second set of operating expenses regularly until the new office produces enough income to cover its own expenses. While you may open a second office with minimal staff, you may expand the size and functionality of this space over time. With this in mind, you may need additional funds to get the office up to full speed even after it has opened.

Take Advantage of Modern Technology

You also need to consider daily operations. How will your existing office team interact with employees in a new office? Using modern technology is essential. For example, you can invest in an NEC cloud phone system for easy communications. Video conferencing, cloud-based file sharing, online project management applications and more may all be used in different ways to promote collaboration and overall productivity. Research and implement the use of these technologies before your new office opens for business.

Develop a Strategic Plan

The matter of establishing the new office and transferring at least some current projects, departments and more to a different location must be planned strategically. Consider what operations will be completed in the new office space. Then, think about how you will seamlessly transfer those operations to a different space. A focus should be on containing cost while eliminating a negative impact on customer service, operations and more.

These are among the primary factors that must be analyzed in order to open a second office with minimal disruption to operations or related stress. As you apply these tips to your efforts, remember to pay ample attention to each minor factor that arises. Through careful planning, research and hard work, you can successfully open a new office and enjoy growth and profitability going forward.