Relocating your business might open doors of opportunity for your company. But before going for the big move, you may need to polish some things that would help make the relocation as smooth as possible.
To know what the factors you need to polish are, you must ask yourself these questions first:
- What do I know about the new location?
Moving to an unknown territory can be terrifying, especially if you don’t know anything about it. Lessen the fear by doing a research about the location. The research should include important details about the location and should go as in-depth as knowing the laws and rules that would concern your company. To start with, you can consult with international relocation companies in Dubai to know these things. Have them submit an initial research and do a research on your own. Combine the facts and let the whole team review the information.
- What is your business plan?
Before you do any move, you and your team would need to have a solid business plan. Some companies opt for safer option of testing the waters before they proceed with the big move. Once it is proven that it is feasible, then the planning starts. The business plan should cover all the details of the move – from the purpose, costing and budget and how it is going to proceed. Moving an entire headquarters might be overwhelming so it is ideal to do it in phases. Do not proceed with anything until the plan is complete, polished, and approved by key personnel. Without a good business plan, expect chaos and confusion during the move.
- Do you have enough funds to move overseas?
Part of the business plan is the budget allocation. You need to ask the whole team first: Can the company cover the whole move without compromising the financial stability of the company? Once this is answered, you can proceed based on the financial standing of the company. If you need more time to gather funds for this move, then make adjustments with your timeline. If you have enough funds, then that’s when you proceed to the next steps.
- Is the market open for the kind of business you are bringing in?
Another part that should be included on your business plan is the market research. Based on the initial test, make a conclusion on how the market on your target location perceive the brand? Are they accepting? What are the things you need to adjust to get the attention of the market?
- What about the competition?
Expect the competition wherever you go but do not forget to size them. You need to know who you need to beat in the market. Make an in-depth research about the other companies that offers that same services and products.
- Is there going to be problems with staffing?
You cannot bring all the staff with you so it is inevitable that you will hire people from your target location. Have your HR Manager consult with overseas relocation services and be familiar with the recruitment and employment laws.