Start-up businesses are often restricted by budget and therefore costs need to be kept to a minimum as the business grows and expands, so that turnover and profit have some significance on reports. When a company is launched, it will often have small premises and just enough space for what is needed, whether offices, factories, warehouses or transport coverage. Many successful start-up businesses quickly outgrow their first premises, and sometimes they need to consider their next step and how to keep costs down for their development.
As a company grows, the pressure is on to make sure that business progresses as usual, client requirements and demands are met and although there may be more weight to carry, success can sometimes only be achieved through expansion. This is especially relevant if a business has on site warehouse space. Production costs, staff capacity and extra space are often major concerns in smaller businesses, especially if budgets are restricted and there are still demands to meet.
One of the biggest issues for businesses is the need for suitable or large enough premises. Renting premises has become such an expensive overhead in addition to other business taxes and costs, that many businesses are bursting at the seams for space. The options are simple, move to new premises, build extra space on site or opt for temporary buildings.
Moving to New Business Premises
Moving premises can be such a major upheaval for companies, especially when the business needs to keep turning over to keep their clients happy. Companies cannot afford to take time out to move, or they may risk losing clients or customers in the process. Not only can moving premises be a temporary disturbance but it can incur huge costs and a momentary delay in production which could put you behind in meeting deadlines. Moving premises would be a good option if you have long-term ambitions for your company and your business is financially secure. Bear in mind moving costs, new business tax, deposits and any other initial costs which could have a temporary influence on financial figures.
Expanding on Site
Building more space and expanding your premises on site is certainly a viable option and would be considered an important investment for a company, as long as there is longevity and the financial budget to do it. Preparation and research would need to be carried out in terms of building regulations and planning permissions which can incur extra fees. Building laws can often restrict companies to achieve their desired result and can be a time-consuming aspect of expansion. It is incredibly important to make sure you have covered all basis, so that you are not hindered by unexpected costs or hold-ups.
Temporary buildings are an excellent possibility, especially if you’re not sure what the future holds for your business. Not only do temporary buildings and warehouses create the extra space that you need, they are quick to construct and cost much less, making them a cheaper and quicker alternative than building on site or moving to new premises. The advantage of temporary buildings is that you can have a solution for your business right away, without waiting months or potentially years for extra space. Temporary buildings are also often planned, designed and built within a few weeks from the start and whether you need bespoke space or opt for a standard size, they are customised to your business needs. Temporary buildings can be hired for a temporary period or bought, depending on your company outlook and how long you expect to need the extra space.
More to Consider
Whether your business needs more warehouse space, an extra office block or a larger production factory, you will no doubt take all areas into consideration. If you own your premises and expect your business to thrive for years to come, then it may make sense to build on site, however it is important to take into consideration the outlays and all of the extra costs. Temporary buildings are strong and durable and expected to last for at least 30 years, so although they are labelled as ‘temporary’ they can also be used long-term. They can also be designed to your needs, whether you need insulated or non-insulated, weather protected or with loading doors for transport. You will undoubtedly know what options are suitable for your business and will consider all alternatives depending on your budget. Think about your long-term plan, the costs involved and the best way forward to reach your solution.