This column is sponsored by BizLaunch, a division of Arlington Financial Growth.

By Alex Held

Relocating a small enterprise to a brand new house is a big endeavor that presents many challenges. Transferring to a unique location could be a daunting process for small companies, whether or not resulting from growth, value issues or modifications within the enterprise panorama.

When Reena Bawa, Founding father of Magnificence Honest Hairstylists, discovered she wanted to discover a new location after working her Columbia Pike enterprise on the identical location for greater than 35 years, the method appeared daunting. Fortunately, she had BizLaunch to assist her discover a new house for her enterprise.

At first, discovering an appropriate house that meets the wants of the enterprise could be a vital hurdle. Typically, this course of can take one to a few years. In Arlington, notably alongside Columbia Pike, vacant retail house might be arduous to search out, and with low provide, rents are rising. At present, the retail emptiness fee alongside Columbia Pike is 2.8%. This problem might be additional amplified if a consumer is on the lookout for industrial house, which in line with CoStar has a 0.8% emptiness fee in Arlington.

In Magnificence Honest Hairstylists’ case, Bawa was already about double the trade common (about 17% of gross sales) for lease and was going through yet one more enhance within the present house. Nevertheless, Bawaknew she wished to stay near her buyer base alongside Columbia Pike and for the house to be simply accessible.

By ReLaunch, Magnificence Honest was in a position to leverage Revby’s experience in analyzing totally different choices, similar to buying an area, leasing one other house or remaining on the present location with a lease enhance. Nevertheless, with the price of acquisition, build-out and lease rising, none of these choices made monetary sense nor aligned with Bawa’s objectives. Thus, she determined to lease out house inside an present hair salon. Such an association is usually referred to within the trade as sales space lease.

As soon as it was clear which route Bawa wished to go, the BizLaunch group recognized a number of sales space lease alternatives all through Arlington. Lastly, Bawa settled on her new location inside Samaris Hair Salon at 38 S. Glebe Highway.

With the situation chosen, the logistical challenges of the transfer itself got here into play. Small companies should plan and coordinate the bodily relocation of apparatus, stock, and furnishings, which might be complicated and disruptive to day by day operations. In Bawa’s case, since she would lease house from an present salon, a lot of her gear was not wanted, forcing her to liquidate or retailer gear.

Moreover, BizLaunch supported Magnificence Honest by way of the transfer, serving to her replace her handle and apply for a partial Certificates of Occupancy for her new house whereas additionally being supportive within the transition. On this case, Bawa had been in her location for greater than three many years and was understandably connected to the situation. It was a part of her enterprise id, and it was essential to not lose that id.

One other vital problem is notifying prospects, shoppers, and suppliers in regards to the relocation. Small companies rely closely on their present networks, and a transfer can disrupt established relationships. Speaking the brand new handle and speak to data is essential to sustaining sturdy connections and minimizing any potential lack of enterprise.

Fortunately Revby was in a position to assist develop collateral materials similar to fliers and enterprise playing cards with the brand new handle and replace the web site and Google My Enterprise web page, letting prospects know of the change. Moreover, the Revby group was in a position to help in extracting prospects’ data from the proprietor’s cellphone right into a spreadsheet, simply accessible in a single place.

“Whereas the adjustment has been arduous, I’m grateful for the sources Arlington has offered my enterprise in addition to the help from my prospects and colleagues inside Samaris Hair Salon,” says Bawa.

For companies going through a relocation choice, attain out to BizLaunch as early as attainable, as discovering an appropriate house for what you are promoting can take a while. Schedule a while with one among our specialists right now. For extra details about BizLaunch, go to www.bizlaunch.org.