Ask Yourself This… Questions for Small Business Owners Considering Expansion
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New England Construction Blog

Ask Yourself This… Questions for Small Business Owners Considering Expansion

Mike Gorman
October 18, 2017

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Making the decision to expand your business is one that obviously requires a lot of forethought. You set goals with your managers, speak with your shareholders, and even discuss the pro’s and con’s with your family. Growing pains for a small business involve a fair amount of risk and must be thoroughly examined. When you do determine that it is time to grow, you cannot just rush into making changes, especially ones that involve the literal physical space you occupy.

Understand how your goals (and any resulting plans) should be framed within an assessment of your physical needs. We want to encourage you to give some time to these questions that we here at New England Construction feel can help develop your project’s vision.

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What are my priorities? Consider aesthetics, operational efficiency, impact on existing operations and potential stessors.

How much space do I need? Examine your pain points and challenges in the context of your current space. What are the best practice solutions for these problems?

Can I build what I need on this site? Be realistic in your assessment. Does your current location meet the needs of your growing business? Might it be time to look for a better fit?

When do I need to occupy my new building or renovated space? We know that time is money, so build a solid plan for the project's duration and decide when you will need completion in order to support your ongoing operation. Can you afford the "downtime" of the renovation or construction?

Will I need to expand in the future? Do not just think about right now, but look at the possibilities of your future needs. 

What is my budget? Do not let the fiscal impact cloud your initial planning and brainstorming but be sure to assess what your business can afford. This will involve your initial costs and the life cycle costs of the project. Invest in your continued vision. 

You may realize as you go through these questions that you cannot find the proper answers that you need on your own. Consulting with a professional with Design/Build perspective may present some options you have not yet considered. You can click the button below to schedule a consult call with our Business Development team to learn more about our experience and see if we might be a good fit for your challenges.

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Topics: Commercial, Business Tips