When It’s Time To Downsize Your Business Premises

Many businesses have faced substantial difficulties in recent times with the impact of the pandemic and the ‘knock-on’ effect of reduced and lost revenue, shrinking marketplaces and business opportunities, and changing trends in how people live and work and, with that, revised business and personal requirements and demands.

As a business owner, it is likely that one of your major financial overheads is your business premises from which you trade – office and warehousing space can prove expensive, especially in major city areas like London. An option for immediate savings in monthly outgoings is to downsize your business premises – all business owners know that, when facing financial pressure, reducing upfront costs can be a big help!

Choosing to move to smaller premises can offer an immediate solution to pressing financial problems but doesn’t necessarily mean that it will devalue your business – it may just buy you time to regroup and re-establish the business when the environment becomes more favourable again.

Here are aspects of downsizing your business premises for you to consider:

Downsizing your business premises

It is probable that you will need to consider downsizing your business space when any of the following become evident:

  • Your overheads have significantly increased over a given period.
  • Your business (like most in recent times) has you having to pay more for your materials, services, or supplies.
  • There has been a marked decrease in your own business trade and sales.
  • There is no further room for you to be competitive in your business arena without cutting some of your own costs.

If your business is faced with one, or a combination of those scenarios, then reducing your outgoings by choosing to downsize your business may be a sensible and effective option.

The benefits of downsizing

One of the most obvious benefits of acquiring a smaller business premises is the immediate reduction of rent or repayments that you will have to make. This will release some of your financial resources to be used on other elements of your business as well as relieving some of the financial pressure and offering greater flexibility for your business.

Downsizing your business premises can also offer the opportunity to perhaps relocate your business altogether. It may be that your customer base has changed since you first established your business. Or that you will have many clients/customers over a wider area and relocating to a more ‘central’ location of your customer catchment will be beneficial logistically for service and distribution. A new location may also prove helpful in proactively reaching new customers and growing your business again.

The Benefits Of Business Self-Storage

If you are considering downsizing your business premises it doesn’t necessarily mean that you have to dispose of all of your existing office assets, materials or, where relevant, stock. You may view your downsizing move as a temporary measure whilst you re-establish the business and, therefore, need somewhere to store certain equipment, paperwork, or stock in the meantime. Business storage can be acquired for very reasonable rates – certainly costing far less to store these items than having to pay for extra office space to house them! Even in expensive areas self-storage can offer an inexpensive and practical solution for space requirements.

Business storage in London can offer many benefits. When moving premises, you will inevitably go through a ‘clear-out’ exercise, identifying what is necessary and, more valuably, what can be discarded. Business storage facilities can be used to safely and securely house those business assets you need to keep but have insufficient room at your new, smaller office base for. Eg, confidential papers, invoices, employee records and other important, personal documents can all be stored in the knowledge that their condition and content will be professionally and privately secured. Business storage in London can be used to store office furniture and equipment that may not be required daily but may be needed at a future date.

Business storage facilities offer state-of-the-art, 24-hour security systems and alarms and you will have exclusive access to your items whenever you need them. Storage units are available in many different sizes and capacities and offer many storage services such as confidential waste disposal along with delivery and distribution services.

Business storage facilities will offer you a bespoke service tailored to your business needs – just contact them to ask any questions and to get a price based upon your individual storage requirements.

Choose Chelsea Self Storage

If you’ve got a lot of stuff and need somewhere to store it, look no further than Chelsea Storage! We offer convenient and secure self-storage space units for the public for as long or as short as you want it, at storage unit prices to suit all budgets. Call us today FREE on: 0808 1681310 to discuss your requirements or click here for a storage quote; and get your very own household storage in London today.