G
grandslam
Guest
We are in the signage and print business, currently operating from a rural location that is somewhat out of the way, it has done us fine so far, the rent is reasonable enough but it is in a shared facility and the landlord is letting it get scruffy looking. Current space = c. 1500 sq. ft.
During the ‘good times’ we doubled turnover every year but only in the last 6 - 8 weeks have we noticed a significant slowdown in business.
A shop unit and warehouse nearby has recently become available the size is approx 2500 sq. ft, it is edge of town location and fronting a busy road, it is also adjacent to one of our exiting customers who also refer business to us. By the time we consider rent/rates, etc we would be looking at an increase in outgoings of about €1,000 per month. There may also be an option to buy in the future – but that is a different story!
My gut feeling is that to move the business is the right option for our business, speaking to my employees and friends the majority say it is also a good idea, my partner has a wait and see approach to the situation.
Am I looking too optimistically at this or is my partners strategy correct?
I consider the options to be
1. do nothing
2. move and introduce new lines to utilise the space
3. move and try to sub-let a section of the building
Considering option 2 – at the moment I don’t really want to invest in new products/lines in case the downturn is protracted, we don’t really keep stock, the majority of supplies are available overnight from suppliers
Do we have any other options here?
Considering option 3 – what sector could we share with? A designer is the obvious choice but we do work with several designers and would be concerned that this would alienate others.
I feel I am too close to this to see the wider picture – what other sectors would we have natural synergies with?
There is a lot of words used here to paint this picture and frame the three key questions. Any advice and opinions gratefully received.
Thanks
During the ‘good times’ we doubled turnover every year but only in the last 6 - 8 weeks have we noticed a significant slowdown in business.
A shop unit and warehouse nearby has recently become available the size is approx 2500 sq. ft, it is edge of town location and fronting a busy road, it is also adjacent to one of our exiting customers who also refer business to us. By the time we consider rent/rates, etc we would be looking at an increase in outgoings of about €1,000 per month. There may also be an option to buy in the future – but that is a different story!
My gut feeling is that to move the business is the right option for our business, speaking to my employees and friends the majority say it is also a good idea, my partner has a wait and see approach to the situation.
Am I looking too optimistically at this or is my partners strategy correct?
I consider the options to be
1. do nothing
2. move and introduce new lines to utilise the space
3. move and try to sub-let a section of the building
Considering option 2 – at the moment I don’t really want to invest in new products/lines in case the downturn is protracted, we don’t really keep stock, the majority of supplies are available overnight from suppliers
Do we have any other options here?
Considering option 3 – what sector could we share with? A designer is the obvious choice but we do work with several designers and would be concerned that this would alienate others.
I feel I am too close to this to see the wider picture – what other sectors would we have natural synergies with?
There is a lot of words used here to paint this picture and frame the three key questions. Any advice and opinions gratefully received.
Thanks