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3 Questions to Ask Before Selecting a Headquarters Location

Thinking about moving your headquarters to another city or state?

There's a lot of planning involved in choosing an ideal location.

This should be done strategically to ensure you get the most out the move.

Where you ultimately decide to relocate your headquarters will be determined by a variety of factors.

Here are three questions you should ask yourself when pondering the place of relocation:

1. What can I afford? This is important for obvious reasons. You may learn that your retail shop will thrive in urban cities, but can you afford the rates?

2. Where is my industry? This is where strategy comes into play. For a fashion company, headquartering in Los Angeles or New York City is a sound idea (as long as it's affordable) because these are fashion cities.

3. What limitations are present in each potential city? Are there extremely long commutes, formidable traffic, high interest rates or a lack of talent in the area? Assess the pitfalls to ensure they don't outweigh the benefits.

A business consultant can be valuable in these situations.

Allow an expert to analyze your business and goals to determine the best steps for moving forward (and to another city).

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