If you are thinking about building a new facility or relocating an existing one, it's important to evaluate a number of factors.
First, the area must be analyzed as part of the due diligence process. Whether moving in close proximity or further away, or starting from scratch, key criteria must be explored, such as:
- Willingness of team members to relocate and associated costs
- Timeframe for the move
- Potential downtime
- Zoning and land-use issues
- Access to workforce
Engaging an experienced real estate agent as well as a builder is often beneficial to the company in evaluating the potential new site.