You’ve been so focused on growing your business, and then one day you wake up and realize you’ve outgrown your facility. So, what do you do next? Do you have the capital or time to rebuild and start from scratch? What are your options? And what is the best way to attack this problem?
After determining that your facility can’t sustain your growing business, you are left with three choices:
- Relocate your operation to a larger facility. (This is your most expensive option.)
- Stay in your current facility and utilize off-site storage and/or resources to meet growing business demands until a long-term solution can be implemented. (This can be the most cost-effective alternative to satisfy a short-term need, but it may cost you more in the long run.)
- Determine the feasibility to expand and/or modify your current layout and processes. (Often, this option is your best alternative from both a capital and operational perspective.)