Before you choose your next space
Renew the lease or move the business?
Compare the space your team needs with the full work and cost involved in each option. Use the same time period and operating requirements for staying and relocating before deciding what to do next.
A worksheet to bring the decision together
The two-page worksheet covers workplace needs, lease deadlines, advantages and gaps, next actions and a side-by-side cost table. Fill it in with a compatible PDF reader or print it for your planning meeting. Totals are entered manually.
Download the worksheetFillable PDF · 2 pages · No signup required
Start with the dates and the workplace
- Confirm the decision dates. Check your lease end, renewal or notice deadline and the date the business needs a working space. Confirm obligations with the people responsible for your lease.
- Use one set of requirements. List people, workstations, storage, receiving, access, location and IT needs for the same planning period.
- Test both layouts. Identify what would need to change in the current office and what the proposed space needs before your team can use it.
- List the unknowns. Assign an owner and due date for building approvals, contractor estimates, moving scope and any information needed to compare the options.
Ask the same questions of both options
| Decision check | Stay / renew | Relocate |
|---|---|---|
| Workplace fit | Can the current layout support your team, equipment and expected growth? | Does the proposed space meet the same needs, including access, receiving and location? |
| Space and furniture work | What would reconfiguration, repairs or new furniture require? | What fit-out, furniture installation and IT work would the new site need? |
| Timing and disruption | Can changes happen around the occupied workplace and business schedule? | How do building readiness, the move window and old-space handover fit together? |
| Total cost | Include rent, operating costs and the work needed to stay over the comparison period. | Use the same period and include moving, overlap, fit-out and handover costs. |
Include the work around the rent
Compare rent and operating costs over the same period, including expected increases. Then add the one-time work each option needs: reconfiguration or fit-out, furniture, moving, IT, old-space handover, overlap, storage, internal staff time and other project costs.
Use confirmed allowances and credits, keep refundable deposits separate as a cash requirement, and avoid counting the same item twice. Leave unknowns blank until you have an estimate; a blank is different from a confirmed zero.
The worksheet is a planning aid. Your team and advisers confirm lease obligations, tax treatment, building requirements and costs. BMG can review the moving, furniture and decommissioning scope relevant to your project.
For a general business-cost planning reference, see the SBA business planning guide.
Plan the work for the option you choose
Staying may mean moving teams or reconfiguring furniture inside the same building. Relocating may combine an office move with clearing the old space. Bring your layout, inventory, access requirements and target dates to a free walkthrough.