Right-Sizing and Downsizing may sound similar, although one is about finding the right space, and the right amount of space, for your business and current needs while downsizing is more about shrinking your footprint.
Right-Sizing – Moving to a location that is the right size for your business. As the economy changes, businesses need to adapt and shift quickly, priorities may change, but long term goals may be the same. Right-sizing means evaluating what you really need in a space and making an adjustment based on what is best for your business NOW.
Downsizing – Making a dramatic change in business size, possibly from a large team to a smaller team, shifting to more work-at-home employees, or even just shifting what your business does. This may require a reduction in office or industrial space and an updated financial plan. Time to map out the transition is preferred, but not always possible with how quickly our environment is changing.
Both of these options do require some planning and strategy. Determining what the next step should be can be daunting! Luckily NAI Keystone is your local CRE expert and will be able to help you through this process. We know what is happening in our local market at all times and we can walk you through some options to help determine what might be the best move for you. Contact us today to set up a consultation!