Anyone have experience with relocating a business?
August 18, 2022
by a searcher from Massachusetts Institute of Technology - MIT Sloan School of Management in Florida, USA
Meru Venture Partners is closing on a business that specializes in manufacturing and assembling circuit board connectors, relay sockets, and connectors in the aerospace & defense industry. The company is currently located in a 30k SQ FT facility and only requires about 15k SQ FT for all useful equipment. The owner is selling the property to a separate third party and therefore the business must relocate. Does anyone have experience and can offer advice on best practices to move a business with heavy equipment such as CNC machines, lathes, etc.? Thanks in advance.
from University of Hartford in Portsmouth, NH 03801, USA
2.) Get ONE person to own that project. Hire outside if you have to. Also, make sure you have someone dedicated to responding to your aero/defense customers and their quality/continuity concerns. Aero/defense customers do NOT like uncertainties, and moving is high on that list of uncertainties
3.) Get all your contractors lined up to fit up the building ASAP. Make sure you're looking at the things you can't see. E.G._ is the new floor thick enough such that the newly located CNC's don't transmit vibration to each other and throw each other off? Can the electrical handle it? When you lay out the new floor, make sure there is space around the machines for cleaning/maintenance
4.) Get your production schedules lined up to build more inventory than you think you need. It will take longer.
5.). Make sure you building plenty of qualification time into your schedule for the machines. Some machines don't like to be moved and will be finicky upon restart
6.). Do you have any risk of losing people? Can you compensate some to guarantee they stay through the move?
7.). Do you have to move anything that's not yours? Like 3rd party tooling cabinets?