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If you are a business owner, you are most likely looking forward to expanding to another city or country. Business expansion cannot be a bad thing for any business owner. This usually means that the business is doing good and you are looking for a new market to conquer. However, expanding your business from Ottawa to Toronto, for example, will require a lot of research and a good plan. Regardless of where you are looking to expand your business, knowing what to expect is very important. As far as the relocation process itself, hiring professional movers, like moving companies Ottawa, will allow you to safely relocate your office and all the equipment you need. Moreover, you first have to do the research before you decide to relocate or move items to the new city. Lucky for you, today we are going to help you do this right!
Tips on expanding your business from Ottawa to Toronto
If you are looking to expand or start your own business in Canada, there is no better place than Toronto. Namely, the city of Toronto is the capital seat of the province of Ontario, Canada. On top of that, the city is one of the most populous cities in Canada, having around 6.2 million people living in it. Since the 1950s, the city has been constantly growing in size and population. Today, Toronto is the central hub for business, finance, arts, and culture in Canada.
The city itself is quite diverse. In fact, it is recognized as one of the most multicultural cosmopolitan cities in the world. Moreover, the economy of the city is quite diverse. It is home to the Toronto Stock Exchange, it is a headquarter to five of Canada’s largest banks and many different Canadian, as well as multinational corporations.
Utilizing access to a more diverse talent pool
Finding the right worker for the job might be hard. Of course, this depends a lot on the location your business is in. Luckily, the city of Toronto has a huge talent pool to offer. However, wherever there is a higher pool of talents, there is high competition. This means that you will be able to hire a more educated workforce, but will have to offer better conditions than some competitors in the area. 62% of Toronto’s population has at least a secondary education. Furthermore, 62% of the workforce is made of women which shows how diverse the city is when it comes to employment. A diverse workforce is a great way to get a head-start when opting to expand your business and step on to the “global business arena”. So, when moving, or expanding, your business, make sure you are aware of the local talent pool.
Build up the “hype”
If you plan on expanding your business from Ottawa to Toronto, you would want to let people know about it. Before you even start the relocation or expansion process, do proper marketing. Ideally, you would want to do this at least a couple of months before you actually expand. The “hype” you will create will let the locals and people in the area know that you will be opening your business there. This will not only create a better head start for your business, but it might attract some good employees.
To successfully relocate your business, you can rely on the office moving Ottawa services. By doing so, you will ensure that your office is relocated with care. Furthermore, if you do so, you will have more time to focus on proper marketing in Toronto to start your new business expansion on the right foot.
Expanding your business from Ottawa to Toronto will reap the best results with local management
If there is one thing business owners know, it is that each market requires a different approach. Firstly, the distance between Ottawa and Toronto is nearly 250 miles. This means that, if you decide to move your current management team there, they will need to travel for around 4 and a half hours. Secondly, even if you do not move your team, any issue that occurs will require time to fix. So, instead of your team moving from Ottawa to Toronto, simply rely on local managers to help you out. This is the best choice for your business, and the main reasons are:
- Local managers will provide much better insight
- These people will know how to do proper marketing for the area they are in
- Relocating whole teams from one place to another is highly expensive
- Having a local team increases productivity for that branch
Do not rely on your reputation
One of the biggest mistakes you can make is to rely on your, already existing, reputation when you move your business to a new area. Yes, these two cities are in the same country. However, this does not mean that people from Toronto will know as much as people from Ottawa about what you do.
Furthermore, this means that you have to start everything from ground zero. Develop plans on how to approach the local market, find partners and new customers. Do not simply rely on the name of your company or the experience you have to do the job for you. More importantly, as the cities have slight economical differences, you will have to update your prices for the services you provide or products you sell.
Additional things to take care of
If you are an experienced business owner, you will know what your business requires prior to relocating it. Furthermore, if you plan on expanding your business from Ottawa to Toronto, you have to think about, basically, all the things you do in the previous city. From the storage unit maintenance, which you will definitely need, to finding the right partners and employees. More importantly, as you deal with each part of the expansion, make sure you are aware of the changes that occur. Be active in the process of expansion and do not let other people lead it. Always know what is the current project and how it will return to your favor once it is complete. Settling in is very important, especially when moving your business to another city.
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