Top 10 Business Relocation Mistakes
It's been a crazy couple weeks with the redevelopment saga continuing to play out in California. But let's shift gears and take a breather -- at least for a moment -- while hundreds of redevelopment agencies continue to hang on for dear life.
I received a call today from a business owner who faced a potential eminent domain action, and the owner unforntuately did not take the appropriate steps to preserve goodwill and find a suitable relocation site. The owner's difficult dilemna prompted me to mention an excellent article I came across a while ago from Martyn Daniel LLC, which specializes in eminent domain and business relocation consultation.
The article, "Top 10 Eminent Domain Business Relocation Mistakes," provides a Letterman-like top ten list of common and costly mistakes business owners make when faced with the possibility of relocation. Any business owner facing condemnation should become familiar with the article, as it is a great roadmap for what to do -- and more importantly -- what not do when planning a relocation.
One of the most delicate balancing acts for a business owner is planning ahead to deal with the move, while at the same time not spending too much time or money on a planned relocation until the business become eligible for relocation benefits. This eligibility is usually triggered when the owner receives a "Notice of Eligibility" or a "Notice of Intent to Acquire." If it acts before receiving that notice, the agency may claim that the owner is out of luck if the agency decides not to pursue the acquisition.
Relocation consultants, right-of-way agents, and most of all, impacted business owners, should spend the time to read the top-ten article. See what you think. If you have any additional recommendations, let us know and we'll post them here on the Blog.
