Is it Possible to Relocate Your Business to Regional Australia?
With Australian capital cities becoming more and more expensive to live in, it’s no surprise that people are starting to opt for a sea change. If the thought of a relaxing, affordable, and scenic lifestyle tickles your fancy, then you may want to consider your options first. Relocating your business to regional Australia entails a wide range of options, ones that aren’t limited to just horse towns plonked in the middle of the bush.
Regional living means being surrounded by towns and cities that allow for a much easier transition of post-city living. Such cities are well-equipped with things like housing availability, airports, public transport, and fast internet (things that small towns don’t always provide).
Relocating your business in one of these areas can provide you with an opportunity to not only grow your business but also live an affordable and healthy lifestyle that your family can become accustomed to as well. But before you pull the trigger, make sure you understand what regional Australia has to offer. Consider the following points to help you make an informed decision and when necessary speak to Adlam Transport who are removals Perth experts.
- A sustainable business model
This applies to almost all businesses who are looking to set foot on a new region. It’s important that you do your planning (even if it’s only a one-page business plan) by crunching the numbers and understanding your target market. If you’ve been successful already in the city market, you have to adapt your model accordingly. For the neophyte entrepreneurs, we suggest working with a mentor or undergo some form of training to better understand your business model
- Make your offerings relevant.
If you want to bring the next best thing to regional Australia, bear in mind that country people can be a bit slower to embrace new ideas (at least en-masse). So if you rely on plenty of foot traffic to make your business work, make sure you have alternate markets like an online store, a satellite office, or stockists in other areas.
Let’s say you want to add business and lifestyle coaching to your current portfolio. While some of your clients may be interested in trying it out, it’s a relatively new concept to your geographical area to which some people may not readily take part in. In the end, you’ll be pleased that you didn’t dump your initial offering as the slow-paced customer take-up can prove difficult to deal with.
- Be ready for frequent travels
The most successful hospitality businesses in the region supplement their revenue with catering. Consultants work over geographies that can extend beyond 500 kilometres (with many hanging onto lucrative city contracts), creative industries and education professionals source clients throughout the world using the internet, and farmers ship their produce to city markets. Of course, there are businesses that excel in retail, hospitality, business services, but bear in mind that this isn’t just luck at work.
When you start scratching the surface, you’ll notice that these businesses will either (a) offer a premium product (b) have a strong following with established networks (c) have high-profit margins with low overheads (d) and lastly, do not need plenty of money to live off comfortably.
- Establish relationships
In regional Australia, word of mouth is the lifeblood of business promotion. Having a strong network allows you to connect to a wider audience, thus helping you draw in local customers. But building relationships takes time, especially if you’re new to the area. What you can do is join local groups and meet other people there (Rotary, Lions, rural fire brigade) or attend local events and promote your business.
As you meet new people, just give a brief introduction to your business and let them figure out the rest. Your goal is to gain traction within the region and establishing relationships with the locals is a great way to start.
- Consider your business location very carefully
You’re in for a great surprise when you discover the competitive prices of regional commercial rent. If you’ve grown accustomed to a home office environment, you may want to check out what’s on offer, or even consider co-locating. Being visible will help you ease into a new location and even potentially expand your networks from both your personal life and business life. When searching for a new space, make sure to check out the surrounding businesses. Do you like the general vibe of the area? Do neighbouring businesses mesh well with what you’re offering?
Keep in mind that many regional centres now have airports that are easily accessible. This is perfect if you’re looking to tap into new customers or just want a hint of that city life. There are many entities tasked to assist relocators. If this is something that interests you, contact either the local Council or the Regional Development Australia entity associated with the area.