Photo Source: Alco press release
After more than 100 years in its Abilene, Kansas location, retail chain Alco Stores Inc. says its moving its corporate headquarters to a Dallas suburb. Alco operates more than 200 discount stores throughout the midwest; stores that serve smaller communities with limited access to big box retailers.
In an article in The Kansas City Star, CEO Rich Wilson says he believes the Dallas area headquarters will be more accessible for vendors, and will help his company attract and keep executives.
It’s unclear if any workers will be relocated to Dallas and continue to work for Alco; however, if any workers are relocated, they should consider the following:
Don’t Rush to Sell Your Kansas Home: If you’re moving to another city, you’ll want to test the waters and give yourself time to make sure the move is right for you. Rather than rush to sell your home and move, consider renting it out (perhaps as a corporate housing rental) until you know you’re ready to commit 100% to Dallas. If it doesn’t work out, you can always return to the home you love.
Stay in Corporate Housing: Just as you shouldn’t rush to sell your Kansas home, don’t rush to buy a Dallas home. Rather, stay in a rental property for at least 6-12 months and get a feel for the lay of the land. You don’t want to rush into committing to a neighborhood, school district, or area too soon and later regret that you didn’t wait and test the waters first.
Be Mindful of Lump Sum Relocations: Lump sum relocations, which are popular today, are where employers give an employee they are relocating a lump sum of money to cover their costs rather than handle the relocation directly. With tight corporate budgets and a do-it-yourself employee attitude, it makes sense that companies prefer giving an employee they’re relocating a sum of money to coordinate their own moving process and expenses. Just because you have the lump-sum doesn’t mean you have to use it right away. Remember, rent for awhile, make sure things are right for you, and then consider making the move more permanent.
Dallas Corporate Housing Companies Be Ready: There will be a slew of relocated executives and employees moving to the area. Some will need short-term housing in Dallas. If you have a property in the area available for rent, be sure to use the keywords, “near Alco Headquarters” in your listing’s description.
Additional Reading: Three Trends in Lump Sum Relocations on the CorporateHousingbyOwner.com blog!
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