If you’re a business owner, breaking the bank is never an option.
You can never predict when your business will need to tap into its reserve funds in response to a business downturn of any kind. To even build up a reserve fund, though, you first need to make wise financial decisions regarding both sources of income and savings—especially for large projects, such as office moves.
Thankfully, there are a number of steps you can take to make sure your office move fits into, or even goes under, your yearly budget.
A Thrifty Office Move
A poorly planned office move can put a strain on the budget of any small business.
From reinstalling cabling to purchasing new furniture, the areas of increased spending associated with an office move can quickly spiral out of control. This is especially true if you have a larger office space.
Small business owners hoping to move a 10,000 square foot office can expect to pay anywhere from $5,000 to $30,000. The range in prices can be explained by the number of workstations within an office as well as the volume of files that must be transferred to the new location, among other factors.
These figures, of course, don’t account for additional costs such as new furniture and equipment purchases or the installation of technology upon arrival at the new facility.
When evaluating the cost of a potential office move you should place most of your focus on the number of workstations that must be transferred. If you have a number of work from home employees it’s likely you won’t pay as much as would a company with a large number of employees who work in the office.
But, regardless of your office arrangements, it’s important to identify potential savings as you plan out your office move. Here are five ways you can save money while still executing a painless move.
1. Only Keep What You Need
There’s never a better time to get rid of unneeded office belonging than during an office move.
In the past we’ve discussed the value of designating certain employees as the point person for different sectors of an office during a move. One of their top responsibilities should be deciding whether certain possessions are needed in the company’s new office facility.
Oftentimes companies hold on to electronics and files they no longer need. It’s important to dispose of these items before a move since the price is often based on the combined weight of all boxes and transferred equipment. You can even choose to donate the items to charity. Not only is this the right thing to do, but it can also result in a tax write off.
2. Move During Off-Peak Seasons and Days
Almost everyone wants to move during the summer. It’s the season when many leases end and inclement weather doesn’t pose a threat. But higher demand also almost equals higher costs.
If possible, look into whether your company can move during an off-peak season, such as fall or winter. Moving companies are typically not quite as busy during these seasons and may be willing to offer discounts on the move for your services.
It’s also worth considering whether your company is available to move during the week. Again, many companies move on the weekends to avoid disruption in operations. If this isn’t a huge concern for your company, moving during the week can offer you additional savings.
3. Save Boxes from Deliveries
The cost of moving materials such as boxes can quickly add up. If your business is like many others, however, you probably have a number of them laying around.
In the months leading up to an office move, save any boxes you receive for shipments. You can then have employees pack their belongings into these boxes during the move out process.
Remember, though, only professional movers should transfer boxes and other equipment. Employee injuries are not only harmful to company culture but can also result in a significant liability for your company.
4. Insure Company Property
A company’s belongings are far too often damaged during an office move. Even extraordinarily diligent moving companies can occasionally make mistakes.
It’s therefore extremely important to insure your company’s belongings in advance of an office move. Carefully research the insurance plans offered by all office moving companies you’re considering, and make sure you understand the level of protection each plan offers. It’s also important to review your office insurance policy to see what damage, if any, is covered for an office move.
Above all, it’s important to have contingency plans in place in the event your company runs into any unexpected issues during the move. While pointing out areas of savings is relatively easy, it’s very difficult to respond in the moment to potentially costly mistakes.
If you’re beginning the process of planning an office move, consider using our checklist to help guide you along the way.