How to Budget for an Office Relocation

Relocating and enhancing your workplace can innovate your company and drive real business results, but sticking to a budget on your office move can be challenging. An office relocation is a significant investment, and so it should be if you want a high-quality office environment that will continue to reward your business for years to come. Predicting an accurate budget can be very difficult, so make sure you are aware of hidden costs that may catch you off guard, and prepared for any unforeseen problems to avoid overspending.

Plan your move

Firstly, scope out the move and realise the logistics. How many staff will you be moving, what equipment, files and furniture will you be taking with you, and how will you maintain operations during the transition. The Guide to the Office Relocation Process will get you to ask these questions and foresee any unexpected issues.

Decide your budget and specifications

Draw up an outline budget for the whole project, which you will be able to compare your costs to for every stage of the relocation. A year’s rent is a good guideline to your office relocation budget. Establish a firm design plan and concept before committing to suppliers. Find quotes for everything; from furniture to flooring, broadband to breakout spaces – there’s a lot to cover. This will maintain a competitive environment, ensuring the best value proposals from suppliers.

Find a partner

A commercial property agent can advise you on the finding the best office space for your company, taking into consideration your location preferences and budget. Managing a large-scale operation such as an office relocation can prove overwhelming, especially if this is your first experience of the property market, and having a specialist in the area on your side can be invaluable.

Out with the old or in with the new

There are other simple ways to keep costs down; the buying and disposing of new and old furniture and equipment can easily become the largest expense of your office relocation. Reselling out of date equipment and reusing old furniture can slash your refurbishment costs, whilst providing a familiar environment for employees. You must weigh up the disposal costs against moving costs, and decide which approach will be the best fit for your budget.

Planning for the future

Whatever your motivation for an office relocation, you are likely to expand naturally over the years. It is best to budget for this all in one move, rather than taking on additional projects further down the line. Whilst reusing old equipment and furniture may reduce costs in the short run, if they are in poor condition and let you down later on, you could be facing unexpected costs if operations are disrupted and staff cannot be as productive.

Considering all these factors will help you reduce costs in certain areas, allowing you to invest money where you will receive the most reward. A thoroughly planned strategy and checklist is key to sticking to your budget and maximising the benefits of an office relocation.