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Why You Need an Office Moving Budget Planner
Moving your office is a great opportunity for your company to grow, rebrand, and refresh your workspace, but it can also be a painful and expensive process. Some of the top complaints of office moves gone wrong include:
- Not having enough time to complete the move
- Losing productivity
- Damaged or broken equipment
- Low company morale
- Spending more than your office moving budget allowed for
Many or all of these problems can be prevented, but #5 is the easiest to avoid. After all, keeping track of your office moving budget isn’t hard if you have a realistic idea of how much your move is going to cost. The problem is that the typical office move involves over 250 distinct steps, and every single one of those steps is going to be expensive. Your new office space alone involves multiple costs besides the obvious rent payments: real estate attorney’s fees, building permits, construction and fit-out, interior design, signage, and more. Depending on the decisions you make (keeping old furniture vs. buying new, leasing vs. buying office equipment, etc.), your office moving budget will need to accommodate a lot of fees and purchases.
To avoid surprises, it’s recommended that you sit down and draft a budget in the very early stages of planning your move. A committee of key decision-makers should sit down with Movemybiz.com’s free Master Office Relocation Checklist to determine all the steps needed for a successful move. This checklist will give you a good idea of what you may or may not need to allocate funds for, depending on whether you will be purchasing a new business phone system, furniture, etc. Once your move committee has gone through the checklist, take a look at our free Office Moving Budget, which provides guidelines for organizing vendor bids, etc.
We recommend printing both the Master Office Relocation Checklist and the Office Moving Budget and storing them in a large binder with sturdy pockets for bids, contracts, and other information. Use the Office Moving Budget for charting vendor bids and allocating your budget for each phase of the move. It’s important to have a sound idea of how much you are willing to spend on, say, office furniture before you even begin interviewing vendors. Make sure you know what you can afford before you begin reviewing options, but be sure to leave a little wiggle room in your budget. Take it from us: everything is always more expensive than you think, and you may wish to upgrade to something slightly better than you originally anticipated. An office relocation is also an opportunity to explore some of the features and innovations that are on the market today. Your office moving budget may not be able to accommodate all of the amazing new workspace products and solutions that are available, but with advance planning, you should be able to find the funds for whatever is most important to you, be it the latest teleconferencing technology, unique art to spruce up your space, or an outdoor gathering space for your employees.
Frequently Asked Questions about your Office Moving Budget
Q. When should I begin formulating my office moving budget?
A. As soon as your organization has made the decision to relocate, you should begin drafting your budget. You won’t be able to begin making decisions until you have a clear picture of what all of your expenses will be and how much money you can afford to allocate to each stage of your move.
Q. How much should I budget, on average, for each employee?
A. This is a tough question to answer, because costs largely depend on how expensive your area is and how big your office is. If you are allocating 200-250 square feet per employee, you can expect your moving costs to be around $1-2k per employee on average. Of course, this could be more or less, and it only includes packing services, commercial moving, phone and data cabling, and reprogramming phone systems and servers. If you are buying new furniture, phones, computers, and other equipment, your costs will increase substantially, and you’ll have to alter your office moving budget accordingly.
Q. If I renew the lease for my current space, my rent will go up. But is it worth the expense to relocate my company?
A. Often, businesses must weigh the pros and cons of staying where they are vs. relocating to a less expensive, larger, or more ideally situated office space. That’s why it is so important to construct an office moving budget and weigh those expenses against the costs of renewing a current lease with a rent increase. In addition to reviewing your budget, ask yourself if a move may be necessary. If your company is expanding out of your current space, renewing your lease for 5 years may inhibit your continued growth.
Have any more questions about planning your office moving budget? Contact us with your request for information, and be sure to download an office moving budget planner as the first step to a successful company relocation.
Free Budget Sheet for Your Move
- Manage all vendor bids
- Compare projected and spent budget
- Track all office move expenses!