At first, your business was merely an idea with no real form.
Next, you expanded enough to hire some staff to help you with the various processes.
Now, you’ve grown so much that you’re ready to move it into a commercial premises. While this is obviously an exciting time, it’s important not to get ahead of yourself.
Here are some smart budgeting tips to help you get the most from your premises.
#1 Expand When it’s Right
The first thing I’ll recommend is to avoid planning for further expansion.
I know, you read this blog because you want your business to go places. However, if you over-shoot the budget, you could end up wasting valuable capital which could have been injected elsewhere.
If you see a lot of quick growth in your company’s future, then the best thing you can do is find a flexible lease. Target spaces that are part of a larger complex, but only pay for the amount of space that you need at this time.
From there, you’ll probably be able to expand into another nearby property with a few little tweaks to your original lease agreement. It’s great to aim for expansion, but don’t jump the gun!
#2 Research Your Service Providers
Next, spend a lot of time looking for your service providers.
This is going to take up a fairly substantial portion of your office budget, but choosing wisely can make all the difference.
You’re going to have to pay for internet access, phones, commercial cleaning services and so forth. Pick the first companies that get their junk mail through your door, and you could end up screwing yourself out of some fantastic deals!
Many utility and service providers will give considerable discounts for businesses which can enter lengthy contracts. Take your time browsing for quotes, along with testimonials, and find a company that seems to offer good value.
Just make sure you read and re-read the early cancellation conditions. These can really come back to bite you!
#3 Price Your Furniture and Equipment
The next major cost to think about is furniture and equipment.
By advice here is to buy used wherever possible. I know that when you knew you were moving into an office, you probably had a vision of spotless new furniture that conforms to a certain style.
However, you’ve got a budget to stick to! I know buying used isn’t ideal, but it’s a remarkably easy way to set up an office for less. Go through some local classified sites, and look for desks, conference tables and even some art if the budget allows for it.
If you’re lucky, there’ll be another local business trying to clear out all the equipment and furniture that they’d bought outright. Even if you can’t find any good used furniture, you may be able to haggle with a supplier.
Go looking for a B2B firm that delivers bulk orders to offices, and press them for a good deal!
These three tips should be your personal mantra for setting up an office on a budget. Be smart with your available funds, and your first few weeks at the new place will go brilliantly!