When you’re establishing a new business, every penny counts. Creating an office space that meets your company’s needs without breaking the bank is no mean feat. However, there are plenty of ways to cut costs when setting up your new company office without skimping on essentials or sacrificing long-term benefits.
From negotiating affordable lease terms and utilities to sourcing cheap furniture and fittings and finding affordable office space in an accessible location with low commuting costs, there are many things that can be done to reduce expenses when setting up your new company office. Here are some pointers to making sure your financial outgoings don’t outweigh your income.
Negotiate affordable lease terms
A lease can be one of the biggest drains on your company finances, especially if it comes with high upfront costs. When negotiating your lease contract, try to get a deal that includes only the essentials. For instance, opt for a lease without a fit-out to avoid paying for fixtures you might not end up using. When leasing office space, it’s also helpful to have access to a real estate broker to represent your interests. A broker can negotiate terms with landlords and help you avoid costly mistakes.
Install energy-efficient equipment and fixtures
New business owners often overlook the benefits of energy-efficient equipment and fixtures in the early stages of setting up their company office. However, investing in energy-efficient items upfront can save you money in the long run. For example, investing in energy-efficient lighting fixtures is an investment that will offset the cost of itself in just a few months. Similarly, investing in an energy-efficient office air conditioning (AC) system can pay for itself in just a few years.
Shop around for affordable office furniture and fittings
Before you set up your company office, do some research to find out which brands and vendors offer the best value for money. While you don’t want to compromise on quality and safety, you also don’t need to splurge on the most expensive brands. It’s also worth checking out second-hand office furniture and fittings. Additionally, it’s important to remember the cost of supplies such as paper and printer inks. These costs can be kept low if you buy from printer inks when looking for vendors. For example you can get HP 963XL ink at a reasonable cost from sites like CartridgeSave.
Check the parking facilities and commute costs before signing off
A great office space won’t do you any good if you don’t have convenient access to it. Before you sign on the dotted line, make sure the office space you’re considering offers ample parking facilities. Ideally, the office building should have ample parking spaces that are reserved for your company. For example, a lot of tech companies are moving to the “loft” style offices where parking can be hard to find. If possible, try to find office space that’s in a location that allows you to walk or take public transportation.
Conclusion
Establishing a new company office requires careful financial planning, but the costs don’t have to be prohibitive. Negotiate affordable lease terms, check the utility bills, and shop around for affordable office furniture and fittings to save money on essentials. Also find out if the office building offers ample parking and is located in a convenient commuting distance to save time and money on transportation.
By following these tips, you can create a functional office space without breaking the bank. Once you’ve guaranteed your space is cost-effective, it might be time to look into reinvesting that money into other business essentials- after all, no small business is complete without good design.
