Relocating your entire office to another place is a very stressful and complex procedure. It also needs a lot of investment to move an office. The cost of moving an office involves many factors. The moving costs factors start accumulating before the move and keep on accumulating even after the move. It is very important to have an estimate of your move and for that, you should prepare a moving budget by calculating all the elements involved in your move.
When we talk about moving expenses it consists of physical things and the consulting fees for preparing your new office space. While making a moving budget, make sure you take into account all the effects of your move on your business and clients and its economic aspects.
Here are some of the major factors that you should consider while making a moving budget for your office relocation:
Plan Your Move
Plan and execute a proper budget for your office relocation. Make sure you include any repairs and construction needed at your new office space. It is wise to contact the person responsible for your new space and ask about the build-out expenses and if they are included in the contract or not.
Consider appointing an appropriate employee to handle the move who should be able to plan and execute all the aspects of your office move. Assign him all move-related duties that may include negotiating with and hiring of moving company, ensuring enough moving supplies for each employee to pack their desk, and managing contact information update for creditors and vendors.
Another important part of planning your move is to make an inventory of all your office goods. This will ensure the safety of your goods as you will be able to calculate the inventory after your move and can compare it with your pre-move inventory. This practice will also help you to keep a record of damage during the move and will also dissuade employee theft.
Contact technicians to know the cost of uninstalling and installing your computers and setting up your phone connections. The phone companies charge an installation fee for installing your phones. Make sure you include every electronic item in the list while getting a quotation from the technicians. Make sure you contact all your service providers including electricity, vending, cable, internet, cleaning, and gas.
Closing of Your Old Office Space
There are some important points that you need to take care of before you leave your old office space. Make sure you examine the office space for any repairs of walls, carpeting, and/or fixtures. Take estimates of these costs.
Inform your landlord about your move. Discuss all the details if you are ending your lease early. Prepare the building for a buyer if you are planning to sell it. Calculate all the costs related to realtor fees, realtor commissions, advertising, and repairing.
Also, calculate the cost of moving your utilities and services including early termination fees. The services may include electricity, vending machines, internet, gas, cleaning, and any other office services.
Moving Your Office
Moving your office will include many costs and the major expense is related to the main moving process. It is advised to create a list of all your moving expenses. This list may include packing supplies, shutting down computer systems, uninstalling of computers and phones, professional movers’ fees, setting up furniture, and installation of computers and phones at your new office space. You must also know what the different relocation services options are.
Make sure you negotiate well with your movers as there is no set fee for moving and it is always negotiable. Don’t leave anything for the last minute. Make sure you arrange a written contract with your mover and write down all the details of services and equipment offered by the moving company. It is important to have a written contract to avoid any moving frauds and hidden charges.
Though most moving companies offer generic insurance of your goods, it is highly recommended to get quotes from insurance companies to cover the damage, theft, or loss of your stuff during the move.
Don’t forget to estimate all the losses that you may have to bear due to office relocation. This will also include the loss of profits in sales that occurred during your relocation.
Maintenance of Public Relations
Having satisfied clients is the most important part of any business so it is very important to update your clients about your move in time. Don’t forget to calculate the costs related to announcing your move that may include press releases, snail-mails, and/or ads.
Make sure you add the cost of stationery that you will have to bear due to a change of address. You will have to reprint some items like menus, signs, signboards, product packaging, collateral material, promotional stationery items, and business cards. You will even have to get your address changed on your company vehicles. So, add these costs also to your moving budget.
Plan your budget for ads that you may like to give on TV, billboards, magazines, newspapers, and any other media.
All of the above-mentioned costs are considered as moving costs so while planning your office moving budget, it is highly recommended to keep all these points in mind.