Financing An Office Refurbishment

  • October 26, 2015

    For office refurbishments or relocation projects to be successful, it is recommended that you start by getting finances and budget in order. Your budget will determine whether to carry out a full refurbishment of your office, or if a simple workplace renovation undertaking should suffice. As we all know, any change no matter how big or small costs money. There is however a number of ways you can opt for to help finance an office refurbishment project without going beyond the set budget. These include:

    Planning in advance

    Like in any other project in an office, financing an office refurbishment undertaking requires proper and detailed planning. The more details you have before the project could commence the better you will be prepared for any eventuality. And while at it, assemble a project team. The team must then reach an agreement on the exact goals of the project. But before assembling a project team, here are four important questions you need to ask yourself.

    • How many people should I include in the team?
    • Should I look for additional space or extra team members?
    • Do I need to get a bigger meeting area?
    • Do I need to look for additional storage space?

    Understanding the actual business goals can help you to determine the exact budget you will need for your project. In this regard, the contingencies must be factored in as a part of the overall plan in order to take care of any situation that may arise unexpectedly. Being prepared minimizes the chances of going beyond the set budget or even overrunning the time.

    Storing your documents and other office essentials in a storage facility

    With time, an office is one place that accumulates a lot of documents and that all need to be stored before a refurbishment undertaking could commence. The best option in this case is to rent a temporary storage space to store all these files and other essentials. Renting a storage space for your documents is a more money saving option compared to relocating to another place so as to make way for the refurbishment work on the current one. The saved money can then be redirected to fund the refurbishment of the current office.

    Trimming down as much expenses as you could

    An office refurbishment undertaking can be quite expensive. As such, you will need to look at a number of ways to save money before the project. Any cost saving you make in other areas of your business can prove essential when it comes to financing your project. And one of the best ways to determine where money can be saved is to conduct an audit before the commencement of the project. This audit should for example cover areas such a business’s printing processes.

    You will be surprised by the amount of money that is wasted in this area on a daily basis. A simple thing like changing the default printer settings to black and white can help you to save quite a chunk of money. This money can then be redirected to the office refurbishment project. This way you will have saved yourself the bother of looking for other ways to help finance your project.

    All in all, financing an office refurbishment project does not need to give you sleepless nights. As long as you set clear and achievable goals from the onset, and then carefully plan for the project, it is possible to refurbish your workplace within a pre-determined budget.

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