Often times, business owners underestimate the cost of relocating their companies. As a result, they set their office moving budgets incorrectly and end up in deep water. If you want to avoid this common occurrence and maintain a positive financial situation for your business, you need to learn what the main relocation expenses are. Dedicate a small portion of your time to reading this post so that you can educate yourself on the top office moving budget costs to factor in.
Moving Company Fees
Firstly, you need to factor the moving company fees into your office moving budget. While these seems like an obvious expense, many business owners fail to correctly calculate the total cost. Keep in mind that every office space will differ in price. Movers base their fees on the size of the office. After all, the size affects the amount of contents that will need to be moved. However, movers also consider how many truckloads they will need to transport. Therefore, if you have a lot of materials in one small office, your price will increase regardless of your old space’s square footage. Keep these basic moving company fees in mind when making a moving budget for your relocation.
Existing Office Repairs
Another cost to factor into your office moving budget is the fees for existing office repairs. Sometimes, movers and/or business owners damage office spaces while they are moving. If you list states that you will still be responsible for these costs, you will need to pay them. Depending on the appliance repair business you hire, these costs could break the bank. For this reason, professionals advise business owners to determine whether they are liable for such costs before beginning the moving process. After all, if you are responsible for them, you will need to include potential expenses in your moving budget.
Furthermore, well-educated business owners pay for insurance when they initiate their office move. While certain employers assume that the free basic coverage supplied in the terms and conditions of some movers’ conditions is enough, it usually is not. The coverage rate is extremely low compared to other types of insurance. If the movers dropped your flat screen TV and broke it, you would not get anywhere near enough capital to replace it without additional insurance. For this reason, most business owners opt for Full Value Protection, which ensures that the movers you hire are liable for damages. Add insurance costs into your office moving budget to protect your expensive furniture.
Utilities At Your New Location
Factor in the utility costs at your new location as well. Unfortunately, a large amount of business owners forget about this expense. Their excitement gets the best of them and they assume that they will walk into a nice office, ready to get straight to work. While this would be ideal, it is not realistic. You will need to pay for the utilities listed in your lease. These typically include maintenance fees and Wi-Fi. Add other necessary pieces of equipment in this section as well. For instance, if you own a salon, you may need new salon software. Include utility costs in your moving budget to ensure that you obtain enough capital to relocate comfortably.
Lastly, do not forget about tipping your moving company. As a business owner, you know the positive results that stem from showing your appreciation to your employees. The same goes for your moving company. Give them a 10-20% tip to show them how grateful you are for their good services. They will remember your generosity should you need their services again in the future. In turn, they will work hard to supply you with the best services they can. Calculate good movers’ tips to create a realistic office moving budget.
In order to maintain a good business financial situation during your relocation, you need to set an office moving budget. Then, you can feel relieved when you get business credit reports. Begin by calculating the basic moving cost fees that are usually determined based on square footage. Then, factor in any existing office repairs that you are legally required to pay for. Pay for additional insurance to avoid having to pay for broken or lost pieces of furniture later. Include costs for utilities such as electric and Wi-Fi at your new location. Finally, remember to tip your movers so that they know how grateful you are for their services. Factor these relocation costs into your office moving budget.