The price and the operating costs involved in managing an office may really interfere with the complete end result of your company. Right from IT maintenance to utilities and office rent, the expenses are continuing. Actually these costs are needed so as to make sure an effectual as well as smooth running of your business. Taking into account this fact, it will not be wrong to admit that it can be a truly big challenge to keep these expenses under a tight inspection. However, by adopting just a few steps will aid you save money on your office spaces.
1. Owing v/s Leasing
The initial thing you will want to think about owns v/s leasing. And when you are just starting, the latter may give the best option. The basis for this is that leases are generally less costly than the cost of a mortgage, all things being the same. This could mean that you are able to find a location that provides you with access of the demographics you are seeking, along with providing easy entrance for both vehicle and foot traffic. Additionally, leases have limited terms, so if you end up needing to move to different site for some reason, you won’t have to be anxious about selling your present commercial space. You can easily up and move when the terms of your lease run out.
2. Negotiate and Re-Negotiate on your Office Lease
Although it is something as ground as the office lease, you hold never introverted from negotiating. Keep in mind; you can truly save a fraction of your budget if you indulge in some of negotiation. Actually, in the present era when the office vacancy levels are undergoing an exponential rise, the liability of re-negotiating for office lease with your landlord stands a good chance. Rather, office spaces generally are concerned with a wide variety of typical negotiable expenses. Occupants are suggested to take expert advice on the negotiable expenditure so as to obtain the best deal. However, you can also strive negotiating on definite concessions such as the lower rent or on fetching more space at the present rate from the landlord.
3. Shared Office Space
In terms of saving extra money on overhead, you could also reflect on employing a shared office space, an alternative that has become amazingly popular lately, mainly in metropolitan cities like Bangalore. These shared offices give you the chance to rent a space as small as a single desk in a room full of desks or as large as an enclosed room that can home quite a few of your employees. You will use the building in common with other business interests, certainly, but you will pay only for the office space you require and you can even choose to go with a building that caters to your industry so you don’t have to cope with all manner of businesses and their patrons. Certainly, another alternative is that you could manage your business almost by enabling employees to telecommute rather than show up in reason, considerably dipping your overhead expenses in the process.
4. Reassess all Your Office Requirements
When it comes to cutting back on office spaces, reconsidering all your office requirements can truly serve as a real useful option. You can even try to go in for the office spaces that by now come with a kit out. You can in fact save a good fraction of your money based on what all things you need in your office. Try getting an office space that is already fitted with all your requirements and other preferred stuff. Procuring a ready-made office with all the equipment and supplies is a cheaper option than purchasing all the tongs separately. In addition, for your existing office you can think switching up your suppliers so as to save some real cash. Don’t get fixed to one particular supplier. You never know when the other supplier might be offering the same things at a bigger discount.
5. Make the Best Use of your Office Space
With office rents reaching the top, you must strive hard to ensure that you are really employing each square inch of the obtainable space to the maximum. Though this does not involve filling up every cubic meter with something or another, it is more about designing your office space in a way that improves the usage of the space and also finally boosts up the efficiency of the employees. Go in for a workplace assessment in order to make sure that your office space configuration and plan is being used to its maximized benefit.
6. Think Cautiously Before Deciding a Location
Most people do not think about the location parameter while taking into account the factors for an office space. Actually, all they think is to think about place which is in proportion to their personal preference. However, it is surely much more than that. Keep in mind, the cost of an office space varies considerably as per the location. Thus, you must never choose for a costly location until it offers you an additional benefit in terms of your patrons.
7. Taking Up ECO Friendly Practices
This can in fact help you in saving some money. Ask all your staff members to ensure that their computers are completely switched off at the end of the day. Also, consider switching off the lights completely or better consider the motion sensor lighting system. This practice is more useful for smaller businesses such as the small offices in Bangalore.