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.
