How to Budget for Your Office Move

You never know what’s going to come up with your office move, but with smart budgeting you can prepare for the worst case scenario.

budgetHow do you know if you’ve budgeted for that scenario?  Follow these tips to ensure your budget keeps the stress and hassle of moving in check:

  • Create a template - …or download one online.  It’s easiest to budget if you have a line-item template to use.
  • Add in the moving company expenses – Include the moving company fee.  Get estimates from at least three companies and put the highest quote on your budget. Additional insurance – If you think your items are worth more than they’re currently insured for, get three quotes for this and add the highest one in.
  • Extra services – what does it cost to have my moving company pack our files, perform computer disconnect/re-connects, decommission my old office.
  • Extra charges – Consider this for items such as expedited services or moving over a holiday.
  • New office costs – Include factors such as rent, the amount of the security deposit, legal fees, building insurance, office design, new office furniture, new phone systems, new IT infrastructure, and archiving and storage.
  • Existing office repairs – Are these your responsibility or the landlord’s?  Check your lease to be sure and budget for the repairs.
  • Special transportation costs – haz-mat, dedicated trucks, security escorts, temperature control trucks, these are all items/services available to you however they typically come at a higher cost than traditional moving vans.
  • Staff hours – Don’t forget to budget for the employee hours that will be spent helping with the move.
  • Advising fees – If you need a tenant representative broker, lawyer, office designer, general contractor, project manager or telecom consultant, budget for these as necessary.
  • Marketing costs – You’re going to have to tell all your clients and customers about your new location.  Devise a marketing/PR strategy and estimate the costs.
  • Early lease termination penalty – If you decided to just pay the penalty so you can move, make sure you include it in your budget.
  • Taxes – Usually they’re included in your rent, but if for some reason they’re not, create a separate item for them.

Now that you’ve got the nitty gritty of the budgeting out of the way, it’s time to enjoy your move!