The Cost of Moving a Business
Business Moving Costs
Is your business expanding? Has your office rent increased beyond your means or does your business need a better location to reinvigorate performance and attract new clients? If so, it may be time to consider relocating your business. After reviewing all your options and checking that you can exit your lease in time, you will also need to look at whether you can financially afford it.
The cost of moving a business depends very much on the size of your business, the location and your individual requirements. To help you establish a budget for your business move, this article covers the cost components that are common to most office moves:
When setting your business relocation budget, make sure you use the Moving Office Budget Planner to help you manage your moving costs easily.
Moving Office Cost Components
Office Rent: This will, of course, depend on the type, size, location of the property and the current market conditions.
Security Deposit: The amount can vary according to the length of the lease but will typically be between 3 and 12 months.
Legal Fees: You will need to hire a Real Estate Lawyer to negotiate the detail of the lease documentation and minimize your exposure to potential liabilities.
Buildings Insurance: This will insure the contents, fixtures and fittings of your office against loss or damage.
Office Build-Out: The design and build-out of your new office to ensure your business and staff can operate efficiently. You should also incorporate any new office furniture you need to purchase for the new office.
IT & Telecoms: If you are moving a lot or complex IT equipment, you should consider hiring an IT Relocation Company to ensure your business-critical equipment is set up and working correctly in the new office. You might also consider reviewing your IT and phone systems and upgrading to the latest technology.
Office Moving Company: You should hire a professional Office Moving Company to ensure everything is transported safely and securely - with everything in it's right place when you get to the new office. Get your Office Moving Company Quotes here.
Office Retrofit: The cost of returning your property at the end of the lease in the state in which it was when you moved in.
Corporate Costs: Consider reprinting of letterheads, new signage, business cards and updating all your collateral with the new office address contact details.
If you need help putting your Business Moving Budget together, start using the Moving Office Budget Planner now.
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