Opening a new office requires careful planning and budgeting to make sure you don’t overextend yourself or cause unnecessary delays. Working out a detailed budget ahead of time can protect you from overspending and allow you to allocate time and resources to the highest priority items on your checklist. When creating your budget, you’ll need to consider immediate, short-term, and long-term financial responsibilities, including security deposits, utilities, rent, insurance, renovations, and office furniture. Here is your guide to what to budget for when opening a new office in Phoenix or Tucson, AZ.
One-Time Setup Costs
Buying or leasing office space in Arizona requires a significant upfront costs. These initial one-time setup costs are necessary in order to secure the best location, plan for day-one expenses, and make your office functional. You may need to hire a real estate agent, work with a marketing company, and consult with a headhunter or personnel company to find qualified employees.
Rental Costs and Fees
Beyond just the first month’s rent and a security deposit, it’s also important to budget for rental costs and fees. You may need to pay insurance premiums, brokerage fees, legal fees, and more. If you aren’t expecting these expenses, you may overextend yourself and end up paying even more in late fees or penalties.
Renovations
You may need to remodel or renovate the office space to meet your unique needs. Even just painting and making simple repairs could account for a significant portion of your total budget. Before you begin, do a thorough assessment of the size and layout of the space and draw up detailed designs for each person’s workspace as well as communal spaces and client-facing areas. Don’t forget to plan for the future and account for growth. If you’re on a budget, focus on working with what you have for the time being rather than committing to major changes.
Office Furniture
If the office is unfurnished, you will need to decide between new or used office furniture. Buying new furniture allows you the luxury of picking matching pieces that are durable, high-quality, and built to last. You can invest in modular furniture that can be relocated, adjusted, or reorganized as your needs evolve. The most important office furniture to buy first includes office desks, filing cabinets, reception furniture, conference room tables and chairs, cubicles, and storage solutions.
Technology and Office Equipment
You’ll also need the right office equipment and technology to make your business functional from day one. If your staff is scrambling to get set up on their first day, you may miss out on important business opportunities or set the wrong tone for your new venture. Make sure your office is properly equipped with servers, networking equipment, cables, computers, phone systems, printers and copiers, scanners, and security systems.
Office Supplies
Then you’ll have to invest in office supplies so that you can hit the ground running after moving in. Among other things, you’ll need paper, toner and ink, pens and pencils, folders, notepads, staplers, cleaning supplies, and breakroom, kitchen, and bathroom supplies. Remember to budget for regular restocks of these items as well.
Moving Expenses
Most companies use professional office movers and storage companies, which can be expensive. You should decide if you want full-service movers, who may charge more but can save you time by providing packing and storage services as well as unpacking, installation, and assembly services at your new office location. If you’re on a tighter budget, you can schedule moving-only services and handle the packing and post-move setup yourself.
Signage and Advertising
Finally, you’ll need professional signage for your building’s interior and exterior. This includes wayfinding signs, restroom signs, office directories, desk and office signs, and your company’s name for display in various places. You may also need to invest in advertising costs so that customers will know who you are, what you do, and where to find you. This may include business cards, stationery, print marketing materials like direct mailers and flyers, change of address cards, and more.
Find All of the New Office Equipment and Supplies You Need at Gibson’s
Gibson’s Office Solutions is proud to be one of the most trusted local furniture and office supply stores in Tucson and Phoenix, AZ. We carry a large inventory of quality, new business furniture for any budget and office floor plan. We also offer competitive pricing on office supplies, facility solutions, and breakroom products. Our team of experienced salespeople offer personalized service and great savings. Call us today at (520) 622-6738 or (602) 888-7850 or reach out to us online to learn more or visit our showroom to explore our inventory of office furniture.