Budgeting for an Office Relocation: Strategies for Cost Control & Forecasting

The Direct Costs of Office Relocation

First and foremost, there are direct costs associated with your office relocation. These costs will largely be determined by the moving vendor you choose, and it’s always important to get a comprehensive estimate before you sign a contract. At Corovan, we take the time to carefully audit each relocation project, providing a detailed accounting of our costs before the move begins.

Consider just some of the most significant direct moving costs:

• Packing office equipment. The labor and material costs needed for packaging your office supplies and equipment can vary quite a bit by company. Desks and workstations are usually fairly easy to pack up. High-end equipment, including scientific instruments, will require more specialized care; while this can inflate costs on the front-end, it’s better to invest in the right movers than to risk equipment damage and costly replacement needs.
• Moving office equipment. Moving costs will usually be determined according to the number of items being moved as well as the total distance traveled. Again, it’s important to be mindful of the potential for items to be lost or damaged in transit, making it worthwhile to invest in movers that take careful inventory, use advanced tracking technologies, and offer specialized handling of sensitive items.
• Buying office equipment. Setting up in a new space will almost always involve the purchase of new furniture that fits well in the chosen location. Moving partners who offer inventory and storage capabilities can help you ensure judicious purchasing decisions. Don’t forget about aesthetics, too. Your new office needs furniture to make it functional, but also decor to make it feel inviting and hospitable.

The Indirect Costs of Office Relocation

Beyond these direct costs, there are also some indirect costs associated with office relocation. These can be a little bit harder to pin down, but some categories to think about include:

• Moving during business hours. Relocating during normal business hours means lost productivity, which can hurt the bottom line. Ensure a moving vendor that can carefully plan out your move to minimize disruption.
• Organizing the new space. It can also cost time and productivity, and thus dollars, to fully configure the new office space, ensuring maximum productivity for your employees. Again, advanced planning and organization are key. Have a plan for how you’ll set up the new space before you actually get over there.
• Acclimating your employees. An office relocation can cause a lot of anxiety among your employees, who may struggle with the transition into a new environment. When thinking about costs, it’s important to consider the time it will take to familiarize employees with their new surroundings, and to help them feel more comfortable in the new work environment.

Budgeting for a Successful Office Relocation

Ultimately, there are always going to be a lot of cost variables to think about when transitioning from one workspace to the next. The best way to develop a robust budget is to find a commercial moving partner who will help you innumerate these different variables, while also providing safeguards against needless expenses such as equipment replacement.

At Corovan, we boast decades of experience coordinating enterprise-level moves, helping our corporate clients complete their relocation projects without overextending their budgets. We’d love to tell you more about our approach to cost control. Reach out to us whenever you’re ready to set up a consultation.