Contributed post
Ownership of commercial property can break the bank for various reasons. Buying the thing could clear your profits. That’s before you even think about how much electricity and heating bills could cost. At few other times are you at risk of spending such large sums of money in such a short space of time. And, that’s before you even consider decorating the space the way you want.
This is the main reason many companies end up operating in spaces which look far from perfect. But, rest assured that you don’t want to do the same. Office appearance dictates everything from customer satisfaction to productivity. As such, you need to spend to get money back. The only trouble is, there’s no guarantee you’ll see an initial return on that investment. What’s worse, it’s easy to get yourself into debt if you don’t take care here. One chair there and one art piece there could fast leave your bank account floundering.
The good news is, there are ways to make sure that doesn’t happen. And, to help you along a little, we’re going to outline a few of them here.
Include decor costs in your real estate budget
Dealing with your finances when it comes to decor starts way back before you even invest in a commercial space. We all work hard to develop a property budget which we can manage. But, you may still be going wrong by not including how much you need to spend on decor. That could mean spending top whack on an office and still facing substantial costs to do it up. Instead, keep this in mind from the off. Reduce estimated decor budgets from your property offer, and be honest about why. The chances are this will bag you a bargain and free up some cash for the cause.
Know your budget before you start work
Even if you knock money off for decor, it’s easier than you would imagine to overstretch that budget. The cost of these things adds up. So, whether you’re doing this yourself or relying on a company who offer office fit outs, it’s crucial you know how much you have to play with. You should return to this budget through every stage of the process to make sure you aren’t overstepping. Taking your eye off the ball for even one day could see your bank empty and slipping foul to the D word. Stay on track and keep your budget in mind to make sure that doesn’t happen.
Focus on basics first
Last, bear in mind that you should focus on your basics above all. Things like comfortable chairs and decent paint color should come first. They may be the most expensive additions, but they’re the ones which can make the most difference. As you earn more, you can then add features like plants and inspirational wall art. By splitting things up this way, you could have the office of your dreams and a healthy bank balance at the same time.