What You Need to Know When Budgeting for a Fitout
When budgeting for a relocation, renovation or office revamps it is important you consider the total cost of your office fitout. Fitouts can be an extremely expensive investment and a large amount of the project costs can be spent on items that you may not consider like air conditioning, fire services, permits and planning. It’s important to understand all the elements involved in delivering an affordable fitout from start to finish and the Canopy Fitouts team is here to help!
The Breakdown of Budgeting for Fitouts
Most project costs will fall into three categories:
- Hard construction such as offices and meeting rooms
- Furniture or soft finishes
Site Selection is Key
When a third of the total project can be spent on items that aren’t really thought of. It makes site selection for your new office critical to ensure you keep to your budget. Delivering an affordable fitout certainly means finding a site that needs few changes however reviewing a new site can be tricky. Some properties can look appealing from the surface and appear to have all the necessary services in place but it’s important you take a proper look into some of the critical high-cost items.
For example, if you are a business looking for a new space and you find something that looks great and has a great existing boardroom that fits 14 people, this is brilliant as you have a large meeting twice a week and this room would be perfect right? Well maybe not. No two businesses are the same and potentially this meeting room was created and designed for a business that only has short meetings in the room. You move into your new office and begin having meetings then realise that the room doesn’t have sufficient supplementary air-condition. Its missing all the power needed to charge their laptops and there isn’t any facility to present data.
You may have been better off building the room from scratch in a different location where there was already an abundant amount of services. The lesson here is to engage early with someone who can help select a site to make your affordable fitout a reality.
It is important to realise that the best way to create an affordable fitout starts right from the beginning.
Here are a few things we sit down and ask our clients.
Checklist When Budgeting for a Fitout
- What sort of space do you need?
- How much space do you need?
- How many offices do you really need?
- What location should your office be in?
- What furniture will you keep, and what will you replace?
- What does your dream office look like? (because affordable doesn’t mean uninspiring)
By carefully assessing the real requirements versus the perceived requirements, things become clearer. When looking for sites you must consider things like reducing your floor plate whilst balancing business growth. Always ask for an expert to help you and complete site inspections prior to committing to any space. Using all the tools available to you will in turn reduce risk and help you stick to your budget. It ensures you have selected a property that is going to fit your business and keep your workspace affordable.
Soft vs. Hard in a Fitout
The soft furnishing of all projects does really create the finishing touches to the workspace, making the office inviting and comfortable. However, they are expensive and generally don’t offer a lot of function. When doing a fitout on a budget you need to consider spending your funds on the fixed items and complex things like building that extra meeting room or adding those additional workstations you need for growth.
This will save you lots of money in the long run. You can always buy another chair, couch or whiteboard later and get it delivered, but when you come back and build a room you will have to pay twice for the permits and planning of the project.
Creating a fitout on a budget is simple, challenge ideas on the type and sort of space you need, look into the future of your business and start planning for that now and most importantly get the right advice upfront from qualified people.
Where to Know?
Select the Canopy Fitouts team for your next affordable fitout – we don’t mind giving you a little advice, so give us a call on 1800 434 868 or email firstname.lastname@example.org and we’d be happy to chat with you!