When you move into your own office from your home office, you come across a myriad of expenses that you wouldn’t have dealt with. It’s a big step, moving to premises when you’ve spent so long building your company up from scratch. There are a lot of expenses involved in starting a business, and there are even more involved when you want to continue it. Running a business has a lot of costs that you may not have thought of when you outlined your initial business plan.
Moving into an office means searching for premises and deciding whether you want to rent or buy said premises. You need to consider the initial costs of moving into the new premises, then you need to consider the ongoing costs of staying in those premises. It’s not just a one-time payment for things that you will have on your hands, so you’ve got to be budget-prepared to keep your business running smoothly. So, what expenses can you really expect when you haven’t planned for them?
Cleaners. When you buy premises, you won’t be relying on the building managers to arrange to keep your offices clean. You’ll need to arrange this yourself. It’s not just the cleaners that come in and clean the floors and sweep the desks, either. You need to consider paying for window cleaners that come with access equipment, which means that you should ensure that you have enough space for them outside the building. Cleaners can keep the maintenance of your building at its best, which is what clients and customers want to see.
Employees. When you run a home office, you often don’t have a workforce. You’re just you, doing your thing and making it work. An office allows you to have the space for expansion, and a big part of that will be bringing in new people to work alongside you. Employees cost a business money, and not just in salaries. You’ve got to consider the added taxes, payroll costs, training costs and the perks you’ve promised them. Even allowing smoke breaks can cost you money in the long run.
Insurance. You’ve already got insurance for your business, but you need to consider the added insurances that you’ll need for running an office. You have to consider a liability insurance policy, as this will protect you when you have someone suing you. Ideally, this will never happen, but it’s going to be what you need to protect yourself.
Permits. You may not have needed licenses and permits when you worked out of the garage, but you may need them now and you have to be prepared for this financially. You should check with your local community council and local laws to find out whether you will be needing any.
Offices are an exciting step in a business that you’ve spent time building up, but unless you get the expenses sorted out properly, you’re going to have some trouble getting it off the ground.