How to Budget for Your Company Relocation

So, your company has decided to move, or is considering moving, and your boss wants to know how much this is going to cost. You may already have an idea about the lease and realtor costs, but you have not even touched on the overwhelming task of obtaining budget figures for the move and build-out of your new space.

There are many different layers of cost involved with moving a company. Consultant costs such as architectural, project management, move management, technology design and furniture management are just a few. You’ll also run into business operational costs such as letterhead, envelopes, business cards, company literature and other business forms.

Furniture costs present their own set of decisions. Will you be purchasing new furniture or refurbished items? What about reusing your old furniture? Does anything need to be refinished or painted? Don’t forget to account for freestanding furniture and storage in reception areas, kitchens, storage areas and conference rooms. Who will provide furniture layout and design services?

Technology costs are also imperative to include as part of your move budget. Computers, printers, copy and fax machines, A/V equipment, security systems, network infrastructure and cabling are just a handful of the many costs to be considered. Expenses for specialty equipment such as mail machines, specialty scanners and other leased equipment need to be accounted for. Although you may not have to buy new, you may need to pay the service contractor to either move or prepare items to be moved.

Facilities operations costs associated with a relocation are often overlooked; such as additional dumpsters, trash removal services, new ID badges, lock and key management, and costs for decommissioning the existing location.

Physical mover costs are just the tip of the iceberg when it comes to budgeting for your relocation. Aside from all of the above mentioned items, you must also account for packing assistance, supply costs for crates or boxes, protection for the building, additional insurance, costs for security and dock/elevator access.

While this list may seem exhaustive, there are many other elements to be considered in a corporate relocation budget. To receive a comprehensive list of items to think about when budgeting for your move, download this helpful Relocation Budget Checklist.

 


Matt DennisMatthew Dennis is the COO and co-founder of 300 Decisions, a strategic, full-service relocation management company specializing in helping organizations transition into new work environments without disrupting business operations.

 

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