Flexibility is a growing priority when it comes to financing an office fit-out, and there are methods which correspond with the differing needs of your business. Whilst paying from capital funds means paying the cost in one large sum, it does require the availability of the cash, in comparison to methods such as leasing or loaning from the bank. Both of these options allow you to pay the money back in monthly repayments allowing an evenly distributed cash flow throughout the year.
As mentioned in our previous blog on the subject of office fit-out costs. Typically, we say that costs are from £40 - £70 per square foot. However, there are a number of key factors that can affect how much your office fit-out ends up costing. When budgeting we firstly point towards a cost calculator which helps give you an idea of all the different costs associated with an office fit-out. This quick calculation helps you obtain a cost for your project and is a great place to start to initially sense check whether your budget will meet your expectations.
It’s a crossroads that many clients find themselves at. You’ve found yourself a contractor but you’re not sure whether to tell them your total budget. From our experience of office fit-outs, disclosing your full budget to your chosen supplier can only help your project in the long run. While setting a budget in general is one way of financially measuring success for any project, it is very important to set one for an office fit-out. A budget doesn’t have to be set in stone from the offset, having a ball-park figure will help you achieve the best advice on allocating your time and money.
Officeinsight offers a turnkey design and fit-out which involves everything required to create a fully functioning office from scratch. With this in mind, the estimate given to you by Officeinsight covers everything required during the Design and Deliver stage of your project. Designed to offer piece of mind and full transparency, Officeinsight’s project estimate detailed all elements – services, contractors, fixtures and fittings – providing a single total value for the project.
It is important to agree what the budget is and what success looks like at the beginning of an office fit-out project. Depending on these outcomes, a decision can be made on whether the budget is likely to be enough. It is important at this stage to remember that there may be a need to adjust the budget, or reduce the scope of works required to better align the two!
To help get your office fit-out off the ground, we’ve shared some helpful financial information on the various ways to finance your office-fit out.
There are several benefits of an office fit-out project, such as improved employee retention, attracting the best talent, the potential productivity boost and the enhanced employee well-being. But these alone may not be enough to convince the key decision makers - what you need is concrete facts, not speculation. To aid those discussions, we've put together a list of ways to measure the potential ROI, taking both tangible and the more intangible benefits derived from an office fit-out to ensure that you can present a solid business case for your project.
Preparing for a fit-out? Follow our four-step pre-planning process to ensure you get it right first time. No matter whether you’re planning a refurbishment to an existing office or moving to a completely new workspace. Your workplace is central part of the business. To help you get your project off the ground, we’ve prepared what a good plan looks like – a four-step process to get your office fit-out started on the right foot.
O&M in the office-fit out and construction industry means ‘Operations and Maintenance’. O & M refers to the functions, duties and skilled labour associated with the daily operation on-site. During an office fit-out, operations and maintenance is a key part of the Officeinsight ‘Deliver’ process as our specialist team manage the whole fit-out process to deliver the project on time and to budget. The O&M manual is compiled throughout the project and is handed over on completion.
First and foremost, it's important to understand what a 'design and build' fit-out and a 'traditional' build is when it comes to an office-out. ‘Design and build’ or D&B as its more commonly referred to is a method of office fit-out project delivery in which one partner is contracted with the client to provide complete design and construction services. While the ‘traditional’ build approach is where design and construction are handled by separate contractors – separate contracts, separate teams, separate work.