Many businesses are run out of the homes of the entrepreneurs that own them, especially in the earlier stages. However, when your workload begins to grow, and you start to hire members of staff, you may require a bigger space to house your venture. There are many options to choose from here, but the one that offers you the most control is building a home for your business. The only issue is that this can also be costly. With that in mind, here are five ways to save money.
Set A Strict Budget
Before you get any ideas about where you want your new space or what you want it to look like, you need to take a look at your finances. Check in with your accountant or a financial advisor and find out exactly how much money you can afford to spend. When you have complete control over the build, it’s easy to spend more than you intended to. Because of this, you should set your budget in stone and do everything you can to not go over it, no matter how tempting it can be.
Select A Contractor Wisely
You might think that one build would have the same cost no matter who you go to, but this is rarely the case. Some contractors will give you a suspiciously low quote, while others will massively overcharge you. To avoid either, you need to spend some time finding the right contractor for you and your project. Make sure that they listen to your ideas, work with your budget, and, most importantly, have plenty of good references to back them up.
Shop For Reclaimed Materials
A new build doesn’t necessarily need to be constructed from new materials. In fact, using salvaged materials can look just as good, if not better, as well as save you money. However, this isn’t always the case for bricks. The scarcity of reclaimed bricks, as well as the reclamation process, can make them more expensive than new. For this reason, you may want to opt for new imperial bricks instead. You can also fill your new building with second-hand office furniture.
Do The Work Yourself
Choosing the right contractor means that you’ll be offered a fair price, but you can always save a little extra money by handling certain projects yourself. If you’re quite handy and have some free time, then there are many tasks that you can try, such as painting the walls and installing your own sinks or light fittings. That being said, you shouldn’t take on too much work. Unless you have plumbing and electrical experience, it’s safer and cheaper to leave certain tasks to the pros.
Communicate With Your Builder
Before and during the build, it’s important that you keep an open line of communication with your contractor. Make sure that they understand your priorities and are clear on how much you are willing and able to spend. This way, they shouldn’t do anything that you’re not happy with. You should also ask for their advice on other ways to cut costs. Your builder should have completed many similar projects in their time, so they will be able to find a myriad of ways for you to save.
If you’re planning to build a home for your business, then cut costs with the advice above.