In the present day scenario, your office will be far more important where your staff will be working. All business owners are aware of the influence of making a better office design that can help in staff retention, their creativity, and also productivity.
Therefore, it is no wonder that nowadays, more businesses are investing their time and money for their office fit-outs. There will be quite a few things that can affect your budget. Right from your number of staff to various technical requirements of the business.
Therefore, your budget must be a realistic reflection of how much you will be able to afford or like to spend on your fit-out project. There will be a few questions that can be answered by only you about your office requirements, but what other things that you should consider before you start the fit-out process?
Before you call any outside company like GXI Group for your office refurbishment London you must be very clear about how much can you spend on the project.
From where to start?
Always it is the planning part that is important and often that is overlooked. You may spend your money on the renovation of your space, however, you will fail to understand what can have the maximum impact.
Create a fund for the fit-out project
You must try to find out various sources of your fund so that you can start creating a proper budget for your fit-out project.
You must also evaluate your ROI both in terms of humans, like their wellbeing and also in terms of finance whether it resulted in a happy workplace and productive people etc. If investing a little more can really transform your business then try to create more funds for your project.
While doing it for the first time it is always very difficult to make an exact estimate. As a rule of thumb, any comprehensive refurbishment project may cost anything between £40 to £70/square foot. So your 5,000 square foot office will need a budget of £200 to £350K based on your level of finish.
Basic level of fit-out costs/sq. ft is usually between £35 and £45 and if you want to go for a mid-level fit-out then estimated cost/sq. ft is £45 to £65. If you want to take up a higher level of fit-out project then it will cost on per sq. ft basis will be more than £65.
When you are going to invest in any of the above types of fit-out projects or you want to spend your money on changing your workplace then it will be very important to categorize where your money is going to be spent and also how this investment is going to improve the life of your people.
Your higher amount of budget will allow you to consider all these more effectively, where you may be buying bespoke furniture or will be making structural changes. There are many other things too you may think about that can truly transform the workspace for meeting the requirements of your people as well as the wider organization.