There are many elements to running a successful business, but arguably the most important thing of all is keeping your balance sheet in order.

Costs can’t outweigh income if you want to survive and thrive. CFOs and FDs are constantly going through every line on the balance sheet to understand how to save costs and keep their business healthy.

It’s a tough economy and the biggest expenses like workspace will always be under scrutiny. However, the office is often also the heart of the business and vital for both productivity and staff morale.

So, is it possible to reduce the cost of your office without impacting the work that goes on?

The answer is a resounding “yes”! We’ve pulled together our top three ways to reduce your office spend without sacrificing quality.

Understand your need and searching the full marketplace

The most important thing is to learn about the different types of office that are available and understand what you and your staff really want. This is especially true if you’re coming out of a long office lease and haven’t surveyed the market for a long time.

You can now choose from leased, managed, serviced or flexible offices to rent, all of which have their pros and cons.

When you know what’s important for your business and staff, you can narrow it down and make sure you’re only spending on what really matters. For example, there’s no point spending extra on a space with hybrid working facilities if you’re all in the office full time.

You also need to make sure you understand what costs are included with any potential workplace and what might cost you extra. Differentspaces might include some or all of rent, rates, service charge, fit-out,furniture, cleaning, utilities and Telcom in with the rent. Some might have youpay for some of those as additional extras.

You should also be aware of legal fees and potential hidden costs before you choose a new workspace.

Look for early bird opportunities

There are some seriously exciting workspaces launching in Manchester this year and next year. If you’re looking for managed office space to rent in Manchester, a serviced office in Manchester city centre, flex space to lease or anything else – you’re likely to be able to find a brand new option that’s ideal for you.

That presents a major opportunity for any business looking to reduce office costs without sacrificing quality. Building owners and operators are known to do early bird deals to ensure that their new workspaces are full and thriving. If you can secure one, you can enjoy a premium office space at a cut price cost.

Keeping your ear to the ground and acting straight away when opportunity strikes is a surefire way to succeed in today’s office market.

Use a professional office search firm

The final piece of advice we can give is to use a professional office search firm to help you. Office experts will know what space is becoming available and what operators might be willing to do a deal to get your company in.

For example, in the recent past we have saved companies hundreds of thousands of pounds purely through leveraging our market knowledge and using it to negotiate against landlords on behalf of our clients:

·      Lunio - £250,000+ of savings

·      Gibson Hollyhomes – 23% discount on rent secured

·      The Modern Milkman – 36% discount on rent secured

And those are just three examples. If you’re looking to cut your office costs then it really does pay to get expert advice and support.

Want to learn more about our service and how we can help save you money on your office move? Book a discovery call today.

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