“What is your budget?”
If you don’t have a budget, don’t feel alone. Most companies are unfamiliar with costs associated with office furniture, and often find themselves dependent upon contract furniture dealers, architects and designers to determine how much they need to spend. But there are some things you can do to on your end that will help them, help you. It will also give you the upper hand at the negotiation stage.
Below are 5 quick tips to help you get started building an office furniture budget:
- Decide how many people you need to provide workspaces and/or seating.
- Decide whether lighting or other furnishings fit into your budget.
- Determine how many spaces you need to fill with furniture, and assign a value to each.
- Add 5% for shipping, 10% for installation, and 10% for tax.
- Add 20% to the total to give yourself a buffer against miscellaneous expenses.
Budgets based on solid information with a bit of a cushion will reduce heartache and hysteria down the road. If you are convinced you need to spend it all, there are no surprises. If you come in under budget, all the better.
Either way, a realistic budget upfront saves money in the long run.