Whether you’re a corporation, nonprofit or small business, keeping costs low is important to you. For this reason, one category of operating costs you should review regularly is the amount of money you spend on office expenses. If this is an area of concern for you, there are several things you can do to reduce your current spending.
7 Tips for Cutting Down on Office Expenses
Here are some money-saving tips that will help you cut costs and lower your office expenses.
1. Buy Refurbished Furniture and Equipment
When you need to set up a new office or replace old furniture and equipment, you may begin your search by looking for brand-new items to purchase. Depending on what you need, this can quickly add up and cost you hundreds, if not thousands of dollars before you are done. A better alternative is to buy lightly used furniture and equipment that has been refurbished and looks practically new. This will save you tons of money to allocate elsewhere.
2. Move to a Cheaper Office Space
If you’re leasing office space and your monthly payment is getting too high, consider whether or not it would be better for you to move to another place. You may be able to lease a cheaper office that saves you money and has everything you need. Or, you could come across an office with more space for you to grow, yet costs the same amount of money that you are currently paying.
3. Install a Water Filtering System
While you may want to hold onto the office water cooler, reverse osmosis commercial systems are a better alternative. The money you spend to purchase and install one is well worth the long-term savings you will see when you no longer have to purchase 5-gallon jugs of water every other week.
4. Switch To Working Remotely
Another money-saving solution to your leasing situation is to move out and switch to working remotely. If this is something your business can do fairly easily, it will save you money on rent and allow your employees to work from home. The money you save can then be put towards other projects and purchases that will help grow your business.
5. Buy Frequently Used Items in Bulk
Instead of placing orders for the same supplies every other week, you can save money by making bulk purchases when you order items that your employees frequently use. This could be anything from ink pens to facial tissue and toilet paper. However, resist the temptation to go over budget and don’t purchase more items than you have room to store.
6. Hire Freelance Workers
If you’re a small business that’s just starting out, you may not have the budget to hire full-time employees with benefits. A great alternative is to hire freelance workers who have the knowledge, experience, and expertise to help you. Depending on your workload and business needs, you can hire them to assist you on a regular basis or to work on projects from time to time, as needed.
7. Negotiate With Vendors
As your vendors increase their prices on products and services they provide for you, you may be able to negotiate discounts in order for them to retain your business. While you shouldn’t try to get over on them, it won’t hurt to have a discussion about their new prices to see what kind of discount they can offer you. The more money you’ve spent with them, the more likely they will try to work something out with you in order to keep you as a loyal customer.
To stay in business, it’s important to track and review your expenses to look for areas where you can cut costs and remain within your budget. By applying these cost-cutting tips to your situation, you’ll see just how easy it is to reduce office expenses and save your business lots of money.