Reducing business expenses

Reduce The Operating Costs Of Your Office Space In 3 Steps

Reduce The Operating Costs Of Your Office Space In 3 Steps

Having an office will bring benefits that help your business move ahead and grow. It’s nice to have a collaborative space where employees can work together to form new ideas and be productive. With that being said, offices are very expensive to run - especially if you don’t manage the expenses effectively. Today, we’re looking at three simple steps that’ll help you reduce the operating costs of your office space immediately. 

Step 1: BYOD

BYOD is an acronym standing for Bring Your Own Device. It’s a tactic many modern businesses employ to reduce the overall costs of running an office. Why? Because it encourages employees to bring their laptops to work, rather than using office computers. Immediately, this negates the cost of acquiring computers. But, even better, laptops are cheaper to run and don’t consume as much electricity. This reduces your daily electricity bill and makes it a bit easier to keep up with monthly office payments. 

Step 2: Manage all devices/appliances

An office will be composed of many devices/appliances - a handful of which you don’t think about half the time. Yes, you may not have as many computers with a BYOD policy, but you still have the following: 

  • Printers
  • Photocopiers
  • HVAC systems
  • Lighting systems

The list can go on, but all of these devices/appliances consume energy. The trick is managing them through Building Automation and Control Systems. These systems let you install smart devices throughout your office that all connect to an app. Through the app, you can control things like the brightness of lights, automatically turning things off at certain times, and so on. 

Having this level of control basically lets you figure out how to save energy in your office. Again, this is a key thing to focus on as energy bills make up a substantial portion of your operating costs. It’s also the only thing you can truly manipulate month to month - you’re unlikely to negotiate new rental terms! With better device management, you can save a fortune and improve your monthly cash flow

Step 3: Rent out unused areas of your office

Whether it’s a desk, a meeting room, or any other part of your office, you should consider renting it out. 

If you’re not getting the most out of your office space, you are wasting money paying for it. Renting out a few desks is a genius idea as professionals will pay to work there during the day. You get on with your business, and they get on with theirs. Meeting rooms are even better - people will rent them out to conduct private meetings with their own clients, or to use when brainstorming. Etc. 

The idea is that you’re getting supplementary income that goes towards the office costs. So, less cash leaves your account, meaning you’ve basically reduced the cost of running your office. 

Don’t let operating costs get in the way of great office space. Adopt the ideas in this post and you will soon see substantial savings. 

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Dave Gardner

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