How to Manage Moving Expenses for your Business

How to Manage Moving Expenses for your Business

Moving and relocation can be a costly endeavor for any business but money can be saved in certain areas to make the financial burden less stressful and more tenable. Your first step should be to create a comprehensive budget for the move. During the chaotic period of transporting goods, costs can accumulate quickly if the budget is left unchecked. Estimate the cost of the supplies that will be needed and ask for quotes from a wide range of moving companies.

If you have the man power and capacity to do so, complete the move without hiring a moving company. You can hire temporary employees if needed for the duration and purchase boxes from office supply stores. If you have any spare boxes lying around in the office, you can utilize them for the move. If you have a team of employees, ask them to fill their vehicles with office furniture and bring it to the new location on the next working day. While this may require more effort, it can result in large savings. Do remember to factor in the cost of gas and any equipment that you may need in your budget. And if you are not planning on hiring a moving company, it is essential to check with your insurance provider to ensure safety from liability in case of accidents or injuries.

If you feel that your business needs the services of a moving company, feel free to negotiate to find yourself the best rate. If possible, offer some of your services in exchange for a break in the cost or volunteer to purchase moving supplies independently as moving companies often mark up the prices on the items that they give out. Use the same strategy if you need to rent out a storage container during the move. Some companies offer a dual deal on moving services and storage which can save you a significant portion on the cost of both.

Before moving, do a thorough spring cleaning of your office by shredding old paperwork and either selling or giving away unwanted items to customers. This will reduce the likelihood that you will transport items needlessly. Have everything packed and ready before the movers arrive since many will charge on an hourly basis and take inventory of all items in case anything goes missing.

Remember to remind all your clients about the change in address in advance to avoid the danger of losing out on their business. Use a non-centralized mode of communication throughout this period such as your cell phone or e-mail address and make sure the internet and phone lines at your new work location are in working order either before or immediately after you move in.

Once you have set up your new office, ensure that you have all your receipts filed and in order since you will have the opportunity to include moving expenses in your tax deductions for the year which can result in even greater savings.


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