Office Fit Out Costs: What You Need to Know Before You S

Office fit-outs can make a world of difference to your office space as well as your company as a whole. The right fit-out can maximise productivity, lead to higher employee satisfaction, develop a brand image, and utilise resources more efficiently. A fit-out can even be specified to be aligned with your objectives, vision, and values of your company. Therefore, giving you the chance to build a seamless experience for your customers, team, and organisation. There are multiple benefits to getting a new office fit-out. However, they’re not the only things to consider when deciding to revamp your office—office fit out costs play a critical role.

Different customer behaviour research shows that the main determining factor when it comes to making a purchasing decision is the cost. When you think about revamping your office, it’s essential to consider two of the most crucial things before deciding. The first is to fully understand your requirements. To understand better what this may entail, here is an office fitout checklist to answer any questions you may have. The second is to have a clear budget that aligns with your expected office fit out costs.

Average Cost of a New Office Fit-out

Office fit-outs are dynamic projects that require a great deal of knowledge and planning. You need a keen eye to successfully implement proper space planning, installing meeting rooms, partitioning, IT equipment, and lighting. A long list of things usually means higher office fit out costs, but you’re probably wondering, “What does something like this cost?”

Asking how much does this cost is like asking, “How much does dinner cost?” – Well, it depends! Do you want to cook at home? Do you enjoy fast food? Or do you want dinner from a five-star restaurant?

Knowing what you’re looking for in an office fit-out is essential when it comes to managing office fit out costs.

Let’s take a look at a few examples below.

Basic Office Fit-out: This option will provide a conventional office design. It consists of new flooring, basic office desks and seating, and decorations. Such a project will cost around $785 AUD per square meter.

Mid Range Office Fit-out: This option will provide a higher quality of materials and be used in larger office space. You will be charged around $980 AUD per square meter for a mid-range office fit-out.

High Spec Office Fit-out: This option will provide a top-notch workplace. It involves interior design experts and workspace planners to meet all your demands and outfit with everything you want. Price can be anything from $1235 AUD per square meter and up.

It makes it easier to determine if an office fit-out is something you want with reference points in mind. It allows you to adjust your budget to meet your demands and control overall office fit out costs.

Return on Investment of an Office Fit-out

Your budget will ultimately decide if you require a new office fit-out. You may be feeling overwhelmed and discouraged if your budget is smaller than the ‘basic office fit-out’ cost. Don’t worry, though—office fit-outs also help in recuperating office fit out costs over time.

So what if you are a cash strapped company? And don’t have the luxury to take on projects that don’t provide you with a good return on investment (ROI)? These are questions we get asked a lot at Interia! By focusing on the ROI of your office revamp, we ensure long-term savings for your company.

The ROI of the project helps reduce the overall office fit out costs in the long term. Cost reduction is possible with savings, increased productivity, or contributing to wellbeing and staff retention. Let’s examine a few ways an office fit-out can reduce organisational costs and save money.

Reducing organisation costs

Energy Consumption Reduced – Energy is expensive! Focusing on cutting down electricity costs can save you money each month. One way this can be done is by swapping the standard 4-tube fluorescent light bulbs to LED alternatives. Sepco stated that the LED bulbs are 85% more efficient, have a longer lifespan, and fewer bulbs are needed. With smart designs, natural lighting, and automatic lights, you can significantly cut down your electricity bill each month—offsetting your initial office fit out costs.

Wellbeing and Staff Retention – Utilising natural light also improves the wellbeing and productivity of your team. A recent article by Harvard Business Review found that access to natural light increased 78% of people’s wellbeing. Furthermore, the productivity of seven out of 10 people at the office increased as well! In addition to utilising natural lighting, you can add comfortable furniture to use and relax on. Office layouts that promote collaboration and places that provide ample room for movement will improve wellbeing.

A report by WHO shows how vital wellbeing is at work. Regarding reducing sick days and increasing retention rates, wellbeing and mental health were the most important. An article by CEO Today quantifies how sick days can affect your business. Whereas, in 2016, on average, a company with 49 individuals saw a sickness absence rate of 2.2%. Which resulted in the company losing in total 49,000 AUD (hourly rate of 26 AUD)!

Revamping your office to improve workflow and wellbeing of team members can be expensive and time-consuming. However, the benefits of doing so can positively impact your bottom dollar and justify your office fit out costs. With a small increase in wellbeing and a decrease in sick days, your company can save thousands of dollars each year!

ROI is an important factor when it comes to making a decision to get a new office fit-out. But the issue of having a small budget may still be affecting your decision. In the next section, we will talk about how to get your project done with a small budget!

Small Budget? No Problem!

You may be thinking, “Okay, I can recuperate my investment costs, but I’m strapped for cash now. How do I do this on a budget?” We plan on giving you the insights to do just that! We want to make it a little easier to get the results you want for the budget you’ve set while managing office fit out costs effectively.

There are multiple ways you can cut costs while still getting the right fit-out. Focus on the following to meet your company’s goals and vision, all while staying under your budget.

Here are a few things you can do to keep the costs down:

Plan Ahead – This may be the single most important thing to do when considering an office fit-out! No matter the size of your office or the fit-out you intend, it’s important to know what’s available. By properly informing yourself of the project and having a concrete idea about what you want, you will be able to stay focused and avoid unnecessary expenses—helping control office fit out costs.

Choose the Right Building – This applies to changing locations or looking to open a new office! If possible, pick locations that have partial fit-outs already installed as well as layouts with existing kitchens and restrooms to reduce office fit out costs.

Reuse and Repurpose – When moving offices or revamping your existing one, there are opportunities to reuse and repurpose items. This reduces waste and lowers your overall office fit out costs.

Open Plan Office – An open plan can save you lots of money when it comes to constructing your new office. By minimising walls, you reduce construction expenses and overall office fit out costs.

Get Help From a Professional – Involving a professional is one of the best ways to save money and time. Experts can help optimise your design, avoid costly mistakes, and ultimately reduce office fit out costs.

You Have the Power, Ready to Decide?

Deciding to get a new office fit-out may be challenging for multiple reasons. One thing that you don’t need to worry about is having a small budget. By planning ahead, having a precise idea, and consulting a professional, your new office fit-out can meet your budget requirements while managing office fit out costs effectively. With opportunities to get a great ROI, you can be sure to recuperate your office fit out costs over time. Additionally, improving employee wellbeing can increase productivity while reducing sick days.

Invest a little or a lot; your new office fit-out will make a big difference for your company. Talk to our team today or visit our Perth Showroom and find out how to save, recuperate, and maximise value from your office fit out costs.