Relocating a business can be an exciting venture, opening opportunities for growth and expansion. But when it comes to commercial moving in New York City, there are numerous costs to consider beyond the standard expenses. Some of them are obvious to trained professionals, and some hidden. From permits and logistics to labor and downtime, Eagle Transfer – the leader in commercial moving in NYC – is here to tell you what you need to know.
What should be budgeted for an office move in NYC? One of the largest costs associated with commercial moving in NYC is the office space itself. New York City boasts some of the highest real estate prices in the world, making finding an affordable and suitable location a significant challenge. Aside from the leasing costs, security deposits, and broker fees can quickly add up and should be factored into the moving budget.
Now, let’s talk about moving company fees. Hiring a reputable moving company is crucial to ensure a smooth and efficient relocation process. Factors that affect the price include the size of the office, the number of employees, the complexity of the move, and the distance to the new location. Time of year can also be a factor. Requesting multiple quotes and comparing services will help in finding a competitive price without compromising quality.
Beware of “hidden” costs.
Permits and insurance can be one of those hidden costs that business owners may not be aware of. Navigating the bureaucratic landscape of NYC requires obtaining the necessary permits and insurance for a commercial move. The city has specific regulations regarding parking, loading zones, and street closures, which often necessitate permits. Additionally, commercial moving insurance is crucial to protect against any potential damages to property or equipment during the relocation process. These permit and insurance costs should be included in the moving budget.
Downtime and loss of productivity. This is a soft cost but should be factored into your budget.
During the transition, it is inevitable that the business will experience some downtime. This can result in lost revenue and decreased productivity. Minimizing downtime should be a priority, and planning the move during a period of low activity or strategically coordinating with clients can help mitigate these losses.
Storage and liquidation. Do you need to liquidate items that you no longer need? Will you be storing furniture in between leases? Storage can be arranged if one lease ends and the buildout isn’t complete on the new space. Liquidating items when downsizing is a smart way to make your move more efficient and cost-effective.
Renovation and build-out costs. Rarely is a new commercial space in NYC move-in ready. Renovations or build-outs may be necessary to customize the space to fit the needs of the business. And most companies opt for new furniture to fit the new space, too. If you’re redesigning the space to be in the spirit of co-working or the new hoteling style, this could result in fewer offices and more chairs and open spaces. Plus, costs related to construction, permits, architectural plans, and interior design should be accounted for in the budget. Collaborating with contractors and professionals who specialize in commercial buildouts can help streamline the process and minimize costs.
Ready to begin getting quotes? Commercial moving in New York City presents a unique set of challenges and costs that must be carefully considered. As you start to gather quotes – get a minimum of three – find commercial movers who know the ropes. Since 1974, Eagle Transfer has been helping businesses move safely and efficiently, with the expertise that can only be garnered from nearly 50 years of experience. Get your free moving quote from Eagle Transfer today.