By | Sierra Powell
If your business is expanding or if you have been offered new office and warehouse space, you will have to move to your new space. This can be an exciting time, but any move can prove to be very expensive to your business as you will accrue additional business expenses. It is important to find ways to cut the costs of the move of your business in order to save the most money so you do no that you do not have to make cuts elsewhere. Continue reading to learn five ways you can cut costs when moving your business.
Do Your Research
There are many moving agencies and moving personnel who are available to hire, so it is important that you do not settle fr the first company that you find. If you perform your research, you may find a company that is willing to work with you for a discounted rate with a partnership, for instance. You should also research the costs of shipping the largest materials or products that your business has. If you have a dealership, for instance, look up the motorcycle shipping cost. This will help you to budget and determine ways to save before the move actually occurs so that you are prepared for every cost.
Set a Timeline
Some days and months of the year are more inexpensive to move on than others, especially if you book moving services. Try to avoid moving in the middle of the summer, as this is the most expensive time that your moving company may have. You should also try to avoid moving your business on the weekend if you can at all help it as moving on a weekday can save you money. You could even ask to borrow trucks or use the trucks that your business has in their fleet if you really want to cut the costs.
Review the Contract
Once your business has hired a moving company, it is so important to look over your contract in detail. In many cases, you have the option to choose between an hourly rate or a flat rate. If you have a lot to move with your business, you may save more money by choosing the flat rate, especially if you are expecting the move to take several days. It is also important to look at your contract to determine if there are any charges that should not be there and to get them resolved as soon as possible.
Get Free Supplies
When you get inventory in and when you are expecting to move your business in the near future, start saving boxes. You can also find moving boxes on classified ads, whether online or in the newspaper, and even by asking other businesses. You can also go to discount websites to find moving supplies for much cheaper, including bubble wrap and other packing materials necessary for fragile goods. You can also always ask your network, including family members and friends, for any extra moving boxes or packing supplies that they may have.
Make a Tax Deduction
You can deduct the costs of moving when it is time for tax season. This will lessen the amount that you owe on your taxes when it comes time to make your payment to the government. You can claim your moving expenses via Form 3903, which will be added to the common form that is known as Form 1040. This will help you to save in the long-term, as well as in the short-term, so there is nothing to worry about for your business.
Moving is necessary for your business if you are undergoing an expansion or a relocation in order to make it better. If you are a business owner and need to move, consider the tips above to help you save on the expensive costs that are associated with the move. Be sure to talk with your financial advisor as well about the tax deductions that you may be eligible for that are associated with your moving costs. You will not be surprised, however, when you keep these tips in mind and budget ahead of time for the moving costs you are expecting.