Revamping Your Boardroom on a Budget

Revamping Your Boardroom on a Budget

/0 Comments/in , /by

A well-equipped and up-to-date boardroom can help boost employee morale and impress clients. However, it can be expensive to keep up with the latest trends and technologies. As a business owner, you don’t have to break the bank to make your boardroom look modern and professional. In this blog post, we’ll offer some tips and tricks that will help you in revamping your boardroom on a budget.

  1. Assess Your Current Set-up

The first step in updating your boardroom is to take a close look at your current set-up. Start by identifying what works well and what doesn’t. Consider feedback from employees and clients, and evaluate the functionality of your technology. Are your chairs comfortable? Is your projector outdated? Once you’ve identified the strengths and weaknesses of your boardroom, you can plan your upgrades more effectively.

  1. Choose Your Upgrades Wisely

When updating your boardroom, it’s important to prioritise your upgrades. Start with the most critical items on your list, such as a new projector or better lighting. These fundamental improvements can make a significant difference in the overall look and feel of your boardroom. Then, move on to other items, such as new chairs or a fresh coat of paint. By carefully selecting your upgrades based on importance, you’ll be able to make the most of your budget.

  1. Look for Deals and Discounts

Don’t be afraid to shop around when upgrading your boardroom. Look for deals and discounts on the technology and furniture you need. Many retailers offer sales or clearance items, which can help you save a significant amount of money. Additionally, consider purchasing used or refurbished items, which are often much cheaper than brand new equipment. Another way to save money is through leasing. Receiving the finance you need for the office fitout will help excel your refurb to the next level.

  1. Get Creative with Décor

Upgrading your boardroom doesn’t have to be limited to technology and furniture. You can also make your space look more modern and professional with creative décor. Consider adding a fresh coat of paint, hanging new artwork, or adding plants. These small touches can make a big difference in the overall look and feel of your boardroom.

  1. DIY if Possible

Finally, consider doing some upgrades yourself if possible. For instance, if you’re handy with a paintbrush, you might be able to freshen up your boardroom with a coat of paint. Likewise, you can easily upgrade your décor with DIY projects, such as crafting your own artwork or building your own shelves. Doing some upgrades yourself can help you save money and add a personal touch to your boardroom.

Contact Us

Updating your boardroom doesn’t have to be a major expense. With careful planning and resourcefulness, you can make your boardroom look professional and modern on a budget. By assessing your current set-up, prioritising your upgrades, and getting creative with décor, you’ll be able to create a space that impresses employees and clients alike. Remember, smart shopping and DIY projects can help you stretch your budget even further. Leasing and finance is also one way to give your boardroom the refresh it deserves today. Contact us to find out more.

How to maximise your small office space

How to maximise your small office space

/0 Comments/in , /by

Office space is one of the most crucial elements in running your business. However, between rental costs, location considerations, and the high price tags of commercial buildings, finding the perfect office space can be a challenge. If you do find yourself working from a small office space, you might feel like you have limited options when it comes to maximising the space you have. But fear not- this blog post covers everything you need to know about how to maximise on your small office space and create a productive and comfortable workspace.

  1. Invest in intelligent storage solutions

One of the most effective ways to maximise your small office space is by investing in intelligent storage solutions. Vertical and floating shelves, under-desk storage, and wall-mounted cabinets can provide ample space for storing documents, equipment, and other essentials while keeping your desk and floor space clear. You can also use storage crates that double as accent pieces to add style and function to your small space.

  1. Create a flexible layout

Another way to solve the issue of a small office space is by creating a flexible layout. You can maximise the space by creating sections that support various activities, such as a lounge area or a work spot with a standing desk. By creating a flexible layout, you can utilise the space according to your needs.

  1. Use natural light and open windows

The indoor environment can significantly impact your productivity. It’s essential to create a comfortable atmosphere that promotes your well-being. Natural light and ventilation can make a big difference in this regard. As such, investing in blinds that allow maximum natural light and opening windows during the day could boost your mood, energy, and work output.

  1. Utilise multifunctional furniture

One of the best hacks for maximising small office spaces is using multifunctional furniture. You can utilise bookcases and desks with built-in storage or use a table that transforms from a workspace to a meeting spot. This way, you use less space while also incorporating more functionality into one piece of furniture.

  1. Keep it tidy with a regular purge

Lastly, the most effective way to ensure you’re maximising your small office space is through regular purging. Clutter is enemy number one of productivity and reduced space. Keep your space tidy by purging the items that you no longer need or use. This process will help you free up valuable storage space, streamline your workflow and ultimately make your office environment more productive and efficient.

Contact Us

Creating a comfortable, productive workspace in a small office space is possible when you adopt innovative storage solutions, flexible layouts, and utilise multifunctional furniture. Keep your space tidy through a regular purge and incorporate natural light and ventilation to boost your mood, energy, and efficiency. By implementing these tips, you’ll be well on your way to maximising that small office space to your benefit. Contact us to find out more.

Case Study - Edinburgh Indian Restaurant

Case Study – Edinburgh Indian Restaurant

/0 Comments/in , /by

Case Study – Edinburgh Indian Restaurant

Opening a new restaurant is an expensive project to undertake. In most instances, there is a complete refit, including installation of new dining furniture as well as the additional cost of all the catering equipment. Even with a modest restaurant, the fit-out cost can run into the hundreds of thousands of pounds. Restaurant owners have many options when it comes to funding this cost. Therefore many new start eatery owners will use personal funds or ask family and friends to make a financial investment. There are also bank loans; and, in some instances, the landlord may even help with funding some of the refurbishment costs. It is common for funding to come from many sources. Leasing is a popular funding choice for restaurants. The rental repayments are fixed for periods up to five years. This makes budgeting easier as you can better match the cost to income from your customers.

Lease Calculation

To give you an example of a lease calculation, we did a project for a new Indian restaurant in Edinburgh. Our customer pays £350.00 + VAT per month for £10,000.00 + VAT of equipment over three years. This would therefore reduce to £220.00 + VAT per month if they decide to change the term to five years. We can fund many of the expenses you may incur. In this instance, we financed the air conditioning costs, comprising a gas interlock panel and a Toshiba Triple Split air conditioning system. They added to the same lease agreement a range of stainless steel tables. They were used in the kitchen and a double sink.

Many of our other clients ask to include a CCTV system, the EPOS tills, chairs, tables, lighting, signage, and other equipment necessary for a commercial kitchen. This particular client has a number of restaurants. Clearly, we were only involved in a small part of their overall project for this location.

Contact Us

If you would like more information on our case Study of the Edinburgh Indian Restaurant then head over to our contact page on our website to speak to a member of our team. Additionally, if you would like to talk to us over the phone then please call 01494 506 385 or email hello@fitout.finance.

Sustainability and Fit-Out Finance

Sustainability and Fit-Out Finance: A Green Approach

/0 Comments/in , /by

As the world moves towards sustainable living, businesses cannot afford to ignore the importance of environmental responsibility in their operations. One of the ways companies can contribute to this cause is by adopting a green approach to their fit-out finance. Fit-out finance is the process of financing the design, construction, and furnishing of office spaces. In this blog post, we will explore why sustainability is important in fit-out finance and how businesses can adopt a green approach to finance their fit-out projects.

  1. Why Sustainability is Important in Fit-Out Finance

Fit-out projects, like any other construction project, have a significant impact on the environment. The materials used in a fit-out project, the energy consumed during construction, and the resulting waste must be carefully considered. Sustainable fit-out finance aims to reduce this impact by promoting environmentally responsible design, construction, and material choices.

Sustainability also benefits businesses in the long run. A sustainable fit-out can result in reduced energy consumption, lower operational costs, and increased employee satisfaction. Green buildings also have a higher resale value and attract more tenants. A sustainable fit-out is not only an investment in the environment but also in the profitability and success of your business.

  1. How to Adopt a Sustainable Approach to Fit-Out Finance

The first step towards adopting a sustainable approach to fit-out finance is to establish clear sustainability goals for your project. These goals should be in line with your business’s sustainability policy and corporate social responsibility initiatives. Next, choose a finance provider who values sustainability and has experience in green financing solutions.

When planning your fit-out project, incorporate sustainable design principles such as daylighting, efficient HVAC systems, and water-saving devices. Choose materials that are durable, recycled, and eco-friendly. During construction, implement waste management practices to minimize the environmental impact of the project.

  1. Benefits of Sustainable Fit-Out Finance

Sustainable fit-out finance offers several benefits beyond reducing your environmental footprint. It can result in a healthier and more productive work environment for your employees, thereby improving your business’s bottom line. Sustainable fit-outs also enjoy incentives such as tax breaks, reduced insurance premiums, and expedited permits and approvals.

Moreover, sustainable fit-outs can help attract and retain eco-conscious employees and customers. Sustainable practices are becoming increasingly important to employees, particularly millennials and Generation Z, who prioritize working for environmentally responsible companies. Sustainable fit-outs can also attract sustainable-minded customers who prefer eco-friendly businesses.

Conclusion

Sustainability is the future of business, and adopting a green approach to fit-out finance is an essential step towards a sustainable business model. Sustainable fit-out finance reduces environmental impact, lowers operational costs, increases profitability, improves employee productivity and satisfaction, and attracts eco-conscious employees and customers. Businesses can adopt a green approach to fit-out finance by establishing sustainability goals, choosing a sustainable finance provider, using sustainable design principles, selecting eco-friendly materials, and obtaining sustainability certifications. By adopting a sustainable approach to fit-out finance, businesses can demonstrate their commitment to environmental stewardship while reaping the benefits of a green building. Contact us to find out more.

Tips for Small Business Owners

Fit-Out Financing 101: Tips for Small Business Owners

/0 Comments/in , /by

Opening a small business takes time, hard work, and a lot of financing. A significant portion of that financing has to go towards fitting out your business premises. From construction to interior designing, there’s a lot that you need to spend on. But don’t let this stress you out. With several financing options available, you can handle all the costs seamlessly. This blog post will provide every small business owner with tips on how to finance fit-outs.

Tips for small business owners

  1. Create a Budget: Before you start preparing for your fit-out, you need to create a budget. Sit down and plan out what needs to be done, the furniture you need, etc. Once you have an idea of the amount required, consider your financing options. It’s better to have a ballpark figure of what your fit-out will cost to apply for the right loan.
  2. Get Quotes: Now that you know what you need, it helps to shop around and compare quotes from different contractors. This way, you have a better idea of the expected cost of the entire project. With these figures, you can plan out your financing properly.
  3. Research Financing Alternatives: There are several financing options to choose from such as business loans, credit cards, equipment financing, and lease financing. With so many options, research and compare the interest rates, terms, and conditions to know which option best suits your business. You can also reach out to your bank and other financial institutions to know what they’re offering.
  4. Apply for Financing: With the above steps taken care of, it’s time to apply for funding. Here are some tips to help make the application process seamless. Provide all the necessary information, only opt for the financial aid amount that your budget allows, and maintain a healthy credit score.
  5. Negotiate Terms: Once you get financing offers, analyse each offer, and try to negotiate favourable terms for your business. An extended repayment period, low-interest rates, and prepayment flexibility will go a long way in helping your business.

Conclusion

Financing your fit-out is a critical aspect of your business; it helps you achieve your business goals by providing a comfortable work environment. With multiple financing options available, go ahead and create a budget, shop around for quotes, research, apply, and finally negotiate your financing terms. With this guide, you can make this process smooth and efficient. Contact us for more information on tips for small business owners.

The ABCs of Fit-Out Finance

The ABCs of Fit-Out Finance: What You Need to Know

/0 Comments/in , /by

Are you planning to renovate your business space or move to a new one? The process of fitting out a commercial property can be costly, and you may need to seek finance to fund the project. Fit-out finance is designed to provide you with the necessary funds to carry out a fit-out project that meets your business needs and objectives. This blog post will introduce you to the ABCs of fit-out finance and what you need to know before seeking funding.

A- Assessment of Your Business Needs

Before seeking fit-out finance, it is important to assess your business needs and objectives. You need to determine the type of fit-out work that needs to be done, the duration of the project and the costs involved. Having a clear understanding of your needs will help you determine the type of loan that best suits your business.

B- Budget and Timeline

The cost of fit-out projects varies and is dependent on several factors such as the type of property, the scope of the work, and the duration of the project. You need to determine your budget so that you can choose the right loan amount that you can comfortably repay. In addition, you need to come up with a realistic timeline that will help you complete the fit-out project within the set timeframe.

C – Choose the Right Lender

Several lenders offer fit-out finance, and you need to choose the one that best suits your business needs. You need to research extensively and compare different lenders, loan types, interest rates and other terms of the loan. You also need to check the lender’s reputation by reading reviews and testimonials from other business owners who have used their services.

D- Document the Process

Once you have identified a lender and secured funding, it is crucial to document the process. Keep a record of all the correspondence, the terms of the loan, and the repayment schedule. This will help you track and monitor the progress of the fit-out project and the loan repayments.

Conclusion

In conclusion, fit-out finance is an ideal solution for business owners who want to improve their commercial space to meet the needs of their business. Before seeking funding, you need to assess your business needs, determine your budget and timeline, choose the right lender, document the process of acquiring the loan, and evaluate the benefits of fit-out finance. With the right lender and a solid plan in place, you can transform your commercial property into an efficient and attractive space that enhances your business growth and productivity. Contact us to find out more.

Leveraging Finance for a Modern Workplace

Tech-Driven Fit-Outs: Leveraging Finance for a Modern Workplace

/0 Comments/in , /by

In today’s world, businesses need to have a modern and innovative workplace environment to stay ahead of the game. The traditional office set-up is no longer the norm as advances in technology continue to revolutionize the way we work. As a business owner, you have to keep your workplace up-to-date to maintain the high levels of productivity and motivation amongst your employees. Here’s where tech-driven fit-outs come in, and there’s no doubt that they can transform your workspace. Read on to find out more on leveraging finance for a modern workplace.

Leveraging Finance for a Modern Workplace

Implementing tech-driven fit-outs in your workplace doesn’t necessarily mean splurging on costly gadgets and equipment. Instead, it refers to introducing technology that enhances productivity, collaboration, and communication among your employees and clients. The first step towards achieving this is to assess your business needs carefully. For instance, if you run a business that involves extensive client meetings, implementing smart screens for presentations or video conferencing equipment would be an excellent investment.

Another critical factor to consider is your employees’ working style since their job roles and workflows should dictate the technology you implement. Incorporating automated systems such as intelligent lighting, climate control, and AI in your workplace not only enhances productivity but also reduces energy consumption and utility costs.

Gone are the days when employees work 9-5, sitting behind a desk for hours. Nowadays, employees prefer a workspace that offers flexibility and mobility. By investing in technology such as collaborative software, laptops, and cloud storage, you can ensure that your employees can work from anywhere, and at any time, all the while keeping track of their progress remotely.

One key advantage of tech-driven fit-outs is the increased connectivity it offers. Whether it’s through social media channels, chatbots, or video communication platforms, businesses can now communicate with customers from all over the world with ease. Implementing robust tech-driven fit-outs to your workplace transforms it into a modern and professional environment, which has a positive impact on your business’s overall brand image.

Conclusion

In conclusion, it’s safe to say that modernizing workplaces is crucial for businesses to stay competitive. By implementing tech-driven fit-outs, you can significantly enhance your workspace, improving employee productivity and motivation. Tech advancements offer numerous benefits to businesses, from reduced utility costs to improved customer relations. If you’re looking to take your business to the next level, then a tech-driven fit-out may be the next investment you need to make happen. Start planning to improve your workspace today! Contact us to find out more.

Fit-Out Finance for Restaurants

Fit-Out Finance for Restaurants: Balancing Ambience and Budget

/0 Comments/in , /by

Running a successful restaurant requires a balance of many different factors, including an inviting atmosphere, high-quality food and excellent customer service. However, achieving the perfect ambiance can often be expensive, and many restaurant owners struggle to balance the costs of fit-out with their budget. In this blog, we explore some of the ways restaurant owners can finance their fit-out without breaking the bank.

1. Consider Leasing Your Fit-Out

Leasing is a popular financing option for many commercial kitchens and restaurants. This type of financing allows you to spread the cost of your fit-out over time, making it more manageable from a cash flow perspective. Moreover, leasing can help you preserve your existing lines of credit, which can be critical for day-to-day operations. It is important to note that leasing agreements can vary significantly, ranging from finance lease options to operating lease options. Hence it’s crucial that you speak to a financial advisor before settling in.

2. Partnering with Suppliers

Suppliers can often provide you with a significant percentage discount on the products you need to build your restaurant. This is because they benefit from the certainty of future business if they can nurture a long-term relationship with restaurateurs. This relationship can help you save money on your fit-out, even if you decide to buy products rather than lease them.

3. Prioritise essential needs

It’s important to prioritise the essentials when you’re financing your restaurant fit-out project. Basic items, such as ovens, fridges, and furniture, are critical to your restaurant’s overall success and should be prioritised. As much as you may want to fit into the latest trend and high-end items, it may not be possible in the long run. The essential needs should form the base of your fit-out budget, and if possible, you may include some luxury items in the future, provided there’s a growing demand.

4. Be open to creativity

Finally, you can save money if you are open to creativity in your fit-out project. Many restaurateurs have found that they can achieve the ambiance they desire through DIY projects. Repurposing existing furnishings and décor or turning to thrift stores can greatly impact your bottom line. Interior design companies and architects can also help you create a cozy atmosphere within your budget.

Conclusion

While fit-outs can be costly for restaurants, there are several methods that you can use to finance them effectively. By partnering with suppliers, prioritizing essential needs, seeking alternative financing, and being open to creativity in your projects, you can balance ambiance with budget. We hope that through this blog post, you will be able to make informed decisions about financing your restaurant fit-out successfully. Contact us to find out more.

The Future of Fit-Out Finance

The Future of Fit-Out Finance: Trends to Watch in 2024 and Beyond

/0 Comments/in , , /by

With increasing demand for modern office spaces and the need to adapt to changing work environments, businesses are looking for innovative ways to finance their fit-out projects. In this blog, we’ll discuss some of the latest trends to watch in fit-out finance. Also how they’ll impact businesses in 2024 and beyond.

1. Virtual and augmented reality to revolutionise fit-out planning

Virtual and augmented reality technology has come a long way in recent times. The impact can be seen in a wide range of industries. In the world of fit-out finance, the use of virtual and augmented reality can provide businesses with an immersive experience of what their new office space will look like even before construction begins. This will give them a better understanding of the layout and help with visualisation. This makes it easier to make informed decisions. Virtual and augmented reality can thus help businesses save time and money. This is because they can get a better idea of what the finished space will look like in real-time.

2. Sustainability and environmental impact

Sustainability has become a buzzword in the business world, and it’s not just a passing trend. Businesses are now more conscious of their environmental impact and are making efforts to reduce their carbon footprint. This trend has trickled down to the fit-out finance industry. More businesses are now opting for sustainable solutions when fitting out their office spaces. Such as using recycled or eco-friendly materials. Fit-out finance companies have responded by offering financing solutions that cater to the sustainability and environmental requirements of businesses. In 2024 and beyond, it is expected that sustainability will be a top priority for businesses.

3. The rise of automation

Automation has impacted almost every aspect of the business world, and fit-out finance is no exception. Automation has made it possible for businesses to get funding faster and with fewer hassles. Automated underwriting processes have made it faster and easier for businesses to get approved for finance, reducing the time taken to apply for and receive funds. In the future, the use of artificial intelligence and machine learning is expected to become even more prevalent, making the financing process even more streamlined.

Conclusion

The future of fit-out finance is exciting, and businesses need to keep up with the trends to stay ahead of the competition. The use of virtual and augmented reality, increased financing options, sustainability, automation, and industry consolidation are some of the major trends to watch in 2024 and beyond. For more information please contact us.

The Financial Implications of Office Fit-Outs

Renovate vs. Relocate: The Financial Implications of Office Fit-Outs

/0 Comments/in , , /by

As a business owner, you are constantly faced with making strategic business decisions, including those pertaining to your office space. One of these decisions is whether to renovate your current office space or relocate to a new one. Both options have their advantages and disadvantages, but one of the most significant factors is the financial implications of office fit-outs. In this blog post, we will explore the pros and cons of each option and the financial implications of office fit-outs.

Renovate Your Office Space

Renovating your office space allows you to retain your location, which is advantageous if you have an established customer base and want to avoid any potential negative effects on your business operations. However, renovating your office space involves a lot of planning, designing, construction, and disruption to your business, which can be costly in both short-term and long-term perspectives. For example, if you want to create a more collaborative workspace, you may need to remove walls, install new electrical wiring, redesign lighting, buy new furniture, and upgrade your technology. These costs can add up and may require several months or even years to recoup.

Relocate Your Business

Relocating your business can be a critical and financially challenging decision. It may be necessary if you need more space or want to be closer to your target market, suppliers, or employees. Moreover, relocating to a more modern and efficient office can enhance your brand image, productivity, and employee retention. However, relocation can be costly in several ways. You may have to pay for real estate fees, moving expenses, lease negotiations, and facility modifications. Relocating might also result in employee turnover and downtime, which can indirectly impact your revenue stream.

The cost of an office fit-out

An office fit-out involves the design and installation of your office interior features, such as partitioning, flooring, lighting, furniture, and technology. The cost of an office fit-out varies depending on several factors, such as the size and complexity of your office space, the quality of materials, and the level of customization. It is essential to note that the cost of an office fit-out is not a one-time payment; it usually includes recurring expenses, such as maintenance, repairs, and replacements.

Conclusion

In conclusion, the financial implication of office fit-outs varies, depending on the business objectives, the budget, and the chosen option. In most cases, renovating your office space is cheaper than relocating, but it involves more significant risks, such as business disruption and uncertain returns on investment. Relocating might be more expensive in the short-term, but it can result in long-term gains, such as improved productivity and profitability. If you would like more information on the financial implications of office fit-outs then please get in touch.

CONTACT US

PARTNER PORTAL

advance, fit out finance footer

CORPORATE INFORMATION

logo
© 2023 WestWon Limited T/A Fit Out Finance
Fit Out Finance is a trading name of WestWon Limited. We deal with a range of lenders. Fit Out Finance hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Contact page.
The website uses Cookies to give you the best, most relevant experience. Continued use of this site means you have accepted our policy.