The cost of doing business will vary. The standard fares include the cost of keeping the office lights on, the price for running a website, and the advertising budget you’re keen to spend. And depending on what you invest in and how much time you give it, you could see something with a big price tag bringing in a great return!
But before you make any return, you may have to fork out for a bit more than you expected. Some expenses can be left off the budget sheet simply because people don’t remember them or think they can do without them, but this thinking can often lead to financial trouble in the end. So to avoid the trap, let’s go through some niche expenses you should think about right now too.
The Cost of Filing and Storage
Most of what we do is digital these days. We store things on hard drives or in the cloud, make backups regularly, and we often have to pay for more gigabytes to ensure the data banks can stay full and secure. This is already a cost you’ve probably factored in.
However, it’s always a good idea to have ‘hard’ copies of certain paperwork as well, and that means you’ll need some physical storage to your name too. Not only does this mean more office furniture is on the cards, but printer ink, paper, and common stationery items will need to be well kept too.
The Cost of Looking Professional
Being professional isn’t just about the way you act or the way you interact with customers. It’s about the way your company looks to the outside world based on brief first impressions. Anyone who walks past and sees you open and operating? They could be a potential customer in the future; leads in the local area are always highly valuable.
This means, if you’ve got a physical location, you’ll need to keep it looking clean and tidy on the curb side. This can entail needing to look into excavators for hire, as well as bringing in gardeners once a month, or hiring decorators on a regular basis to keep your sign looking fresh. And as far as your expenses sheet goes, investing in your curb appeal might not have even made the list at all.
The Cost of Running Appliances
You’ve got a lot of computers to foot the bill for, depending on the amount of employees you’re working with. However, you also have a break room to factor in as well - this will be filled with items like coffee machines, fridges/microwaves, and places for employees to watch TV and charge phones.
All of these items will impact your electricity bill, and could make it a bit more costly to pay off each month. Think about this ahead of time so you’re not surprised about a big bill!
Budgeting for business expenses is a trial and error process. But most of all, don’t forget about the little things!
