How to realise the value of office assets as part of workplace change
Budgeting for workplace change is always a balancing act which requires detailed planning, careful research and varying degrees of negotiation and concession. Replacing office furniture as part of a workplace change programme can push budgets over their limits or require compromises on quality and fit that are hard to stomach. If you have already invested in good quality furniture, this doesn’t need to be the case. There’s a number of ways to realise the value of your existing office assets to reduce your furniture expenditure and make your budgets go further.
Know the value of your existing office assets
To understand the alternatives available to you, you need to have a clear picture of the value of your existing office furniture. We recommend you carry out an extensive furniture audit identifying what assets you have in your estate and the condition of these items of furniture.
Where resources permit and expertise is available, this can be carried out in-house. Alternatively, employ an expert who understands the potential for these valuable assets – from what can be cost-effectively repaired to the true resale value of individual items. You will then be in a position to make an informed decision about how to realise the value.
Do you really need new furniture?
Your refurbishment or change project may reflect a different way of working or a new, updated look and feel but that doesn’t necessarily mean you need new furniture. Remanufacturing, repair and refurbishment not only enables you to realise the value of your existing assets but also delivers significant environmental savings. And these days, it doesn’t mean compromising on quality and finish.
Most office desktops can be remanufactured using the existing desk framework to reduce the footprint of workstations. Alternatively, to reconfigure desks to create an agile working environment, new tops can be remanufactured and used on existing desk frameworks.
Office chairs, reception seating and break-out furniture from all major manufacturers can all be repaired and reupholstered. What’s more, this can be in the colour and style of your choice. Chair bases, metal components and non-fabric chairs can be re-sprayed.
Acoustic screen and notice boards can be refurbished with a change of colour or size to match your new office desks and meet your changing requirements. Cabinets, shelving and other specialist furniture can also be remanufactured. The opportunities are limitless!
If you are expanding, it’s possible to supplement existing stock. Again, this doesn’t need to mean more administration for you. Large retailers of used office furniture will have access to a wide range of brands and styles and should be able to meet your requirements.
Make money from your unwanted furniture
Your workplace change may see you consolidating or for whatever reason, remanufacturing and refurbishment may not be right for you or your project. You can still realise the value of unwanted assets whilst prolonging their life, benefiting others and protecting the environment – by selling good quality branded furniture.
Obtain the maximum return by employing the services of a reputable re-seller. If you choose a company which also has remanufacturing and repair capabilities, they will be able to ensure you can make the most of these assets, regardless of their condition.
If you have specialist items, ensure that the company you choose is able to arrange auction for these high-value assets.
Benefit others and reduce the cost of disposal
If there’s no resale value for your unwanted furniture, it is still possible to reduce the cost of disposing of these assets, making more of your budget available for replacing them. Your unwanted furniture and IT equipment could benefit charities, schools or social enterprises through donation. Again, this doesn’t have to result in greater administration for you. Businesses with well-established donation initiatives can make it easy for you to benefit those in need and save on disposal costs.
What are you waiting for?
By forward planning and choosing the right partner, you can realise the value of your office assets as part of your workplace change without creating additional administration. Not only will this make your budgets go further but it will also enable you to contribute to your company’s sustainability targets.
How Crown Workspace can help
We make it easy for our clients to realise the value of their existing furniture through our comprehensive, sustainable furniture, IT and electrical equipment services including:
- Audit, storage and stock control
- Office furniture remanufacturing, refurbishment and repair at our award-winning Renew Centre
- Furniture, IT and electrical equipment resale through our retail channels, Office Resale and IT Resale
- Furniture, IT and electrical equipment donation through the Giving Back Project
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The spread of the coronavirus poses unknown challenges for us all. At Crown Workspace, our priority is to protect the health of our employees, customers, suppliers and partners.
Amid the current coronavirus situation, employers are being encouraged to let employees work from home to help limit the spread of the virus. To help people better understand how to set up a workspace at home, we’ve put together the following tips:
There is really no excuse to throw away old desks, furniture and IT equipment in the race to modernise businesses that are refurbishing or moving offices.