Recession Fears or an Economic Downturn? You can still make your business right!
Even when the economy is taking a hit, your business may still have purchasing needs. So how can you meet your furnishing needs while also navigating a less-than-ideal economy?
A recession can be a challenging time for businesses, and it’s important to be mindful of expenses. While furnishing your office may not be at the top of your list, it’s important to create a comfortable and functional workspace for your employees. In this post, we’ll share some tips on how to furnish your office during a recession without breaking the bank.
Budget, Plan, and Budget Some More
Because the economy is not is the best shape, doesn’t mean you aren’t working. Furniture needs still arise, even when you would maybe like to not be spending additional money. Statistics show that depending on the area, companies will see elevated hiring needs, even during a recession. To meet these needs, determining your business’s economic capacity given the market should always be considered. Examine your furniture needs and how much you can realistically spend to meet those needs.
Lucky for you, recessions and bear markets offer some of the best manufacturer discounts on your furniture needs. Work with an office furniture retailer that can help you budget anywhere from low to high end products (or anywhere in between) within your budget, that still meet your quality expectation. Office furniture doesn’t need to break the bank if you’re working with the right dealer.
Consider Pre-Owned Furniture
Used office furniture is a good option for cutting back on costs while also setting up your space with beautiful and functional furniture. Historically, used furniture options are more readily available during a recession. Though quantity and accessibility cannot be guaranteed, ask your local dealer if they have availability. Small furniture businesses are a good option for finding good pre-owned options that cannot be found through larger retailers. Some of the biggest furniture names name Herman Miller and Steelcase are available for a fraction of the designer cost.
Avoid Common Furnishing Mistakes
There are several common furniture purchasing mistakes that will cost you time, energy, and money. Consider the ways in which you can get the most productivity and commitment (i.e. money and savings) from both yourself and your employees through your furniture choices. Ensure that you select a chair that is both budget and back friendly. Think about the ways your office ergonomics contribute to employee wellness, production, and company culture. Create a space that allows for quality, productive collaboration, without breaking the bank. Work with the perfect furniture dealer to ensure that you are planning your space and timing appropriately.
Read Common Mistake to Avoid When Furnishing Your Office to help you plan, and avoid making mistakes that can cost you big!
Think about Functionality and Aesthetics
When furnishing your office, it’s important to think about functionality. Look for pieces that serve multiple purposes, like a desk with built-in storage or a conference table that can double as a workstation. While functionality is important, it’s also important to create a visually appealing workspace. Consider investing in a few statement pieces, like a stylish desk or chair, to make your office feel more inviting and professional. Likewise, your Lobby, Reception, or Waiting area can be important focal points for future or current customers and employees alike. Small pieces can make a big difference.
Working with a furniture retailer that caters to small businesses, those most likely to be impacted by a recession, will help you to get the most out of your purchase. Large or chain furniture retailers will charge more for small orders, and in some cases, they will overprice products to make up for their shortage of sells during a recession. The right retailers will have a better grasp of reality and what is feasible, areas that you can cut back on, areas of focus and how to cut costs while ensuring quality, to help you stretch your money during an economic downturn.
Furnishing your office during a recession doesn’t have to be expensive or stressful. By shopping around, budgeting and planning, considering used or refurbished furniture, focusing on functionality, investing in quality, and adding a few aesthetic touches with functionality, you can create a comfortable and functional workspace for your employees without breaking the bank.