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Business Plan for New Branch

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Starting A Branch/Office

  • Determine the Budget
    • Identify how much budget can be allocated to start your office with consideration of
      • Cost of rental or purchase of office space
      • Cost of necessary equipment
      • Cost of office furniture
      • Cost of office supplies
  • Identify if it is necessary to start a dedicated business premisesor home office
    • Running your office at home can save you a lot of money. But there are several questions you need to answer before you make this decision. 
      • Adequate space in your house?
      • Living alone or with others?
      • Aconduciveworking environment?
      • Will local zoning ordinance permit your type of business in the area?
      • Conducive environment for visitors and customers be visit?
      • Hire additional employees?
      • Special technical or equipment needs?
  • Decision to Purchase or Lease Your Office Space

 

Leasing

Purchasing

Advantages

  • Smaller up-front cash outlay
  • Short lead-time to take possession and move in
  • Monthly/annual expenditures are known in advance
  • Can negotiate maintenance and repair functions
  • Expansion and modifications could be negotiated and financed by the landlord
  • If more (or less) space is needed, you can walk away from the office space at the end of the lease term and relocate to more suitable facilities
  • May be able to sub-lease excess space to other tenants
  • Can increase in value and build equity for the company
  • Expansion and modifications to the building are only limited by zoning ordinances and your budget
  • Excess space can be leased to other businesses to generate income

 

Disadvantages

  • Never builds up equity
  • Expansion and modifications can be limited by the landlord
  • Too long of a lease period can lock you into an office that no longer serves your purpose
  • Excess space sits empty while you pay the monthly rent for it
  • Large up-front cash outlay
  • Longer lead-time to move in due to real estate closing procedures
  • Responsible for all maintenance and repairs
  • If cash is an issue, a quick sale of the property may not be possible
  • Acquiring necessary office furniture
    • Typical office furniture
      • General Desk & Chairs
      • Computer Furniture
      • Filing Cabinets
      • Storage Cabinets and Display Shelves
      • Reception area Furniture
      • Furniture for Meeting & Conference Rooms
      • Pantry Room Furniture
  • Acquiring necessary office equipment
    • Typical office equipment
      • Telephones
      • Computers
      • Printers
      • Internet Networks and Servers
      • Lighting
      • Operational Equipment
  • Essential Office Supplies
    • Typical Office supplies
      • Ball point pens
      • Color pens
      • Highlighters
      • markers
      • pencils
      • Paper
      • Paper Clips, Staplers and Tape
      • File Folder
      • Scissors
      • White Out (correction tape)
      • Staplers
      • Rubber bands
      • Calendars and planners
      • Postage stamps

 

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