Take our 5-question quiz to learn if you should consider office furniture banking and / or product exchange.
Thinking of renovating your office space? Before you make an investment in new office furniture, be sure you’ve made the most of your old office furniture. How? By taking advantage of office furniture banking and product exchange programs offered by many local and national office furniture remanufacturers.
Office furniture banking and product exchange programs allow business owners and office managers to maximize the value of their existing furniture assets by applying that value toward current or future office space needs.
Put your old or unused office furniture to work.
Banking and exchange programs can help your company significantly reduce the cost of refreshing or redesigning your workspace by earning real value for your existing assets.
It works like this: Your office deposits its unwanted furniture into a remanufacturer’s “furniture bank.” The remanufacturer holds (and ultimately remanufactures) your old furniture for other clients, and you earn and/or use your furniture credit to purchase “like kind” remanufactured product equal to the amount banked or exchanged, for your own office. Reputable remanufacturers ensure that banking and exchange programs qualify for and conform with IRS regulation code Section 1031(a) relating to like-kind exchange.
Are banking and exchange programs right for you?
If budget and maximizing space are big considerations, there’s a good chance these programs are right for your office. But to be sure, ask yourself the following questions.
- Do we have outdated or unused office furniture?
You know those mauve cubicle panels leaning against the wall? Or those unused desks and chairs stacked in the back room? Those are assets that could be working for you, but aren’t. Give them second life by banking them for a future furniture purchase or trade them in for things you need right now.
- Is our unused office furniture taking up valuable office space?
If your obsolete office furniture is driving up lost opportunity costs in terms of wasted office space, you’re also wasting money on square footage. Banking or exchanging your unused furniture frees up floor space for more important, profit-generating functions.
- Are we spending money on warehouse space?
Paying a hefty monthly warehouse bill gets old fast. When you move unused assets out of storage and into a furniture bank, you can say goodbye to monthly storage invoices and hello to like-new, remanufactured pieces you’ll actually use.
- Are we redecorating on a budget?
If you have carte blanche to redecorate your office, congratulations! But more than likely, you have a set budget. You’ll get more for your money by trading in your unwanted assets for remanufactured furniture—at a fraction of the cost of new. Not redecorating quite yet? You can still free up office space by banking now and reaping the rewards when you’re ready.
- Does my company have sustainability goals or environmental initiatives?
When you bank or trade in your unused assets, you’re keeping tons of waste and chemicals out of the landfill. Banking or exchanging your furniture for remanufactured furniture is an environmentally friendly approach to furnishing your space and redeploying unwanted pieces.
You might be surprised at the opportunity and value you have stacked up in storerooms and warehouses. Make it work as hard as you do, and you’ll save your bottom line—and the environment—in the process.
Outfitting your office space doesn’t need to put you in the red. Bank or exchange instead! Give the knowledgeable team at Davies Office a call at (518) 449-2040, or visit www.daviesoffice.com.