![How to plan and track the budget of your surveying firm [template]](http://onlineyougrow.com/cdn/shop/articles/cov-budget-9_9aef3d26-fbe1-4c21-ae01-bde23d326c6a.png?v=1715856487&width=1100)
If you don’t plan and track your surveying project budget properly, you're setting yourself up for failure.
When we developed our strategy pack for surveying firms, we saw a lot of surveyors struggling with finances and project planning.
They were disorganized, had no grasp of cash flow, and were drowning in financial troubles despite having substantial contracts.
Don’t let this be you—stand out and succeed.
We’ve created a small, free tool to help you get started: our Budget Tracker and Planner. Let’s turn your surveying firm's finances around and set you on the path to success!
Get the budget tracker tailored for surveying firms
Most surveying firm owners don't know how to plan and track their budget. This spreadsheet will help you.
Example of a full budget for surveying firms
Here is an example of a (very) detailed budget for a surveying firm, to give you some inspiration
1. Rent and Utilities
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Rent | Lease for office space | $3,000 | $36,000 |
| Electricity | Power consumption for office equipment | $400 | $4,800 |
| Water | Water usage | $100 | $1,200 |
| Internet & Phone | Internet service and business phone | $200 | $2,400 |
| Waste Removal | Garbage and recycling services | $50 | $600 |
| Insurance | Property and liability insurance | $300 | $3,600 |
2. Salaries & Wages
| Position | Number of Employees | Monthly Cost per Employee | Total Monthly Cost | Annual Cost |
|---|---|---|---|---|
| Senior Surveyor | 1 | $5,000 | $5,000 | $60,000 |
| Junior Surveyor | 2 | $3,000 | $6,000 | $72,000 |
| Field Technicians | 3 | $2,500 | $7,500 | $90,000 |
| Office Manager | 1 | $3,500 | $3,500 | $42,000 |
| Administrative Assistant | 1 | $2,500 | $2,500 | $30,000 |
3. Equipment & Supplies
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Surveying Equipment | Total stations, GPS units, etc. | $2,000 | $24,000 |
| Office Supplies | Stationery, printer ink, etc. | $300 | $3,600 |
| Software Licenses | CAD software, GIS software, etc. | $500 | $6,000 |
| Field Supplies | Markers, stakes, measuring tapes, etc. | $200 | $2,400 |
| Vehicle Maintenance | Maintenance for company vehicles | $400 | $4,800 |
4. Marketing & Advertising
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Online Advertising | Google Ads, LinkedIn Ads, etc. | $300 | $3,600 |
| Social Media Management | Managing social media accounts | $400 | $4,800 |
| Print Advertising | Brochures, flyers, trade publications | $200 | $2,400 |
| Website Maintenance | Hosting, domain, updates | $100 | $1,200 |
| Email Marketing | Email campaigns and newsletters | $150 | $1,800 |
| Networking Events | Industry conferences and events | $200 | $2,400 |
5. Miscellaneous Expenses
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Equipment Maintenance | Regular maintenance of surveying equipment | $300 | $3,600 |
| Uniforms | Field staff uniforms and safety gear | $150 | $1,800 |
| Licenses & Permits | Professional licenses and permits | $100 | $1,200 |
| Contingency Fund | Emergency repairs and unexpected costs | $500 | $6,000 |
| Staff Training | Training programs and materials | $200 | $2,400 |
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We have studied the strategies of the best surveying firms in the world. Replicate them now!
What are the biggest expenses for a surveying firm?
Be mindful of these critical expenses. Here are five major costs every surveying firm needs to consider, along with some tips on how to manage them effectively.
- Equipment and technology costsThese can take up a significant portion of your budget. Surveying equipment like total stations, GPS units, and drones are essential but can be costly. Prices can vary based on technological advancements and brand quality. To keep these costs in check, focus on purchasing only what you need, consider leasing options, and maintain your equipment regularly to extend its lifespan. Avoid overspending on the latest gadgets unless they offer substantial value to your operations.
- Staffing and trainingYour team is your greatest asset, but salaries, benefits, and ongoing training can be expensive. This cost remains high because you need skilled professionals to deliver accurate and reliable results. Optimize labor costs by hiring versatile staff, investing in cross-training, and monitoring productivity. However, be cautious not to underpay or overwork your employees, as this can lead to high turnover and decreased morale.
- Office rent and utilitiesPrime office locations can come with high rent, but they can also enhance your firm's visibility and accessibility. Utilities like electricity, internet, and water are necessary but can add up quickly. To optimize these costs, negotiate favorable lease terms and invest in energy-efficient office equipment and lighting. Overspending often occurs when you choose a location that's larger or more luxurious than your firm requires.
- Marketing and client acquisitionGetting the word out about your surveying firm is crucial, but marketing can be expensive, whether through online ads, social media campaigns, or traditional media. Optimize this expense by focusing on cost-effective methods like the ones we recommend. Overspending can happen if you invest in elaborate campaigns without a clear strategy or measurable return on investment.
- Software and maintenance costsThis includes everything from CAD software to project management tools. These are essential for efficient operations and delivering high-quality results. Optimize by investing in reliable, user-friendly software and keeping it updated to avoid compatibility issues. You can overspend by opting for high-end software with features you don't need or by neglecting regular maintenance, leading to costly disruptions.
How to spend less with your surveying firm?
Here are practical tips to help you, as a surveying firm owner, optimize your budget and manage expenses more effectively.
| Expense | Tips to Optimize |
|---|---|
| Equipment Costs | Partner with reputable suppliers for bulk purchases and consider leasing high-cost equipment. |
| Labor Costs | Implement project management software to optimize staff allocation and reduce overtime. |
| Utilities | Install energy-efficient lighting and equipment in your office and field vehicles. |
| Marketing | Run social media campaigns for your surveying firm and collaborate with local real estate agents for mutual referrals. |
| Office Supplies | Train staff on efficient use of office supplies to reduce waste and go paperless where possible. |
| Equipment Maintenance | Set up a maintenance log for regular equipment checks and servicing to extend the lifespan of your tools. |
| Rent/Mortgage | Negotiate lease terms during renewal or consider moving to a less expensive office location. |
| Insurance | Regularly review insurance policies to ensure they meet current needs and compare rates annually. |
| Software | Use cost-effective, multi-functional surveying software and take advantage of free trials before committing. |
| Field Supplies | Purchase high-quality, durable field supplies that can withstand frequent use and harsh conditions. |
| Data Management | Choose a data management system that offers essential features with low subscription fees and integrates with other systems. |
| Staff Training | Conduct regular in-house training sessions and use free online resources to keep your team updated on the latest techniques. |
| Waste Management | Implement a waste tracking system to minimize waste and recycle materials where possible. |
| Technology | Invest in multi-functional surveying equipment and utilize project management software for efficient workflow. |
| Transportation | Plan field routes to maximize efficiency and reduce fuel costs, and consider using fuel-efficient vehicles. |
| Licensing and Permits | Stay up-to-date with local regulations to avoid fines and costly renewals. |
| Inventory Management | Use inventory management software to track equipment and supplies, reducing the risk of loss or theft. |
| Pest Control | Schedule regular pest control services for your office and maintain cleanliness standards to prevent infestations. |
| Client Entertainment | Use a streaming service for background music in the office and host client meetings during off-peak times to reduce costs. |
| Uniforms | Choose durable, easy-to-clean uniforms and offer staff a stipend for maintenance instead of using an external service. |
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Expenses that are just useless for a surveying firm
Yes, some expenses for your surveying firm are just unnecessary. They don't contribute to increasing revenue or improving client satisfaction.
| Surveying Firm Expense | Reason It's Useless |
|---|---|
| Luxury Office Space | High-end office spaces don't necessarily attract more clients and can be a drain on the budget. |
| Premium Software Subscriptions | Unless you need advanced features, most tasks can be accomplished with mid-range software options. |
| Excessive Equipment | Having more equipment than necessary increases maintenance costs and leads to underutilization. |
| High-End Surveying Instruments | Top-of-the-line instruments are not always necessary and can be cost-prohibitive. |
| Traditional Advertising | Traditional paper ads often have a lower return on investment. Don’t include them in the marketing strategy of your surveying firm. |
| Multiple Uniform Styles | Having various uniform styles increases costs without adding significant value to the client experience. |
| Excessive Staff | Overstaffing leads to higher labor costs without necessarily improving service quality. |
| Premium Office Supplies | Expensive office supplies often go unnoticed by clients and add unnecessary costs. |
| Exclusive Software Features | Using software with rare features can inflate costs and complicate workflows. |
| Costly Office Furniture | High-end furniture is not always appreciated by clients and can be a significant expense. |
| Custom Printed Stationery | Personalized stationery is a minor detail that most clients overlook, and it can be expensive. |
| Unnecessary Software Licenses | Paying for software with features you don’t use is a waste of resources. |
| Premium Water Brands | Most clients are content with filtered tap water, making expensive bottled water unnecessary. |
| Extra Company Vehicles | Maintaining a larger fleet than needed increases operational costs. |
| Excessive Membership Fees | Paying for multiple industry memberships often yields little benefit. |
| Overly Frequent Office Renovations | Constantly updating decor and layout can be costly and disrupt operations. |
| Expensive Office Decorations | Elaborate decorations are often ignored by clients and add to the cost. |
| High-End Office Supplies | Luxury office supplies are prone to damage and expensive to replace, often going unnoticed by clients. |
| Excessive Staff Meetings | Too many meetings can reduce productivity and increase labor costs. |
| Expensive Marketing Materials | Frequently redesigning marketing materials is costly and often unnecessary. |
| Unused Promotional Materials | Ordering more promotional items than needed leads to waste and unnecessary expense.Get our marketing budget planner template. |
| Paid Directory Listings | Many free listing options are available, making paid listings often redundant. |
| High-End Field Equipment | Specialized field equipment is often unnecessary and adds to costs without a proportional benefit. |
Stop working with a tight budget for your surveying firm!
Managing a budget for a surveying firm when funds are tight can feel like an uphill battle. It's like navigating through a maze where any unexpected expense can throw you off course.
This constant pressure makes it nearly impossible to invest in growth projects, leaving you always chasing after expenses. It's a life filled with stress and sleepless nights.
Yes, you can continue down this path, scraping together resources and barely making ends meet. But there's another part of the equation you might be overlooking. Instead of just trying to cut costs, you can focus on growing your revenue. More income means more breathing room and more money to invest in your firm's future.
And no, you don't necessarily have to spend money to grow. There are plenty of zero-cost initiatives and strategies that can help you increase your revenue by 10%, 20%, or more. We've detailed all of these strategies in our guides, after studying dozens of surveying firms just like yours. Get them now!
Make your surveying firm more profitable
We have studied the strategies of the best surveying firms in the world. All their tactics are explained in our pack!
