CFS Contributes Our Furniture Knowledge to Eze Castle Integration’s Hedge IT Blog
There are many layers to creating a successful launch of a hedge fund, and often one that is overlooked is implementing the right furniture, while keeping in mind budget, timeline and dimensional restraints for your new office space. For someone starting a fund, and relying on your own capital, creating an office space within a budget is essential. In order to do so, you must partner with a furniture dealership that understands the marketplace and has the creativity to provide a solution that is light on the wallet but has the feel of stability and success.
As you would expect, just like many other businesses, the commercial furniture industry is a very competitive, relationship-driven sale, and unfortunately the client is usually on the raw end of the stick. Let’s give an example:
Hedge fund A has six traders, and in their mind “we need a trading desk.” But the fund’s users only have one PC and two monitors each, which equates to a minimal technology requirement. The fact is that a full-blown trading desk can range from $2,000 to $5,000 (for height adjustable product) per user.
Here is what the fund manager needs to know. There are other options that will adequately handle your technology, save you up to 60-70% and give you the look and feel of a trading desk solution. Savings of $10,000 just by having the proper relationship and information.
Hedge fund B has six traders, and they are looking for a new trading desk. The fund’s users have two or three PCs and three to six monitors each. Based on the amount of technology required, a trading desk does seem like the right fit and would run on average between $20,000 and $24,000. Having a relationship with a furniture vendor that stocks used trading desks may just save hedge fund B 100%. This is another example of making sure a vendor’s vision is aligned with the fund.
The world of technology platforms is ever-changing. Therefore, knowing the technology is the key to understanding the furniture requirements to any successful hedge fund build out. As a result, hedge funds should look for a furniture partner that has the ability to identify each client’s specific needs and provide them with the right product for their furniture application. As a specialist in the industry, CFS Group knows hedge funds need a “go to” to embrace change as it unfolds. A typical build-out provides practical solutions that elevate the aesthetics and performance of each hedge fund’s facilities.
The secondary key is having the right dealership to align each hedge fund with the manufacturers based on their budget. Besides looking at the technology and aesthetic requirements, understanding the budget is just as critical. Our job as a dealership is to remove that stress of purchasing furniture by creating furniture plan layouts and managing projects from start to finish.
About the Author
Jeff Brechman is the Director of Sales at the CFS Group. Prior to CFS Jeff was a Principal and Sales Director of one of the leading trading desk manufactures in the country. With over 15 years of industry experience, Jeff is helping to build the business as well as taking the financial furniture arm of CFS to new heights.