By Steve Juzefyk
There is nothing worse than walking into a business that is in ill repair. Even though the products may be useful and enticing, the general appeal may prevent customers from walking through the door. Commercial renovation can be beneficial in many ways to a business and a business owner. Commercial renovation can decrease spending by sealing cracks and insulating to prevent extra heating and/or air conditioning costs. Commercial renovation can greatly appreciate the value of a business, thus creating more equity if and when it may be necessary to apply for a loan or to sell the business. Commercial renovation attracts more customers, as a clean and refurbished establishment represents success.
1) Prioritize-Decide on which area needs to be renovated the most. There may be several areas that need repair, but some projects may take precedence over others. Keep in mind if that the outside of a business is the first thing a customer will see. It may be a good idea to start with projects such as stairways, exterior resurfacing or walkways before heading inside for the other jobs.
2) Create a budget-A budget for commercial renovation doesn’t have to include everything, but it should include the factors that will either save the most money and the ones that may potentially create a safety hazard. Interior renovation may include waterproofing or insulation, which both can be beneficial when it comes to saving money. Safety is of utmost importance. This may include concrete repair, resurfacing or reconstruction of walls and/or ceilings.
3) Follow a checklist-Complete commercial renovation doesn’t have to all be done at once, but having a checklist of all the necessary repairs will make it easier to track and estimate in the long run. The total may not be as bad as initially planned. Acquire estimates and continue to make the necessary commercial renovations with the priority on both cost and safety.
4) Consider expansion-A successful business may need more space for whatever purpose it may be. Some businesses need more room for storage or stock, while others may need it for product display or dining space. Commercial renovation can include expansion or add-ons, balconies, loading docks and pathways. Choosing the necessary expansion depends on the needs of the business.
5) Eco-friendly options-One of the trends in today’s commercial renovations is ‘going green.’ Not only does eco-friendly commercial renovation save money, but it also may offer longer term rewards with the environment. Examples of eco-friendly commercial renovations are climate control product installation, energy efficient lighting fixtures, thermal doors and windows and plumbing. Basically, ‘going green’ means saving energy, and any commercial renovation that saves energy will ultimately save money.
Most commercial renovation is done in phases. This can be for reasons of a project’s time or it may be related to the means of how the budget is allocated. Many businesses may need to finance the commercial renovation with a rehab or construction loan, whereby the money is allotted through each phase of development of the commercial renovation. Commercial renovation is a way for a business owner to keep an eye on the future. Not only will the finished work create a safer, more efficient environment, but it will also create value for the business as a whole.
About the Author: Juzefyk Bros. Construction has been providing superior quality masonry work for over sixty years. Now in its third generation, Juzefyk Brothers continues to offer a wide variety of interior and exterior construction, renovation, restoration, and design.