The ROI Of A Commercial Remodel
When it comes to your commercial remodel, there are a lot of factors to consider to ensure you get a good return on investment (ROI). Remodeling your business can make a huge positive impact on your ability to attract and retain employees, gain customers, and increase sales. So, how much should you invest in making that happen?
The remodeling process begins with a detailed assessment of how your current space is functioning (or not). What changes need to be made? To help you get a handle on your commercial renovation budget, we wrote some guidelines here. Once you have identified your needs and set your budget, you can begin to gather quotes from contractors.
To ensure you get the maximum ROI from your commercial remodel, prioritize the projects considering these features that have been proven to increase value of a property and a business:
- Safety Features – Reduces accidents and resulting downtime
- Cosmetic Improvements – Attracts employees and customers
- Employee Productivity – Changes in design and layout can make a huge impact
- Green Design – Take advantage of tax credits and support the environment
Maximizing Your Return
Fortunately, there are some sure bets when it comes to making your commercial remodel worthwhile. Generally, projects that impact several areas of your business are going to see the best return. Cosmetic upgrades like flooring and lighting function to increase the aesthetic appeal of your space- which in turn attracts employees and customers.
Improvements in electrical and HVAC yield a more comfortable work environment. Smart green design choices like low flow plumbing and window upgrades cut down on monthly costs and your carbon footprint. Plus, natural light improves productivity.
Commercial remodels benefit greatly from improvements in the areas listed above, specifically because cosmetic upgrades and green design have been shown to increase employee productivity. Prioritizing your budget with this in mind, you’ll be able to get a lot more bang for your buck in the long run. When you’re ready to take the plunge on your commercial remodel, give us a call. We are happy to discuss your project and help you prioritize within your budget.
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