As businesses grow, they must adapt and push new changes. Sometimes those changes include new interior, new building, updated renovations to improve the office/store. `Even though renovation projects can seem a bit overwhelming, a correctly done “facelift” can provide your small business with impactful, long-lasting benefits.
A well-planned renovation can help boost profits, appeal to new customers, increase employee satisfaction, and improve workplace efficiency.
Here are a few important tips to consider when planning to remodel your business:
Create a Budget
Remodeling your business can be a huge investment, so it’s crucial to examine your finances before you contact a contractor or spill the beans to your employees.
The first step in creating a remodeling budget is to analyze your business’s finances to determine the percentage of resources that can be allocated to the overall project.
The next step is to decide what changes need to be made for your business. As you make the list, establish the priority level of each item. How important is a new coffee bar versus fixing outdated electrical issues? Do you need an updated kitchen or new sineage?
Knowing your budget restraints ahead of time will help you determine which renovation projects can be covered. It is also a good idea to “pad” your budget to cover unforeseen expenses and emergencies, like rezoning fees or pipe damage.
Decide Your Timeline
Renovations of any kind are notoriously time-consuming. Discuss the timeline of the remodeling project with your contractor before any work begins to chart out each stage of the process so you know what to expect. You can avoid serious time delays and additional costs by creating a renovation schedule.
A few questions/considerations to remember when creating the schedule include:
- Can you afford to close your business completely during the remodel?
- What is your renovation strategy for your employees and customers?
- What is your plan for delays and problems (i.e. weather issues)?
- Can you complete the entire remodeling project at once or in stages?
Laying out a thorough strategy and being prepared for unexpected issues can help you keep your renovation project on a better schedule and maintain a positive atmosphere in your business.
Keep Everyone in the Loop
As soon as you have a solid strategy for remodeling your business, make your employees aware of changes they can expect to encounter and the approximate time frame of the project.
You should also provide basic updates for your customers/clients, especially if the changes include different business hours and / or location changes. If your company has an online presence, you can provide updates through the business’s website and Facebook page
Plan for Increased Productivity
Use the renovation as an opportunity to be more intentional with your business space. If your company is moving to a larger location, create a floor plan for the new office space that will be more conducive to work productivity and higher sales.
What can you do in conjunction with your remodeling plan that will benefit your employees and increase their creativity and productivity? What can you do to make your daily business operations more efficient?
And One to Grow On
During a remodel, every detail, however seemingly small, should accurately reflect your business’s brand, philosophy, and goals. The point of renovating your business is to improve the physical office or store space for the benefit of your employees and customers. The remodeling project should ultimately help, not detract from your company’s image and core values.