Commercial Renovation to Stay Put
You either really like your building the way that it is, your location is part of your long-term plan, or financially speaking a new building is out of the question. Those are all good reasons to stay where you are. However, I’d like to share with you a few of the best reasons to consider renovating where you are currently.
1) Improve traffic to your business – we have seen it time and again that renovating a commercial space peaks the interest of local people. It also provides additional promotional opportunities because having a renovated space to talk about creates a whole new advertising campaign. Whether you’re a doctor, restaurant or a school, you consistently want to attract new people to your space, right? This is a great way to do it while improving your building investment.
2) Make your current operations more efficient – a company’s business and flow of work obviously changes over time. A renovation or redesign can help improve efficiency and provide the right amount of space for staff to complete their tasks. Whether you need more or repurposed space, a redesign should be well thought out to improve your operations. Through a needs analysis meeting, your architect will be able to determine the spatial needs of your organization.
3) Accommodate the addition of new equipment – you know that piece of equipment that will allow you to do more with less effort? You've been thinking about it for a while. Now is the time to make room for it and improve your bottom line.
4) Incorporate new energy efficient changes to save on costs – the green market is expanding every day and continues to offer products to make your space more energy efficient. An update of your heating/cooling system, electrical system, windows and/or insulation could save you a lot of money on energy costs each year.
5) Take advantage of competitive pricing/low commercial loan rates – should you need a loan to complete your commercial renovation, interest rates are remarkably low at the moment and there is the option of the SBA 504, too. Take advantage while you can. Also, currently, construction competition is high and material prices are a little lower, so it may be a great time to get even more value for your project.
Pretty much, it all boils down to your business being relevant, efficient, and interesting. If you already have all those things going for you, you’re all set. If you need a construction consultant to help you start planning, call Michael Shepard at 989-790-9120.