Commercial buildings such as offices, banks, factories, and hotels need occasional remodeling just like your home or apartment. A commercial building renovation is an effective way to remain competitive in the market.
It is also less expensive than moving to a new location, especially when your business is in a desirable area. However, like home remodeling, a commercial building renovation is costly.
It can also inconvenience normal business operations, so most business operators and commercial building owners ignore or delay the remodeling project for as long as possible. Read on for nine reasons why it is time to remodel your commercial building.
1. Improve energy efficiency
If you have recently noticed a significant spike in your commercial building’s energy bills, you should consider investing in a remodeling project to cut costs. A commercial building renovation can involve installing an energy-efficient air conditioning system, swapping incandescent or fluorescent bulbs with LEDs, adding solar panels, and improving building insulation.
You can also install low-flow plumbing, invest in new windows, and install smart thermostats. While these updates can have a high initial cost, you will likely realize significant money savings in the long run, thanks to reduced energy consumption and bills.
The energy-efficient updates also create the impression you value green initiatives, which can help appeal to a broader client base.
2. Attract more customers
Producing high-quality products and offering exceptional customer service is not enough. You also need an inviting and contemporary office space to appeal to new clients.
When potential customers shop at a specific commercial center, they are more likely to purchase multiple products and services. And they will do some preliminary research to see what other brands, your competition, have to offer.
Suppose the prospects notice anything about a commercial building that turns them off, including old stains, faded paint, old decoration, or drooping wallpaper, to mention a few.
It creates the impression that you do not care about putting your best foot forward or are not keen on detail. This triggers the potential client to exit the premises without making a purchase.
By remodeling your commercial building, you pique potential clients’ interest. Your premises’ eloquent, modern, and updated design will improve traffic flow to your business. It may also encourage existing customers to refer your business to their families, friends, and acquaintances.
3. Enhance efficiency
As your company grows, so will its workflow and needs. You will almost certainly find that you require more storage space than you did a few years ago. Your employees can be also cramped in a small space and require additional space.
Modernizing your commercial building can enhance efficiency, provide sufficient space for your employees to complete tasks quickly, and help clients shop easily. Renovations also allow you to unclamp your office space and maximize staff interaction.
4. Increase property value
Remodeling your commercial building can significantly increase the value of your property. This is especially important if you are considering selling the building. A remodel can help you negotiate a better offer.
The increased property value can also help you charge a higher rental amount should you lease your facility to other businesses. Be sure to consult a reputable and experienced renovation contractor for a commercial remodeling guide to changes and updates that enables you to increase your property’s value.
5. Keep decor up-to-date
Be sure to swap outdated interior design with up-to-date decor, especially when your business needs to appear modern or you specialize in fashion consulting. If you own a commercial space such as a bank or private office, you should remove neon lights, old color palettes, and brown plaid to make your premise appealing and modern.
Updating your premises’ interior does not only reduce the risk of your clients choosing to do business elsewhere. By giving your clients and employees an attractive space to look at, you show that you care about them, which improves customer and staff morale.
6. Reduce staff turnover
When potential clients look at your business premises, you solely have to be concerned about making an excellent first impression. However, your employees are stuck in the office for a couple of hours weekly, so they have to live with the office’s decor.
If it is cramped, outdated, and unappealing, it compromises staff morale, resulting in reduced productivity. Some of your employees may also quit and look for employment elsewhere.
This could result in spending thousands of dollars recruiting and training new hires to fill the gap. For this reason, you should consider updating your work area.
An updated commercial space improves staff morale and ensures better workflow and lighting, which boosts productivity. This enables you to gain and retain staff because the working environment is modern, comfortable, and tailored to your employee’s current and future needs.
7. Express your business’ values and culture
A commercial building remodel lets you physically express your company’s ethos and philosophy. What’s your company’s character? Is it tidy and ordered, free and open, democratic and serene?
An office update enables you to incorporate these aspects into your company. A renovation also helps you create interaction and collaboration spaces, enabling you to show staff that you value them.
This builds mutual friendship and trust within the organization, boosting productivity and engagement, which allows the company to achieve its bottom line.
8. Improve organization and functionality
One of the top reasons to consider renovating your commercial building or office is to eliminate disorganization or inefficient use of the available space. Disorganization compromises how your business functions and can result in lost information, misplaced documents, and increased stress due to clutter.
A renovation can enable you to get organized, remove clutter, and repossess control of your commercial space.
9. Improve safety
If your commercial building is more than four decades old and you have never invested in a renovation project, the chances are it does not meet current safety standards. Consider a commercial building remodel to ensure your customer and employee safety and prevent workplace accidents.
A commercial building remodel is expensive and time-consuming, but it is worth it. It can help increase your property’s value, improve energy efficiency and organization, reduce employee turnover, attract more customers, and keep decor up-to-date.
Contact commercial building construction and remodeling contractors near you for office renovations to enjoy the above benefits.