A lot of business owners shrink away from the idea of remodeling because it can be a hefty investment–not to mention the losses when the store will have to be closed for construction. However, a store remodel becomes a necessity more than a luxury at some point, and it’s not a good idea to wait until that happens.
If you notice these signs in your place of business, then it might be time to call a commercial building contractor.
1. Your store looks old
When your store is visibly old, it is evident to anyone who walks in. Dingy walls, cracked floors, and permanent stains on the edges of your windows–there’s a fine line between charmingly old and old-old, and you should know if it’s the latter.
If the store looks old, there’s a high chance that it will also look dirty. After all, there is only so much scrubbing you can do to make a 20-year old counter look new. If this the case for your retail store, then a remodel is a worthwhile investment.
2. Your store is outdated
Maybe your store doesn’t look ‘old,’ but perhaps it seems outdated. The walls could be spotless, but the style can be a decade too old. Or the furniture could be new, but they aren’t exactly what’s in right now.
Unfortunately, not every business owner will know right away if their store looks outdated. So, you might want to take hints from other stores, magazines, and blogs on the latest interior design. Better yet–have a designer come in to take a look.
3. Your signage is outdated
Unless your store is all about vintage or antique goods, an outdated sign can drive away potential sales. Your store’s sign plays heavily on a customer’s first impression of your business, and if it’s a few years too old, they might judge your store negatively before they even walk in (if they walk in at all).
4. Your sales are stagnant
If the business is going as usual, but there isn’t any real improvement in sales, your store’s condition can be the culprit. Don’t wait for stagnant sales to become declining sales. In this occurrence, investing in a retail makeover can bring those sales back up for years to come.
5. Your competitors are updating
Does the store across the street have a new look? Is there a hot new store that just popped up down the block? When your competitors are upgrading, it’s a clear sign that you should do the same, lest you want to be left behind. Remember that the retail industry is continuously changing, and you can’t expect your store to perform as well as it should when you don’t embrace change.
6. Your store is a myriad of different designs
Over the years, you might have made a lot of changes in your store that clashed instead of complemented with each other. For example, you might have painted your walls a particular color five years ago but installed new shelves that do not go well with them at all. If your store looks like a collage of various designs, a remodel can create one central theme to bring back cohesion.
Benefits of renovating your retail store
Energy efficiency
A store remodel also provides the opportunity to reduce energy costs by allowing you to install double pane windows, upgrade to a programmable thermostat, and replace energy-hogging lights, among many other strategies.
Attract more customers
Passersby are more likely to walk into a store that looks new and attractive. When your newly renovated store makes a good impression, they can be successfully converted to paying customers.
Improve employee mood and performance
A newer and fresher work environment can boost employees’ morale and motivate them to become more efficient. Moreover, a renovation can help increase the functionality of your store, allowing employees to do their work easier.
Keep up with competitors
Competitors won’t outshine you if your store is looking as modern and chic as theirs–if not more so.
More modern look
If you want to attract the younger crowd, making your store more modern can pique their interest.
Increased sales
Combining the increased number of customers, better employee performance, and more efficient store layout makes up for increased sales, which makes a store renovation a good long-term investment.
As you can see, revamping your store can yield many benefits, making a renovation definitely worth the investment. If you’re not sure how to go about it, contact a reputable commercial building contractor in your area to come and take a look.
