Improvements to Consider for a High ROI When Renovating Your Commercial Space
Updated: Sep 21, 2022
Business owners remodel their commercial spaces for several reasons. What’s certain, however, is that they do so with return on investment in mind. While renovating a commercial can be costly, we’ve put together some top improvements you should consider to maximize your ROI. Here they are:
Older buildings often lack modern safety features, especially if they haven’t been renovated in a long time.
Although installing up-to-date safety features may be a strain on your budget, you’ll be able to save money in the long run.
A safer workplace means fewer accidents and reduced workers’ compensation claims. Employees will also be more productive as they’ll realize that Investing in safety features is an investment in their safety.
In addition, building a safety culture is a plus for your company’s reputation and will only increase the bottom line.
Are the paints peeling or carpeting fading? Maybe the fixtures are noticeably outdated? All of these can give prospective customers a negative perception of your business. Age-long customers may also be less than impressed.
To be successful, you have to look the part. Thus, it’s smart to swap old, dated fixtures and appliances for modern ones. Give your space a fresh coat of paint, install new flooring, and so on.
Remember to follow your brand style guide when making these changes. Not only will you attract new clients, but you’ll also be reinforcing your brand image and message.
Making upgrades that improve employee productivity ultimately yields more profit for the company.
For instance, poor lighting is known to cause employees to strain their eyes unnecessarily. It also triggers the desire to sleep and causes drowsiness. Better lighting enables employees to see better, preventing eye strain and avoidable errors.
Another way to enhance productivity is by constructing wider walkways and hallways to aid faster movements from one section to another. You can also ensure workplace comfort by upgrading the HVAC system.
Today, more and more companies are going green, not just to reduce their carbon footprint but also to save costs.
Energy-efficient HVAC units and other systems use less energy than outdated models, resulting in significant savings in the long run.
You can also install energy-efficient windows that prevent heat loss in winter and heat gain in summer. As a result, your HVAC unit won’t have to work hard to make the space comfortable.
Commercial renovations can be expensive, but these improvements can ensure you get a high return on investment. To get the most out of your commercial renovation project, talk to the team at Luxury Commercial Contractors today!