Renovation projects can be difficult. Whether you’re updating your business space or adding on to an expanding business, renovation projects can be a daunting prospect for yourself, your employees, and your customers or clients. Thankfully, there are some steps you can take to make the process smoother and beneficial to your company. Take a look at some of these helpful tips for renovation projects for small business owners.
Renovation Projects: Tips for Small Business Owners Renovating
As a small business owner, sometimes there will come a time that you will need to renovate your space. It can potentially be great for your business. Here are a few tips that you can use on your next renovation projects.
1) Find the Right Contractors
Whether you need a sheet metal fabrication team for your roof or a drywall team for your interior space, you’ll need contractors that have provided other business owners with proven results.
So as a business owner:
- Do your research by reviewing contractors that have plenty of experience working with commercial clients like you.
- Don’t be afraid to talk to them during the renovation.
Let them know how you want to optimize your business, and you may be surprised how they’ll fulfill your needs. Before you hire a contractor, you’ll need to do something important.
2) Set a Budget for Your Renovation Projects
The first thing you should do is prioritize what changes need to take place as soon as possible.
Different renovation projects can send you in a financial hole as a small business owner…Things like:
- Replacing a leaky roof
- changing off-brand signage
- repairing a wiring system are high-priority projects
This is why a budget is necessary when doing renovation projects. So after you prioritize what you need to take care of, take a good look at your finances to determine just how much you can set aside for your project. Once you’ve done that, you’ll know if you can pay for it yourself. If you can’t, you may need to consider a term loan from the bank.
3) Set a Timeline During Your Renovation Projects
Once you’ve found your contractor, you should discuss how long each project is expected to take. If your project will only take a few days, then close up shop. If it takes longer, discuss having the project done in stages.
- close on weekends
- add extra days off for holiday breaks
- close off certain sections of your space if it’s feasible
These timelines will be rough estimates since weather and unforeseen complications can cause delays.
4) Remodel for Increased Productivity
There are so many reasons to remodel…
- If you’re remodeling an office, you could create individual workspaces for each of your employees.
- You could have a meeting room built or set aside a break room away from your workspace.
- If it’s a shop, you could look at selling more products in the expanded space.
- You could add a separate storage facility, which would allow you to use more of your space for production or sales.
- If you have a restaurant, then you could figure out ways to improve the layout for employees and customers alike.
5) Let Your Employees and Customers Know About Your Renovation Projects
Your employees need to know how your renovation will affect their work routines. Give them at least a week’s notice if possible. This will give them time to have a contingency plan figured out and reduce work disruptions to a minimum.
You should also let your clients and customers know of any possible changes to things such as business hours. This can be used to your advantage if you advertise how these changes will help your customers. If the renovation is big enough, have a special event after completion. This can excite potential new clients, which of course means more sales!
Start Your Renovation Projects on a Good Note
Once you follow these tips, your renovation could go smoother than you thought they could. Not only that, but it can lead to both short-term and long-term improvements to your company’s bottom line. From employees to customers, everyone will be glad about how your business space’s renovation turned out.
Are you ready to start on your next renovation projects? Have these tips been helpful for you?
AUTHOR LaTia Longuemire
My name is LaTia Longuemire. I enjoy writing, singing, and cooking in my spare time. My passion is helping others. At this stage in my lifetime, I'm primarily focused on my children. They are everything that keeps my world spinning.