Maintaining your commercial building is important. Part of maintaining the building may include renovating it. Renovating your commercial building can help to keep its appearance modern and up-to-date, draw in new clients, and ensure that your building has a functional flow to it. Unfortunately, many commercial building owners are unsure of when they should renovate their commercial space. Here are a few of the factors you should consider when determining the right time to renovate.
Whether Business is Slow or Fast
One of the key factors you should consider when renovating your business is the time period in which your renovation would take place. Is slow or fast for your business? For example, most malls are not going to think about renovating during the extremely busy holiday season. It will create more congestion in the crowded mall for smaller renovations, and shutting down the mall completely for a large renovation will create a huge loss in income. Try to time your renovation around a period that is traditionally slow for your business or industry.
If Immediate Repairs Are Needed
Another factor to consider when determining whether it is the right time to renovate is if immediate repairs are needed. If you have been thinking about renovating, and something pops up that requires extensive repairs, it may make sense to renovate at the time the repairs are made. For example, if you need to have your plumbing repaired, the dry wall has to be removed. It may make sense to knock down walls and reconfigure your layout at the same time. If possible, try to combine repairs and renovations. Most people hire a general contractor for that very reason. That way, they can ensure projects have extensive time management supervision to help save time and costs down the road.
How Much Money You Have Saved Up
As you decide the right time to renovate your commercial building, keep in mind how much money you have allocated for the project. Renovating a commercial building can be costly. You want to ensure that you incorporate all of the elements that you want in the renovation, and not have to cut out important elements because you are running low on money. Save money beforehand, or apply to get financing before the renovation process begins.
Whether the Building Currently Meets Your Business Needs
Ask yourself whether your building currently meets your business needs or if it could be better met if you completed a renovation. If your building is not meeting your needs, you may be losing efficiency or productivity. Renovating as quickly as possible may help to increase production and efficiency, both of which can help your business to grow or thrive. However, if your building is currently meeting your needs, you may be able to hold off on a renovation for a bit longer.
If You Have Somewhere Else to Place Employees
You should renovate when you have an additional location to place your employees. In some cities, finding commercial space to lease can be challenging. It may take weeks or even months to find the right space to rent. If your building is undergoing renovations, you may need to find a rental building for your employees to work in for a few months while the project is being completed. Never schedule a renovation until you are sure that you have secured a place for your business to continue.
Need Help with Your Renovation?
Are you thinking about renovating your commercial building? MH Williams Construction Group, located in Melbourne, Florida, can help with any of your commercial construction needs. If you are looking for industrial construction, commercial construction, office building construction, hotel builders, hospital construction, retail buildings, shopping center contractors, automotive builders, or medical office construction, we want to help you. Contact us today and let’s come up with a renovation plan that fits your needs and meets your budget.