There are many reasons why you may need to consider a commercial building renovation. As your business grows or evolves, you may need more space and more features and facilities. Business efficiency and productivity are the most important factors affecting your decision to make changes to your building. Find out the different reasons why you are going to have to renovate your commercial space and what things to consider during the process.
Reasons for Renovating
Some of the main reasons why commercial buildings undergo renovations are as follows:
Almost every company’s business flow is going to change over time. Renovation helps in achieving optimal efficiency as these changes take place. You can create the required amount of space for your employees to work efficiently. Your requirement may be to increase or reduce the available space, but a redesign can help in achieving your goals.
Increase in Traffic
Increase in customer traffic can be one reason for renovating the space. There is also a promotional aspect associated with renovation.
- It is often seen that renovation attracts the interests of customers
- It also creates more space for promotion
Thus, renovation can also work as a kind of promotion to draw the attention and interest of your targeted audience.
Increased Energy Efficiency
A renovation project can also mean making a smart, ‘green’ decision. You can have improved energy efficient updates made to your building. It can involve changes to:
- Heating and cooling systems
You can achieve highest cost savings with such updates.
Adding New Equipment
Another reason why businesses may need to renovate their space is to add new equipment. As your business grows, you may want to add new equipment that boosts productivity and efficiency. New technology can speed up processes, improve output quality, and help you save time and money. A building renovation may be required to accommodate such equipment and making relevant changes.
Things to Consider
Now that you realize why it can be important for businesses to renovate their spaces, you should also know the points to consider during a renovation project.
Create a Schedule
It is not just important to create a schedule, you should ensure that it is realistic. You should consider all the factors and issues involved when creating the schedule:
- Consider the date when the new space should be ready
- Allocate the right amount of time for each phase
- Consider likely tenant disruption
- Consider material lead times
Your project schedule should be created in a way that it doesn’t sacrifice quality and doesn't go over the budget.
Review Structural, Plumbing & Electrical Aspects
You will also have to consider the structural, electrical, and plumbing elements when making changes to your building. Consider whether the building can bear your business’ weight. Electrical, plumbing, and gas will especially be a concern when it is a food-based business. These factors will also matter when moving walls or making other structural changes, without regard what niche your business operates in.
A renovation project should always begin with a budget. Consider all the essentials that can be achieved within that budget. Determine the changes that are going to have the most positive impact. You may also want to consider any tax allowances that you may stand to gain for certain changes.
You should also get your building’s envelope checked. This includes the doors, windows, roof, and other components that separate the interior and outside. So make sure to consider all these points when considering a commercial building renovation. Discussing these points with your contractor and architect should help you plan better for your project.