A commercial renovation is a huge and costly undertaking which means it is well-worth taking some time and effort to plan it as carefully as possible.
While nobody likes disruptions, experts have some advice on how to make it as painless as possible for you, your team and your customers.
Remember your why
You should be very clear about the reasons for the renovation before you start. This would include why you want to renovate and also include prioritising your reasons and planning accordingly. If you want some inspirations have a look at these beautiful and useful commercial spaces.
First, ask yourself the hard questions. These are some of the questions they suggest asking: What is the objective of renovating the building or interior space? Why do it now? What’s the win for the client? What’s the client’s pain point? Who will occupy the space? How will they use it? How will value ultimately be accessed? How can capital investment be minimized and property value maximized? What are the physical and economic barriers to success?
These are critical success factors that will determine the eventual success of the project.
Consider the people
It is vital to take into account who will be using the renovated building. They explain that that the aim of a commercial renovation will be to create a work environment where employees can be as productive or customers as happy as possible and environmental wellness should be considered when designing the new space.
It is also important to consider those who will occupy the building during renovation. It is useful to come up with a communication plan with the tenants or whoever is occupying the property. This helps to manage expectations by making sure everyone is aware of the work schedule.
Think of the future
It is vital to think of the future when planning a commercial renovation. After all, a commercial space must meet the needs of your company. As company needs may change over time, so too your space may need to adapt with them. Look at you business’ five year plan and consider what renovations need to be done to match it. This includes planning for space and storage if your business is growing.
It may be prudent to consider what would happen to the neighbourhood in future and take a look at value-perceived amenities but also develop an exit plan for the building and consider options for adaptive reuse.
Seek help from professionals
You should be aware that renovating a commercial space is expensive and difficult and explains that it would be best to employ professionals to do the job. Having a good-quality, professional contractor is the best way to make sure things goes smoothly. An experienced contractor will be able to anticipate problems and suggest solutions.
A professional team will be able to maximise the good qualities of an existing building structure, which features should be saved and which should be demolished to serve you the best. Professionals can also make sure that your site is safe at all times as they would have received training like this smsts online course.
Create a budget and schedule
Proper planning is essential for those undertaking a commercial renovation. The schedule and budget should be carefully crafted and an extra 10% should be added for possible contingencies.
You should also be prepared that renovations are likely to take longer than expected. With this in mind, it is a good idea to make a schedule which minimises interruptions to the day to day running of your business (or your tenant’s business). Also be sure to be realistic with your time frames. Keep in mind that it is ok not to do everything at once but plan the renovation in phases to provide better cash flow and financing.
Use the opportunity
While a renovation is underway it is also a good time to upgrade lighting and windows and create the most energy efficient space possible. If you are looking to replace or update mechanical units, system controls or lobby lighting, this is a good opportunity to install the most energy efficient options and seek an Energy star rating. This rating indicates that the building’s energy consumption is below the standard for buildings of its type and size. After all, it makes good business sense to make buildings as sustainable as possible.
Accept that all might not work according to plan
Even with the most careful planning things might take longer than expected and you should be prepared to adjust your timeline and budget accordingly. Therefore, it would be wise to have a contingency budget. As a general rule, you should budget for the amount your contractor estimated plus an additional 10%. Unexpected expenses often come up in the construction process, so it is important to be prepared. If not, you risk having to put the project on hold when it is half completed, which is far from ideal.