Is now the time to give your retail store a makeover?
In your heart of hearts, you know when it is time. But when times are tough, when every penny counts, retail store managers and construction executives think twice before remodeling a retail store, QSR, hotel, or other chain.
Once that decision is made, you will seek out a commercial construction remodeling contractor. Using your plans or your chain’s planograms and brand standards, that older store can re-open with a completely new look in a matter of weeks or months.
The Budget-Conscious “Refresh”
Remodeling means different things from one retailer to another. The newer term, “refresh,” has gained popularity. It means picking and choosing the best ways to get the most bang for the buck—short of a comprehensive “remodeling” project.
Often, a store or property is not a wholesale disaster by any stretch of the imagination. Instead, maybe you have identified certain opportunities, like your cash wrap, the flow of your aisles, or simply the exterior and its signage. Chances are, you will choose a commercial general contractor having the credentials to navigate permitting, suppliers, skilled trades, and other critical details.
That is what commercial construction companies do every day, year after year. They offer the staff, project management, and track record to turn things around on time and on budget.
Is Now the Time?
Experts say that most any retail business can go as many as 5 to 7 years before remodeling.
Your remodeled store may feature an entirely new floor plan, dramatic lighting, and new fixtures in key traffic areas or restrooms. These make an impact and customers talk to other customers about a nicely finished, more comfortable experience. This increases traffic and sales through curb appeal and community buzz.
Additionally, a new look and feel attracts new faces—including possible new employees and local businesspeople seeking new vendors or options. That new customer’s spouse may become your next assistant manager—or have a better option for laundering your team’s uniforms. You never know.
And it is impossible to put a number on the goodwill you can win by remodeling.
Maybe you are weighing the options. Maybe a corporate department is signaling that something needs to change.
How do you know business will improve by placing your chips on a remodel or refresh?
Why not cut expenses and improve margins rather than risking capital (and reputation) on property improvements?
Large brands have whole departments to help make these decisions using demographics, competitive information, and many other tools. But even the greatest retail analyst can tell you that an entrepreneurial manager can overcome every trend against all odds.
In fact, statistics show that even a small independent retail store owner will increase sales to new customers by about 43 percent in Year 1 of remodeling. Existing patrons will improve by a more modest seven points. Consider these kinds of statistics as you project the costs and benefits of retail remodeling at your location.
Sizing the Project
Successful retail store remodeling calls for a site plan—or at least a semi-formal assessment of how the existing infrastructure and framework might be improved in a cost-effective manner.
For remodels across the United States, The Beam Team has the expertise with teams nationwide. We can help you realize your vision on time and on budget. From globally known big box stores to major franchises, The Beam Team can help.
We provide commercial remodeling services that focus on improving your customer experience and all the details unique to your business. Because of our size and years in business, we can source superior materials at competitive prices—the kinds of finishes that stand up to high traffic.
If you are a project manager or retail executive, please consider The Beam three decades of experience in fixture installation. Explore some of our recent projects at https://thebeamteam.com/projects.