Planning Your Commercial Refurbishment
When taking on a major refurbishment of your premises, there are lots of things you’ll need to consider. Renovation on any scale will have some impact and this might seem like the cheapest or most logical option, taking the step to relocate can often provide benefits too, so should almost certainly be considered before you start planning your commercial refurbishment project.
This article looks into some of the main reasons you might be considering a refurbishment, and it also outlines the benefits of refurbishment versus benefits to be had from relocating entirely, helping you to make a more informed choice.
Reasons You Might Consider Refurbishing
- To compliment a re-brand
- Change the layout or flow of your space
- To update your fixtures and fittings with a refit
- Your business has grown, and you need more office space
- You want bigger premises to facilitate future growth
Once you press ahead with your decision to refurbish all or part of your building, you’ll need to start planning what you’ll do with your stock, and how (if at all) you can operate your business while refurbishment works are ongoing.
“Structural refurbishment can reveal hidden costs, always allow
for a 10% contingency when costing your refurbishment project.”
A refurbishment might be as simple as removing existing fixtures and fittings to deep clean, decorate and change a few shop displays or desks around. It could be as complex as entirely structurally modifying your space in which case this presents additional complications and is best done in stages, so part of your premises remains usable while the refurbishment is carried out.
When extensive groundworks are involved, however, staying open and running your business, as usual, may not be an option, in which can you may want to consider a brief closure or operating from a temporary base.
“Before you press on with your refurbishment
consider your options carefully.”
While you might have decided that a refurbishment is your preferred option, it’s worth considering relocation and not wholly ruling this out. People often assume that relocation will be the most expensive option, but this isn’t always the case. Upping sticks and physically moving your location does present you with numerous challenges, and it will be disruptive, but the benefits could outweigh the inconvenience.
Benefits of Commercial Refurbishment
Changing the layout of your premises can significantly improve operational efficiency.
Improve the working environment
Sprucing up the workplace can have a very positive effect on the morale of employees which in itself can lead to high productivity.
A cosmetic refurbishment means you get to make the most of what you’ve already got, meaning your costs are limited to just decoration, fixtures and fittings.
Attract new customers
Perhaps you’ve re-branded or felt it’s only just time to step up your game; refurbishing your premises can do wonders for your image. Both employees and customers will benefit from an improved working or shopping environment and upgrading your premises is an excellent way of helping you to expand your reach to potential new customers or clients.
Tax relief could be available
With regards to funding your refurbishment, depending on the extent of your plans and individual circumstances, you may be able to claim capital allowances for your project. You can find out more from HMRC. http://www.hmrc.gov.uk/capital-allowances/buildings.htm
Benefits Of Relocation
Purpose built commercial units
You might get lucky and find the exact space for your needs. The right size premises, a great location and a layout that will help you increase efficiency or give you more floor or office space. This means you can pretty much move straight in with the minimum of disruption.
A better location
For many businesses a new position with better footfall or that is otherwise more accessible can be a massive benefit
Cheaper rent or overheads
Many rents in town centres have reduced as commercial property agents struggle to find tenants. You might discover substantially decreased leases, subsidised bills that mean lower costs. Also, find locations with government-backed grants providing cheaper rent or other incentives.
You can find out more about business grants and support at the business finance and support finder. https://www.gov.uk/business-finance-support-finder
If you do decide to relocate completely, you’ll need to consider the loss of business at your existing location. It’s essential that you factor this into your decision and that you put appropriate marketing plans in place to ensure your customers are informed of the move. For more information, see the article marketing your business move.
Crate Hire UK – Planning Your Commercial Refurbishment