ASK THE EXPERT: Steve Meeks senior vice president, Paric Corp.
All businesses — and particularly retailers — thinking of conserving costs by shrinking space should consider at least three factors to assure the maximum long-term value from their immediate investment.
First, immediate is the key word. We would never recommend rushing into any project. But in a buyer’s market, with raw material costs down and plenty of good contractors with lighter-than-usual workloads, the time is right to get a great value — both in terms of materials and expertise in an interiors or specialty project of any size.
Second, consider green elements or retrofitting options, especially if you’re already in the middle of a construction project. Even if you’re reducing space, everyone should be considering energy-efficient and environmentally friendly elements that will reduce operating expenses in the long run. Incorporating energy-efficient elements may also create an opportunity to tap green initiative financing opportunities for which your project might otherwise not qualify 500 fast cash payday loan.
Third, when choosing a contractor, be sure to keep in mind — and to ask specific questions about — the special requirements of shrinking a retail space, particularly if you plan to remain open during the renovation. Choose an established contractor with experience in working off-hours or multiple shifts. Select a team skilled in navigating the logistics of working in congested locations and in meeting multiple tight deadlines while still smiling at both you and your customers.
Done properly, shrinking space doesn’t have to mean major interruptions in customer service or costly surprises for your business. The key is careful, knowledgeable planning. The sooner you get a qualified contractor on board the sooner you’ll benefit.
Filed under: news by Wolf