30 Jun Important Things To Consider While Renovating Your Retail Store
A retailer always wishes to modify his/her space at some point of time, even if they have planned their store layout from the very first day. It may include adding an extra dressing room or expand a section by removing a wall and making the space look bigger. But before you decide on going ahead with your store renovations with consultation of any joinery company in Dubai, there are certain things that you need to consider.
First very step is identifying the reason for renovation. Would you gain anything out of it and if your expectations are realistic or not. If these changes can really help in enhancing your natural work flow. What commercials are involved and how you can finance it. Does your renovation make you more competitive?
Understand your reason to undergo renovation. Most retailers plan their renovation to give their stores a fresh look and enhance the utility of their spaces. Some retailers plan it to update their brand and add new merchandise to their stores. Some make structural changes to accommodate more customers for busy shopping hours. Some simply change old fixtures, tired flooring. Reasons may be many, but it’s important to undertake advance planning with a written plan and timeline to ensure your budget and deadline is in place.
If you have something specific about the look and feel of your store, you need to make sure you consult a professional for execution. You may need an architect, lighting expert, joinery companies for retail, brand consultant etc. Ensure that what you plan and what is executed is the same for achieving your renovation goals. Planning stage is the one where you will get many questions in mind. Ask questions to professionals you have hire, resolve issues and you are good to go for execution.
Financing your renovation is the first thought to come to your mind, after getting the idea for renovation. What your idea is and what cost it involves, may lead to you giving up your idea in the first place. Plan your budget well in advance. Renovation involves a good amount of finance. Display, interiors, rebranding, furniture etc. is a heavy due. Have yourself covered before your start executing your retail store renovation. If you don’t have enough funding for your renovation by yourself, you can always talk to a bank. Eventually the reason for this renovation is to increase your sales and thus your return on investment.
Your business will surely get affected in the process of renovation. You need to weight the returns to get after investing on renovation along with the amount you are spending on your renovations. If you are adding a specific product, then adding a display unit for the same will surely give you good returns. You’ll have to consider a timeline for your store renovation as you may lose business for the days you are under renovation. You can pick up an off season period to avoid loss of business. If your planning is on point, then undergoing renovation will surely benefit. Follow the process and you will surely stand out from your competitors!