Why a New Business Fitout? Commonly Asked Questions Answered
Business owners often question whether taking the step towards a new fitout or renovation will be worth it.
Here’s some commonly asked questions we hear and some experienced solutions to match:
Do I really need a new fitout or renovation?
Ask yourself if this renovation is going to enhance your business presence in the marketplace and moreover, your business branding.
It most probably will.
Consider also if it’s going to improve customer relationships and interaction by reorganising spaces, making traffic flow more efficient and adding in up to date aesthetics.
Ask yourself if it’s going to make sense financially, and emotionally to you as principal and to your staff.
How will a new fitout or renovation benefit my business?
If you’re a property owner, one big benefit can be adding to the value of that property.
It’s important to realise that you’re making an investment in your space when you set out on a fitout/refurbishment project.
Improving that space can mean big gains.
Updating plumbing, electrics, flooring, ceilings, entrances, shopfronts and so on will go a long way towards adding dollar values to the square metre space.
But I don’t own the property, I’m a tenant, so what’s in it for me?
Even if you’re a tenant you can value-add.
If your new fitout or renovation means the business is now looking smart, relevant to the current market and successful, then it can definitely add value.
What if I want to sell?
An entirely new fitout or renovation can be of great value when selling your space, or your business.
Buyers might be attracted by the convenience of having the infrastructure already in place.
Though they might want to put their own stamp on the space, the “bones” are already in place.
New buyers might be looking for certain features – energy savings, for instance.
Keep in mind energy efficient technologies like solar power, energy efficient lighting and appliances are all very attractive to buyers. Include them when planning.
Taking the step might seem challenging but it’s worth it!