Return on investment. An important consideration in everything you do, and especially when you are considering a renovation project to your commercial property, is the all-important ROI. You want to do everything you can to make your property as attractive as possible, projecting just the right business image to your clients and business neighbors, as well as maintaining its resale value for the future.
Here are some renovation projects to consider that bring with them a high ROI:
Safety. Older buildings will often lack modern safety features, and installing these can decrease the risk of accidents and lead to fewer workers compensation claims. Over time, renovations that upgrade your safety features will help save you money and lost time. Building a safety culture with those in your workforce is going to be a huge asset with a return on your investment that can last for the life of your business.
Cosmetic. Old flooring, paint, and outdated fixtures will have a negative effect on your customers. Updating these cosmetic features will cause your commercial enterprise to look successful and attract new customers. If you are going through the rebranding process, this is a good time to renovate according to your new image and message.
Productivity. A remodel can actually increase employee productivity, which is a relatively strong return on your investment over time. Simplifying processes and improving space efficiency will positively influence your costs, as well. The following projects will be a help here:
- Better lighting. This enables workers to work more quickly with fewer errors.
- Widening walkways. Hallways and walkways that are wider cause fewer accidents and allow for faster movement.
- HVAC improvement. Keeping your workforce comfortable helps them to concentrate and stay productive.
Green. Implementing environmentally friendly and energy-efficient systems in your renovation will lead to significant savings in energy usage. It will also attract customers, especially those who make it a point to support eco-friendly businesses. Some common features that businesses install during renovation include:
- HVAC. Energy-efficient air conditioning and heating keep your commercial property comfortable year round.
- Low flow plumbing. These fixtures help save water.
- Window upgrades. Replacing old windows with energy-efficient models will prevent energy loss.
- Cool roof. Installing a cool roof will keep your building cool even during the hottest times of the year. These roofs reflect sunlight, reducing interior temperatures.
Commercial renovation projects help businesses save money and can even attract more customers, and a business that is going through the rebranding process can benefit greatly since a remodel can realign the look of the enterprise with the new brand. If you are considering a commercial renovation project and want to talk about return on investment, call Ascension General Contractors today and schedule a consultation.