If you’re thinking about renovating your place of business, you’re probably excited about the prospect of having a brand-new space that better reflects your company’s image. However, it’s important to be aware of the potential challenges that come along with any renovation project, so that you can be prepared to deal with them if and when they arise. In this blog post, we’ll discuss three of the most common challenges faced during business renovations.
1. Dealing with the Disruption to Your Business
One of the biggest challenges you’ll face during a business renovation is the disruption to your daily operations. Even if you plan to have the work done during off-hours, there will inevitably be some noise and commotion that interferes with your employees’ ability to focus, especially if it’s an extensive renovation. In addition, construction crews will need access to different parts of the building at different times, which can make it difficult for employees to move around and do their jobs effectively.
To minimize the disruption to your business, it’s important to have a clear and concise plan for how the renovation will proceed. Work with your contractor to develop a schedule that minimizes the amount of time construction crews are working in the building during regular business hours. In addition, make sure your employees are aware of the renovation schedule and plan accordingly. For example, if certain areas of the building will be off-limits at certain times, let your employees know in advance so that they can plan their workdays accordingly.
Sometimes, you will have to relocate your business if your planned renovations are extensive enough to last for several days or a couple of weeks. You will also have to move temporarily if the renovation will take over most of the space or if staying in it might endanger your employees. In those cases, it is better to look for a different workspace that matches your business’ needs. For corporate offices, you can rent a co-working space with a short-term lease. This is usually the best for businesses that are related to tech since co-working spaces usually have all the basics for businesses that are mostly digitalized. On the other hand, if you are renovating a small business that requires a storefront, you might have to rent another empty space for a short term. You will need to prepare it to entertain customers and keep both employees and visitors safe. This includes getting wiring and plumbing checked and fixed. You will also need to check ventilation; if the space does not have adequate ventilation, your best option is to rent a commercial air conditioning unit and other temporary HVAC equipment.
2. Managing the Cost of the Renovation
Renovations can get extremely expensive, but your spending depends on what you want contractors to do. They can cost as little as $5 to more than $200 per square foot — if you plan to do a full renovation of a 200-square-foot office, that’s at least $40,000. Apart from that base budget, you have to add a buffer to compensate for unforeseen expenses to pop up during a renovation. This is why managing the cost of the project is such a huge challenge. For example, you may find that some of the existing features in your space are not up to code and need to be replaced or repaired before construction can begin. Or, you may decide mid-renovation that you want to make some changes to the original plans, which can add to the overall cost of the project.
To avoid overspending on your renovation, it’s important to stay involved in the project and closely monitor its progress. Make sure you understand all aspects of the work that is being done and why it is necessary. If there are any changes made to the scope of work, make sure you understand how those changes will impact your budget. You will also need some bookkeeping help to ensure that every expense is monitored closely and documented. And finally, don’t be afraid to negotiate with your contractor if you feel like you’re being charged too much for a particular item or service.
3. Ensuring That Your Renovation Meets Your Expectations
Once your renovation is complete, it’s important to make sure that it meets all of your expectations. This includes everything from making sure that all required permits were obtained prior to beginning construction (which can save you from having to redo work later on) to ensuring that all finishes and fixtures meet your standards for quality and durability. If possible, do a walk-through of the space with your contractor before they consider the job complete so that you can point out any areas that need attention or adjustments. You can also have your employees tour it and get feedback from them; having more eyes can help you find issues you glossed over. By taking these steps, you can help ensure that your renovated space is everything you hoped it would be—and more!
Final Thoughts
If you’re planning on renovating your place of business, there are several potential challenges you’ll need to prepare for—including disruptions to your daily operations, managing costs associated with the renovation, and ensuring that your expectations are met once construction is complete. By being aware of these challenges and taking steps to mitigate them beforehand, however, you can help ensure that your business renovation goes off without a hitch!
