Four Easy Ways Your Business Can Save Money During a Building Renovation
When operating a business, you should always be searching for the best possible return on the investments you make, and commercial renovation projects are no exception. But what’s your plan for saving money during a redesign project? What resources need to be purchased to help drive down the cost of labor? Who should you be seeking help from?
In this blog, we help answer all those questions so you net a bigger gain.
How to Cut Commercial Renovation Costs
Planning a major renovation often leads to sticker shock. Commercial remodeling can leave a massive damper on your bottom line. Fortunately, there are several methods you can use to help drive construction costs down. Here are the secrets:
1. Choose the Right Commercial Contractor
A commercial renovation contractor is there to do all the heavy lifting for your project, but finding the right partner can be a challenge. Be careful not to agree to terms with just any general contractor. This decision might cost you thousands of dollars in work delays, poor execution, and even legal troubles. Always do your homework to find a reputable professional with years of project management experience. And if they help point out savings opportunities, you know they have your best interest at heart.
2. Budget, Budget, Budget
The budget of your project is one of the most valuable tools you can manage. This document helps dictate your spending. Always keep a record of everything you intend to purchase. And it doesn’t have to be in a professional balance sheet format either. A simple spreadsheet should do the trick. Just make sure you’re updating the budget regularly to keep an accurate record of any expenses associated with your project. Finally, make sure you understand the difference between “fixed pricing” and “cost-plus proposals,” as this information can help save you lots of money in the long run.
3. Establish a Detailed Plan
It’s the small details that make all the difference in a successful project. Always come up with a thorough strategy before any construction takes place. The best game plans are those with clearly defined expectations. That’s why it’s crucial for you to create a scheme that checks every box.
Always keep a detailed list organized with all the deliverable information, including project objectives, cost-analysis reports, timelines, and necessary resources. And once you finalize the plan, try to avoid deviating from it, as last-minute changes will likely add to the cost of your renovation.
4. Be Resourceful
The newest products aren’t always the best solutions. Often, you’ll find building features that are still in good shape. Reusing these same resources prevents you from having to spend money on new mechanical equipment, furniture, energy appliances, and other items that add aesthetic appeal. Hold off on any construction until you’ve examined the full condition of your existing HVAC system, flooring, window openings, plumbing, furnishings, and light fixtures. There’s a strong likelihood you won’t be able to find a use for these resources, but that doesn’t mean you should throw them away. Try to recycle anything you don’t need because it might give someone else an economic boost.
Shrink Your Spending With Skilled Services
At Skilled Services, our job is to simplify the tough projects. Our experts don’t pad your balance sheet with services you don’t need. With us, you’ll only pay for the solutions that make sense. Whether we’re making over an office space or tackling a commercial bathroom renovation, you can count on our experts to streamline the process in a cost-effective manner.
Protect your bottom line and gain peace of mind with a seamless commercial construction transformation. Reach out or fill out the form below to get started with your free consultation. Until then, check out our success on these two projects: