Every retail business owner at one time or another would dream of modifying their retail space even though they planned about the layout starting day 1. Perhaps it would be helpful to have an extra dressing room or you would like to remove a wall to give way to a new section. Before starting with the sledgehammer, you better check on some factors for shop renovation in Singapore:
Why do you want to renovate?
The most common reason why retailers consider renovation is to make the old space look new or to expand it. It might also be because you like to update or upgrade the brand, allow for more merchandise, widen the aisle for taking in more customers during busy times, and simply refreshing the old tiles for the floor. No matter what reason the owner may have, it requires advance planning done through a written plan and a timeline. These can help avoid any delays and unnecessary expense.
What do you like your store to look like?
If you’re expertise is not into renovation or engineering, you’re better off hiring a professional and competent contractor for the job. You may be in need of an architect, a lighting expert, a contractor who would be able to obtain permits or you may also benefit from the expertise of a retail design specialist who can give you the best store layout.
It’s also better to consult with your customers and employees. The employees are on the front lines every day and they can give valuable input. They also would know what changes customers often ask for.
How will you finance the renovation project?
Once you have received the construction bids and sum up all your anticipated costs for the renovation project, you have to know how to finance the project. It’s a wise decision to add 15 percent more to the original quotation you come up with for the project cost. When you don’t have cash, you can consider other financing options. You can have the finance on credit card option. You can also talk to a banker for a 3- to 5-year loan with reasonable interest rates.