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The restaurant industry is dynamic and fast-paced. Therefore, it should not be shocking that restaurants need to come up with innovative ideas to stay updated and attract new customers. One of them is a restaurant remodel.
Regardless of your reasons, restaurant renovations and remodelling have many benefits, such as increasing your restaurant’s value. The Restaurant Times reports that restaurants that undergo renovations typically experience a 10-20% increase in sales.
Let’s explore the best tips you should know when remodelling your commercial property.
Start With a Foolproof Plan
A foolproof plan is crucial, whether it’s a Commercial Property Construction or remodelling project. It is a plan that is genuine, comprehensive, and adaptable to changing circumstances.
So, analyze how different brands have effectively remodelled to meet their objectives. Talk to your colleagues and customers (holding a competition or giving them freebies could help you get the most fantastic ideas from them).
You can seek assistance from a survey company or a brand management specialist. The plan, crafted considering realistic data, will be foolproof and readily accepted by your customers.
Simultaneously, ensure that the renovations maintain the essence of your restaurant unless your goal is to rebrand it. Finalize any adjustments after considering your idea, target audience, brand image, and format.
Find the Right Contractor
Finding the ideal contractor for your renovation project is crucial. They will understand your vision, timeframe, and budget and assist you in coming up with ideas and designing the layout.
Therefore, connecting with people in your network is an excellent way to find the best kitchen remodeling contractors. Industry professionals may have a list of contractors you can contact. So, choose one that has received high praise from people.
Keep A Check on the Latest Trends
The renovation checklist should be comprehensive and consider current trends. Analyze current market trends and develop a refurbishment strategy that sets you apart from the competition while staying current.
You can include modern amenities and technology in your strategy even if your restaurant is a family-run, conventional.
Prioritize The Critical Issues
Sometimes, During the restaurant renovation process, the aesthetic appeal may overshadow the convenience of customers.
However, you should always prioritize critical issues. For example, address problems like a leaking sink or clogged parking spaces before moving on to more aesthetically pleasing upgrades.
Pick the Best Time to Remodel
Renovating during a slow season can lessen potential losses and provide free publicity for businesses. The beginning of the year is ideal for restaurants, while seasonal businesses can reschedule during off-seasons.
Prioritizing urgent remodelling is crucial, but being smart about the timing is equally important if remodelling before opening a new restaurant; rescheduling during a busy season can provide free publicity.
It’s also important to consider making the existing space functional during busy seasons.
Set a Budget
When remodelling a restaurant, it’s crucial to have a budget in mind. Interior designers, architects, and contractors can provide rough estimates with a 10% contingency fund.
For this purpose, Consult a financial professional for a realistic budget. If raising funds, speak to a local Small Business Development Center or a loan officer. The industry average is $150-$300 per square foot, but renovating an existing space can often be cheaper than building from the ground up.
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