Shop Renovation Singapore
When should you renovate the shop?
Any expert and their aunt will tell you that shop renovation is a must every three to four years in order to avoid having the store slipping into a rut.
A remodelling tells customers that the store is up to date, and here to stay.
That’s easy for them to say. The question is when is the right time, considering the disruption to the business.
WHEN SALES ARE STAGNANT
If your sales have plateaued, it’s time to act. It might already be too late if the arrow is headed down towards the red.
Those experts and aunties are right about the three-to-four year rule of thumb, but you might have to renovate sooner to kickstart the business, particularly with the threat of online retail these days.
WHEN THE ‘MONSOONS’ ARRIVE
Resort hotels in this region do all their major renovation work during the monsoon season when occupancy dips. Determine when your monsoon is and plan ahead to renovate then.
For example, if your shop caters to students and is near a university or polytechnic, renovate during the long holiday break.
WHEN CRACKS APPEAR
If your shelves look like they’re about to give way, it’s as simple as replacing them. If there are cracks on the wall, plaster it up immediately before calling a contractor to start planning the renovation.
Business might be brisk and the look of the shop may not need a refresh in the near future, but structural problems will not only scare off customers but they pose safety risks.
We know the heavy rain was to blame for that roof collapse on the driveway of a certain Orchard Road hotel recently, but think about the damage to the establishment’s reputation.
Make sure you check the electrical fittings, plumbing fixtures etc.
WHEN THE LEASE IS ENDING
Which brings us to the last tip, if structural renovation is needed.
If you’re renting the shop space and the cash registers are still humming along happily, there’s no need for a remodelling ASAP and you hold off until you’re near the end of your lease.
If a renewal is on the cards, and it’s a renters’ market, ask the landlord to bear the costs of any structural renovation to the shop, leaving you to pay for anything else to enhance your business.
Renovating halfway through the lease will most probably mean you’ll pay for it all.