4 Simple Tips to Stay on Budget for Restaurant Remodeling Projects…
It looks to be another strong year for Southern California restaurant remodeling. With the economy steadily improving, both casual and high-end restaurants are filling up again. This boost to business has renewed the confidence of not just national restaurant chains, but also local restaurant groups looking to expand into other markets. This means owners of existing establishments must keep their space fresh to avoid being tagged as stale or yesterday’s news. This has more restaurant owners considering renovations or remodels to stay hip and remain competitive with new restaurants popping up around them.
It’s important to properly plan restaurant remodels to avoid some very common mistakes. Keep your budget in line with the following tips:
- Outline and Prioritize Your Goals – Naturally, you have options when remodeling a restaurant. However, it’s important to accept the fact that you can’t afford to do everything at once. Figure out what’s most essential right now and what can wait until later. Remember that periodic restaurant renovations are recommended – so certain things can wait until next time.
- Go High-Impact/Low Budget – Get more bang for your buck by opting for high-impact cosmetic changes like new paint, new lighting, or new upholstery to reenergize your restaurant’s look without a huge capital investment.
- Consider Lost Business – Nothing hurts your business more than going dark for an extended period of time. Many restaurant owners don’t properly budget for lost sales while their establishment is closed for renovations. You need to do what you can to ensure business continuity. Make sure all important details are hashed out prior to the start of renovations. Factor in anything within your control that could potentially cause a workflow delay. For instance, have all finishes or furnishings been chosen? Don’t let a projected 4 to 5 week job turn into a 6 to 10 week project. Time is money. A good commercial contractor will do what they can to ensure work is completed on time with as little disruption to day-to-day business as possible. This may mean working odd hours of the night, on days you’re already closed, or putting off a project until a time of the year when business is slowest.
- Be Sure to Leave Wiggle Room – When trying to keep a contained budget, it’s important to also budget for the unexpected like having to pay overtime to stay on schedule or needing more paint.
Lastly, it’s very important that you choose an experienced commercial contractor for any restaurant remodeling project. This is the best way to avoid the aforementioned common pitfalls and ensure renovations are done on-time, on-budget, and with minimal business disruption.