A restaurant renovation can be a major change for a business, but it’s a necessary one. Keeping your business fresh and up-to-date is crucial to attracting new customers and to keep your old ones coming back. If you’re planning a renovation, make sure you follow these tips.
1. Don’t Wait Too Long
Customers will start to leave as soon as your place looks old. Make sure you start your remodeling project before that happens. Plan on remodeling at least every five to seven years to keep things new.
2. Know Your Target Customer
Decide before you start planning your remodel what kind of customers you want to attract. Your target customer will determine a lot of the details and the overall direction of your remodel. Meeting their needs will help you to make decisions about what the space should look like.
3. Review Your Lease and Other Restrictions
If you’re renting your space, make sure that you know what’s in your lease. Some landlords may have restrictions regarding what can be built while others may require final approval before construction can begin. More favorably, many landlords will agree to pick up a portion of the renovation cost tab.
4. Get Your Financing in Order
A restaurant renovation can be a big investment, which is why the majority of them are funded by small business loans. Find out what your business qualifies for and how it can obtain funding before you start your renovation project. The amount of credit that your business can get will determine the upper limits of your renovation budget.
5. Look for a Good General Contractor
The company you trust to handle your restaurant renovation needs to be experienced in this type of work. Restaurant renovation comes with a unique set of challenges that not every general commercial construction contractor can handle. Choosing a company that has worked on other restaurants will ensure that the project stays on time and within your budget.
6. Carefully Think Through Your Construction Timeline
Work very closely with your contractor for this. One of the most important things that you will need to decide before work can begin is whether or not your restaurant will stay open during the renovations. Shutting down completely can mean a loss of revenue for a short time, but an extended construction timeline with sections of a restaurant closed off for work can also be off-putting to customers. Also, be aware of the time it will take to get permits and retrain employees.
7. Plan to Promote
The main reason you’re making this investment is to attract new customers. Because of this, it only makes sense to tie a promotional campaign into your renovation expenses. You may want to plan a “Grand Reopening” and advertise menu changes.
When it’s time to renovate your restaurant, give Modern Construction Corporation a call. We provide quality general contracting for various types of clients, including restaurant owners! Our team will work one-on-one with you to develop a comprehensive remodeling plan for your restaurant that will drive success to your business. Reach out to us today to get started!
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