It’s one of the most important decisions an existing commercial business can make. Committing to a renovation may seem like a daunting prospect, especially if you are amoung the many who assume it will impact current and ongoing operations (and thus revenue) until the project is completed. However, the benefits are numerous, including both functional and aesthetic improvements that can equate significantly more business and a better working environment to boot. It’s a tough decision, we get that. Thankfully, as one of Central Alberta’s premier commercial renovation contractors, we have deep insight into your quandary and the entire decision making process.
Today, we lay out the key reasons why any commercial business in the province may need a renovation. If any of the following applies to you, you know what step you need to take next. But first, let’s have a read.
1. Your Property Was Constructed Under Old Alberta Building Codes
This need for renovation is steeped in absolute necessity. Old Alberta building codes ignored energy efficiency requirements and your business will be required to keep up to date. When we say “old” we’re not talking five, ten, or many more years ago. The province has adopted (by regulation) the 2011 edition of the National Energy Code for Buildings (NECB) which details energy efficiency requirements for small buildings under section 9.36 of the 2014 Alberta Building Code. This came into full force on November 1, 2016. While some commercial shops rushed to keep up, others did not. If you count yourself amoungst this lot, you will need to accommodate your property accordingly.
How can this be accomplished? For one, through superior insulation, which can be addressed by metal roof retrofitting and metal wall cladding. Of course, depending on the condition of your building, you may need a more comprehensive renovation to keep up to code.
2. You Need to Reduce Ongoing Utility Expenditure
While Alberta’s building code changes intend to improve energy efficiency standards to support the province’s Climate Change Strategy, it has a big business benefit to you. The improvement in energy efficiency will reduce your monthly utility (heating and cooling) expenditure. Given the extreme temperature fluctuations of Central Alberta, this reduction in monthly expenditure can have a very positive impact on your bottom line. Any cost associated with a renovation may be fully recouped within months of project completion (ROI timeline contingent upon scope of work).
3. The Local Weather Has Taken its Toll
Detailed in one of our own articles titled, One of the Top Commercial Construction Problems You Need to Know About, Alberta weather is a major call for renovation. Obviously you should attend to any repairs needed from damage sustained after recent windstorms in Red Deer (a statement applicable each and every year), but you should consider a renovation to prevent future damage. Metal roof retrofitting and wall cladding installation will better prepare your property for the brunt of wind, fire, and freeze that the province can deliver season in and out. Read more on how future Alberta weather demands that you take precautionary action today.
4. Commercial Gentrification is Coming
By loose definition, “commercial gentrification” refers to the processes by which long-established businesses providing affordable products and services are leaving key commercial neighbourhoods and being replaced by establishments catering to the more affluent. Is this really happening in Central Alberta? Perhaps not to the socioeconomic extent that the word gentrification is normally associated with, but there is a trend that calls for commercial properties to keep up with municipal demands to upgrade their building. As the province grows, brick and mortar businesses are expected to update accordingly, or they do indeed risk being “pushed out” of developing communities. Consider a renovation as a very worth while investment that will keep your business relevant as the province attempts to draw in interest from new consumers and commercial investors alike.
5. It Will Increase the Future Resale Value of Your Commercial Business
Is the sale of your brick and mortar business on the two, five, or even ten year horizon? If so, you will want to get all that you can in the sale of your property. While local area demographics and existing customer base play a major role in the value, interested parties will look directly at the condition of your building. If it does not stand up to current building codes, harsh weather to come, and appeal to municipal and consumer demand for modernization while at the same time optimizing energy efficiency, you will not be able to attract deep-pocketed buyers. By committing to the repair and renovation of your building (including wall cladding, roofing, and beyond) you can significantly increase the resale value of your shop or office complex.
6. It Can Be Done Without Disrupting Day to Day Business
Circling back to the point addressed in the introductory paragraph, one of the biggest trepidations a commercial enterprise has about undertaking a significant renovation is the perceived loss of business and revenue that can come throughout the process. Even though you know that you will attract more business after the renovation, you may not be able to take the potential financial hit in the interim, especially if you just barely scraped through the past two years of economic turbulence. But this need not be the case.
When you choose then right commercial renovation contractor, one that is sensitive to this very concern, your project will be worked on and completed with little disruption to day to day operations. Staff and B2B/B2C customers/clients (as applicable) can come, go, and partake in their necessary activities as needed. This becomes viable with smart planning, and working around a schedule that meets the needs of all stakeholders involved.
Need an example? Look no further than right here in Central Alberta. Apple Building Systems completed a very complex project for the Rocky Credit Union that involved the addition of a second floor to the existing building, in addition to remodeling the basement and main floors. The intensive project was completed to great success without any significant hiccup to their daily business.
Simply put, you can reap all of the benefits of a renovation without impacting your current revenue stream. But this can only happen with a commercial renovation expert that knows how to accomplish this challenging task. Luckily you’ve come to the right place. Contact Apple Building Systems today.