Renovating Your Retail Store? Don’t Miss Out These details

January 31, 2024

by rmkdesign

Thinking of giving your retail store a new look? Renovating can breathe new life into your space and attract more customers. But, it’s not just about painting walls or buying new furniture. This article covers key details you shouldn’t miss when renovating your retail store.

From the importance of your store’s entrance to budgeting and customer needs, we’ve got the essential tips to make your renovation a success.

First Impressions Matter:

The first thing customers see when they walk into your store is super important. It sets the tone for their whole shopping experience. Your entrance area, or “decompression zone,” is where customers start to take in your store.

For example, polished plaster can be fully personalised so that it works seamlessly with your branding, which is why we recommend using it to create the perfect first impression.

In addition to that, use good lighting, nice fixtures, and colours that match your brand. You can put something eye-catching like a styled mannequin or a special display in this area. This helps customers feel good about your store right away and draws them in to see more.

Create a Clear Vision:

Plan Your Store’s Look: Before you start renovating, have a clear idea of how you want your store to look. Think about the style and layout. You can make a mood board with pictures that show the look you’re going for. This helps you and your team, and it’s useful if you’re working with a designer or architect.
Check Your Space: Make sure your store can handle the changes you want to make. For example, can the walls support new things to hang? Can your store’s wiring handle different light bulbs? Answering these questions before you start helps avoid problems during the renovation.

Budget Wisely:

Renovating costs money, and it’s about $50 CAD/$40 USD per square foot on average. When making your budget, add an extra 15% for unexpected costs. Be realistic about what you can afford. If you can’t do everything at once, start with the most important area. This way, you can still give your store a fresh look without spending too much all at once.

Consider Customer Needs:

When renovating, think about what your customers like and need. For example, if you sell to mums, make sure your aisles are wide enough for prams. Good lighting is also important. It helps customers find what they’re looking for easily. This is especially helpful for shoppers with kids. Making your store more enjoyable for your customers can increase your sales.

Employee and Customer Feedback:

Your employees know your store and customers well. They can give you good ideas about what changes will work best. It’s important to listen to their suggestions. They might know things you haven’t thought of. Also, think about what your customers would like to see in your store. Their feedback can help make your store better for them.

Financing the Renovation:

Work out how much the renovation will cost and how you’ll pay for it. It’s smart to add an extra 15% to your budget for unexpected costs. If you don’t have enough cash, talk to your bank about a loan. A 3-to-5-year loan with a good interest rate is a sensible option. You can also look into an SBA-guaranteed loan for improvements. Avoid using credit cards for big renovations because they can be expensive.

Competitive Edge:

Stand Out from the Competition: A fresh and creative shopping experience makes your store stand out. When you renovate, you’re not just updating the look. You’re also showing your customers and competitors that you believe in your store’s future. This can give you an edge over other shops.
Attract New Customers: A well-done renovation can attract new customers. People are often curious about new and improved stores. If you market your renovation well, you can create excitement and anticipation. This can bring in customers who want to see the changes for themselves.

Takeaway

To wrap up, a well-thought-out renovation can transform your retail store into a vibrant, customer-friendly space. Remember to focus on first impressions, align your renovation with customer needs, budget wisely, and listen to feedback from employees and customers. A successful renovation is about more than just looks; it’s about enhancing the overall shopping experience.