How Strip Mall Renovation Boosts Profitability
Strip malls have been a common sight in the US for decades. Their invention allowed the localization of different services in a way that is convenient for customers. However, as years go by, strip malls are starting to face intense competition from other more convenient alternatives. Such alternatives are yet to usher the end of strip malls though. As a strip mall owner, you still have a lot more profit to make depending on how well you run your business. You can decide to make your mall pop through renovations which will, in turn, boost profit.
Here are a few ways in which your decision to renovate your strip mall can make it more profitable.
Roof designs have revolved to include different designs that might work for your strip mall. Your roof is one of the first things customers will notice about your strip mall. Therefore, tearing down an old roof and adding a new and modern one can change the face of the entire building. It helps add more character to the strip mall without necessarily taking up more space. Talk to a commercial builder to help you pick the best roofing plan for a new look for your building.
The good thing about renovating your walls is that you don’t even have to tear them down. In retail renovation, the simple act of cleaning up your walls and getting rid of stains such as graffiti will make the building look new. Apply a fresh coat of paint to get rid of the discoloration and you will have given new life to your strip mall. Additionally, you can decide to add art pieces on the inside to make the walls livelier and attract more customers. Get a commercial renovation contractor to help you find ways to make your walls more appealing.
Landscaping used to be a luxury item for most strip malls owners. However, it has now grown into a necessity with more strip malls spotting elaborate landscape patterns across the country. Landscaping serves two purposes, it attracts more people and shows your environmental awareness.
Most strip malls are currently used by fitness retailers, financial services firms and insurance firms. These are businesses that utilize plenty of lighting to advertise their services. Make sure that your strip mall is adequately lit on both the inside and the outside. This includes any signage that alerts people of the services within the business center. Proper lighting helps improve the aesthetic value of your business. It also makes it easy and safer for business owners to run 24-hour joints.
Walkways and Canopies
Consider building walkways and canopies that allow people to access the shopping center regardless of the weather conditions. A canopy extending from the parking lot to the center will help people visit the strip mall when it is raining, for example. This not only ensures that there is an even stream of traffic throughout the year it also gives you more revenue-generating options by increasing the surface area to sell ad spaces.
As long as strip malls continue to resist the e-commerce market wave, there is a lot more you can do to make them profitable. Contact Headwaters Constructions today for professional advice on how to renovate your strip mall to increase your profit margins. For assistance in consulting and planning, we are always here for you.