How Strip Mall Renovation Boosts Profitability

strip mall renovations

strip mall renovationsStrip 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. 

Roofing 

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. 

Wall Improvement 

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 

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. 

Lighting 

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. 

How Strip Malls Are Being Renovated

How Strip Malls are being renovated - Headwaters Construction Inc

How Strip Malls are being renovated - Headwaters Construction IncStrip malls are generally characterized by a collection of retail stores in a row. Shopping centers or shopping plazas, and strip malls have existed in America for decades. Thanks to an increase in commercial construction over the years and a growing population, there are more strips malls in the country than ever before. 

These strip malls brought some level of convenience to shoppers by bringing everything into one location. They have also increased accessibility to consumer products in residential areas.

Technology, however, has been causing a lot of problems for strip malls. By making it easier for you to buy anything you want on the internet and have it delivered to your home, it robs strip malls of the convenience they once provided. Additionally, it has also threatened to affect a significant portion of its traffic.  

Despite this, strip malls are not going down without a fight. They are reinventing themselves through commercial renovations that bring them back to their past glory. This allows them to keep their traffic. 

There are three types of strip malls. They include community centers, neighborhood centers, and strip centers. Each varies in size and the number of people they can serve a go. 

Here are several ways in which business owners are renovating strip malls to make them relevant to the modern shopper.  

Offering Mixed-used Spaces 

The modern strip mall is designed to allow as many people as possible in both size and diversity. You are now most likely to find gyms, spas, bowling alleys, office spaces, and residential spaces within the strip malls. Gilmore Heating and Air, an HVAC company that offers air conditioning repair in Sacramento, agrees that this increases traffic which, in turn, helps increase revenue. 

Integrating Public Transport 

Initially, strip malls were designed with parking lot spaces in the front. This is changing as commercial renovators are redesigning them and allowing space for public transport.

Modernizing the Retail Experience

One of the most important objectives of retail renovation is in creating a better experience for shoppers. It helps beat competition with online shopping avenues which offer better flexibility in terms of user experience.  This means increasing services that will enhance user experience and make them want to come back by offering in-demand services such as restaurants and organic groceries. 

Including Medical Facilities 

Strip malls are increasingly adding medical facilities in order to make healthcare more flexible to shoppers. Contractors are now creating medial facilities that go beyond the conventional healthcare system. This includes having specialized medical services such as dialysis clinics and pharmacies. 

Creating Entertainment Spaces

Modern technology has increased the number of entertainment channels for users. Not everyone has access to this technology. Also, some of these technologies require large spaces which make it impractical to have in individual homes. This has seen strip malls including entertainment centers such as virtual reality gaming facilities. Now, players can converge and enjoy gaming features such as multiple players, tournaments and so much more. 

Strip malls offer a convenience that is yet to be fully exploited by landlords and shoppers alike. It is likely that they will be around for a long time. However, to beat their competition, they need to stay relevant to the consumers. For information about our commercial construction services, contact Headwaters Construction Inc. or check out our projects to see our latest work.