The licensed funding specialists at Synergy Merchants have discussed numerous options with their clients concerning…
Renovating is often listed as one of the top reasons that Canadian business owners get money for their companies. We’ve spoken often, here on the Synergy Merchant Services Blog, about the benefits of sprucing up your store to keep your customers coming back to an establishment that is always “fresh”.
It’s important to communicate that you are not willing to settle. Staying ahead of the competition means being innovative and ever-changing with the times. Meeting the needs of your customers sometimes means making your store as inviting as possible. This may require several makeovers.
The thing is, many business owners fear that the expenses involved with renovating may prove to be too costly to continue turning profits once they are done. Last month, in a QSR Magazine article by Robert Thomas, it was explained that a merchant can renovate his or her store in ways that will help gain new customers without losing old ones.
“Go big or go home,” insists Thomas right off the bat. He contends that, when renovating, one should go for a complete change and a fresh look. Speaking from personal experience, Thomas recalls reconstructing the interior of his store completely. This gave him more space that could be better utilized.
When completely making over your store, it is likely you will have to close your doors for some time. The resulting lack of business during the renovation period is also something that worries many entrepreneurs. Thomas indicates that he didn’t want to close his doors during the renovation of his store.
He notes that customers live a “habitual lifestyle” and shutting the doors to your business may cause them to shop elsewhere. He decided to keep his doors open so that the customers could see the changes themselves. It became one of his most valuable marketing opportunities as it created reasons for customers to tell others about what was going on at his establishment.
It is okay to shut your doors for a short time if you can afford it, assures Thomas. He does note that in this event, construction does need to be fast. It may seem excessive, he admits, but your renovators practically need to be working non-stop until the job has been completed. We will take a look at a couple of other renovation tips in tomorrow’s blog.