Numerous factors influence how much a commercial refit will cost. From the scope and overall aim of the project, down to the quality of finishes and the current state of your establishment several aspects influence the final price of the project. As experienced shopfitters, we understand your desire to lower costs without compromising quality. But how can you achieve that? Continue reading to find out.
Budget saving tips to reduce fit-out costs
Commercial fit-outs undoubtedly require a lot of time, effort and money if you want to get it done right. The success of the fit-out depends partly on your ability to manage time, estimate costs and find the best solutions that work.
But what can you do if you have a limited budget? And how can you reduce fit-out costs without compromising quality?
Choose your location carefully
Choosing an appropriate location is the first step towards minimising fit-out costs. Especially if you are relocating or opening a new unit. Both the size, location and current state of the building you are about to buy or rent will influence how much the fit-out will cost.
While intuitively it might be appealing to relocate to a building that is already fitted-out, this is a good idea only if there are only minor modifications to make. Changing the layout, tearing down walls, redoing the electrical wiring or ductwork can all be expensive. In turn, this can add extra pounds to your budget and increase the fit-out costs.
Set a realistic budget
The next important step in reducing fit-out costs is setting a realistic budget. Estimating the fit-out costs and deciding how much you are willing to spend is critical to success. But how can you do that? And what should you pay attention to during the process?
Estimating the final cost of the fit-out can be challenging. Each space is different, and everyone has different needs and problems to overcome. Nevertheless, you can create a realistic estimate by evaluating your space and your specific needs. Think about what changes you need in terms of layout and design, and what type of fixtures, fittings and architectural works are required.
Once you have a clear vision in mind, you can also do some research. Several online websites offer price calculators to estimate the cost of a fit-out, taking into account the size and location of your outlet as well as the quality of the finishes. And while they might not always be 100% accurate, they can be a good starting point.
Also, try to get in touch with owners who have recently had a fit-out. Ask them about their costs and allocated budget. Alternatively, you can also look for statistics and graphs on how much a refit usually costs in your area. Nevertheless, keep in mind that prices vary from shopfitter to shopfitter. Even so, these strategies can help you establish a realistic budget and set your expectations right.
Recent studies show that one of the most common reasons why many fit-out projects exceed the estimated budget is lack of time and planning. On average, 70% of owners have underestimated the time and money it takes to complete the project. In turn, this can lead to increased downtime and additional expenses.
As a result, one of the most important things to do before you invest in a refit is planning. This will not only give you enough time to think about what you really want and need but also help lower the fit-out costs. Creating a realistic timescale for the project is crucial in this regard. But how can you do that?
Think about the scope of works, and try to get in touch with people who have recently undergone a refit. Several shopfitting contractors also display their past projects on their websites. Take a look at them and see how long it took to finish those projects.
And keep in mind that the sooner you want the fit-out to be finished, the more it will cost. So make sure you leave enough time for the project and anticipate possible complications or delays.
When you finally decide to invest in a refit, it is natural that you want to get as much done as possible. Nevertheless, if you are on a tight budget, you will have to prioritise. After all, it is always better to get less done but well than getting everything done but to sub-standard quality.
To do that, think about what would have the maximum impact, and consider the benefits versus the associated costs. Try to focus on those areas that would lead to long-term improvements in sales or customer experience. Doing so will help increase your revenue and ensure a quick turnaround.
Upcycle & Reuse
We know it feels good to change everything when you finally decide to invest in a complete fit-out. Nevertheless, if you are on a tight budget that might not be possible. Reusing and upcycling certain items from your previous design might be the solution.
Maybe your existing shelves can be repainted or revamped. Or a simple upholstery will breath new life into your dining chairs. There are endless options to match existing furniture and fittings to a new design concept. So you can think about it.
Similarly, you might also consider buying second-hand furniture and fixtures. In many cases, you will be able to find them in great condition. With a bit of creativity, colour and a few tools you can match them to your new design or decor.
Choose a reliable shopfitting partner to reduce fit-out costs
Last but not least, the shopfitting contractor you choose is critical to success. While you might be tempted to do everything yourself, working with a professional shopfitting company has numerous advantages. First, their experience and expertise can help set your expectations right, and allow you to estimate the cost and timescale better. They will be able to offer practical advice which will help you avoid costly design and fit-out mistakes. At the same time, professional shopfitters often have contracts with various vendors and manufacturers, enabling them to negotiate a discount on various items you need.
Nevertheless, in order to truly benefit from a shopfitting team, you must choose them with care. Being able to talk honestly to a professional team and negotiating price, expectations and timescale is critical to success. Trusting your chosen shopfitting team to keep within your budget, and who understand your vision and needs is vital in this regard. For this reason, it can be a good idea to get in touch with professional shopfitters and discuss your requirements and needs with them.
Speak with others who have recently worked with them. Similarly, most shopfitters will have a list of previous projects and partners they have worked with. Getting in touch with them, reading testimonials online can help make the right decision.
Looking for professional help to reduce fit-out costs?
Fitting out an outlet can be both stressful and expensive. Today we tried to gather our most valuable ideas on how to reduce the cost of a fit-out and eliminate stress. Nevertheless, if you feel lost in the process or need professional help, our team at Contrast Interiors can help.
At Contrast Interiors, we have extensive experience in all types of commercial shopfitting projects. Working with our in-house team of architects, interior designers, joiners and shopfitters allows us to come up with efficient solutions irrespective of your budget. Paying attention to your needs and requirements, we offer high-quality fit-out services at competitive prices.
Contact us for a free consultation.