Franchise remodeling projects can require a lot of resources. Technology, furniture, signage, and the biggest one, capital. With seemingly endless expenses, it might seem as though the project isn’t worth it. However, the payoff is usually well worth the costs and time spent on remodeling. Plus, Harbour Capital can help you finance your remodeling plans and help make the process smooth and easy. Here are a few reasons why you should consider remodeling your franchise location.
Improving Customer Experience
A remodeling project provides the perfect opportunity to ramp up customer experience and create curiosity about your location. If your customers enjoy their new experiences at your remodeled store, they are likely to return and pass along the information to their friends and family. Although some people don’t like change, change can be a good way to create a fresh curiosity about your store. If you have an older or outdated style, customers will not enjoy their experience as much and will be less likely to return in the future.
One of the best reasons to consider remodeling your location is when you need to upgrade your equipment. Additionally, one of the best reason to considering upgrading your equipment is when you need to remodel your store. The logic goes both ways. If you are already planning on upgrading some of your equipment, it may be smarter to simply go for the entire overhaul. The new equipment could be different in size, shape, functionality, etc. This could allow you to rearrange your kitchen, point-of-sale, or even your entire store. For example, if you are upgrading to a new freezer that is more efficient on space, you could rearrange your whole kitchen! In this way, upgrading equipment could actually be the main reason why you want to consider a remodel. If you are already considering a remodel, this might also be a good time to upgrade your equipment. Since a remodel usually requires you to clear out all of your equipment, this might be a good opportunity to simply upgrade your equipment when you put all of your stuff back into the store.
A Fresh (sort of) Start
Even though a remodel isn’t actually a “fresh start”, it can be seen as one from your customers. Remodeling is a good way to give your store a vibrant and fresh look to keep your store updated and new. No one wants to go to a store that is out dated and feels like a trip back in time. In today’s business climate, fresh and new is always preferred and a remodel is a perfect way to keep your location up with today’s trends.
Remodeling Doesn’t Have to Break the Bank
Financing your remodel doesn’t have to break the bank! It is a common misconception that remodeling is a waste or money because it doesn’t have an immediate impact on your bottom line. However, the long term financial implications can definitely be worth it. Additionally, financing the remodel can be done without hurting your cash flows either. Financing a remodel with Harbour Capital is quick and painless because we can finance the actual equipment, along with all of the soft costs of the remodel. This means that we can give you the cash to pay for the additional expenses of a remodel, such as training your employees on the new equipment.