Looking for ways to save time and money? Of course, everyone is. And the key, especially when doing something as complicated as a retail buildout, is to save that time and money without sacrificing quality. And to save money without sacrificing time. Sometimes it's easy to save money by "going it alone" on a project (managing it yourself) but the delays can be costly if it means your store opens later than planned.
Here are five areas to look for savings, in order to help you do your buildout a little smarter. For more details, please check out our E-Guide Cost Savings Via Construction Management and our Whitepaper Improving the Retail Buildout. And feel free to Contact Us with any questions, of if you'd like a free consultation to see how F.C. Dadson can help you save on your next buildout.
5 WAYS TO SAVE TIME AND MONEY ON YOUR RETAIL BUILD-OUT
Building out a retail location can be a time-consuming and expensive process. Here are a few ways that retail owners can save both time and money, while getting their store open on-time and on-budget:
- DESIGN – MAKE SURE YOUR DESIGNS INCORPORATE ALL APPLICABLE REGULATIONS
Many retail locations are subject to regulations regarding the number of seats, how many restrooms are required etc. Make sure your store design not only looks amazing and will set you apart from the competition, but also that it meets all of the legal requirements for the space.
- ARCHITECTURE – ENSURE THAT THE ARCHITECTURAL PLANS CLOSELY MATCH THE LOCATION
Sometimes architects and contractors don’t see eye to eye. In order to minimize costly re-dos to the plans, make sure that you get feedback from the contractor on the plans before they are finalized.
- PRE-CONSTRUCTION – GET AN INSPECTION DONE
Prior to signing a lease, make sure you have a thorough inspection done. A good inspection can uncover multiple opportunities for site improvements, which can be negotiated with the site owner.
- CONSTRUCTION – BID OUT THE GENERAL CONTRACTOR
It’s always a good idea to have at least 3 general contractors bid on your project. Even if you know a contractor you would like to use, it keeps them honest and ensures they are giving you the best price. Sometimes the questions that come up in the bid process can help you identify other money and time-saving opportunities as well.
- FIXTURES – MAKE SURE YOUR FIXTURES HAVE BEEN VALUE-ENGINEERED
Fixtures, Furniture, and Equipment (FF&E) are often overlooked or taken for granted in the retail build-out process. Certain fixtures may already be mandated, but it’s worth checking to see if the fixtures have been optimized for the space and value-engineered. A company with an expertise in fixture manufacturing can help determine if the same level of quality and aesthetic appeal can be had for less investment.