How much does a store renovation cost?

Estimating how much to budget for your store renovation may seem like a daunting task. One of the biggest concerns of a store owner while renovating the store is, of course, “how much will it cost me?”

Unfortunately, there is no single answer. Instead, there are many factors that contribute to the bottom line of your store renovation project. These include the size and age of your store, the cost of the materials, and the extent of the renovation to be done. Ultimately only a qualified contractor who has understood your requirements will be able to arrive at a final number.

Many store owners consider store renovation as an expense, and as such, try to spend as little as possible. However, savvy store owners consider renovations as an investment, understanding that a renovation can bring a higher average order value and more customers to their location.

Understanding the investment required for a proper store renovation in Toronto is critical to realistic budgeting and a successful project. The exact cost of renovating your store will depend on its size and the age of the building, regional labor costs, materials used, and just how much of a face-lift it needs.

The age of the store is a particularly important factor. Many older stores may require infrastructure updates and are labor-intensive projects, whereas newer stores typically have easier access to wiring, plumbing and ventilation. In general, the older the store, the more the hidden costs. Likewise, the larger your store is, the more you may have to invest in your remodeling.

Sensible store planning and design will help you accurately calculate the materials and labor required. Planning ahead will prevent wastage, time delays, and unexpected expenses. Pricing of materials varies widely and is an area where store owners can save big if they buy correctly. Working with a trusted, expert remodeling contractor will enable them to source the best materials and designs from around the globe. Make sure you choose your commercial contractors wisely. Your commercial contractor in Vaughan will be able to save you money by keeping costs down wherever possible and work to deliver a renovation that you, your employees, and your customers will enjoy for years to come.