Budgeting for a shop refit

Managing your budget to create your perfect retail environment is perhaps the most difficult part of the process. Every choice you make needs to be supported by a strong argument that it increases your overall ROI.

No matter the size of your budget, if you don’t spend it wisely your ROI is going to suffer, so here are three very basic considerations to help you decide where to focus your spending. If you’ve had to close your shop and revert to online-only, thanks to the pandemic, then now may be the perfect time to consider a shop refit.

Match your design to your products

Remember that the purpose of your shop design is to sell your products, and that means putting them first. Think about your stock and where it sits on the retail spectrum – is it high volume, low cost or the reverse? If you transform your shop into a luxury retail environment, with the hushed, soft feel of a jeweller’s shop, for example, is it really going to help you sell your pet accessories? Would you use unfinished OSB shelving units for designer apparel?

Keep costs down with simple designs, and then elaborate on them

Curvaceous, organic designs can eat money. Simple, straight edges and right angles make design and construction much easier and simpler, keeping costs down. Giving up on the curves in your design needn’t be a design compromise – and you can create organic and flowing designs with the imaginative use of graphic wraps.

Think modular

Consider what you may need in the future. We’ve had great successes with mobile, modular display cabinets and tables. Creating a shop with a reconfigurable floor plan allows you to change the focus of your shop onto different products. You can create new paths through the shop, foregrounding certain products or using your fastest selling products to draw customers towards the new range you want to highlight. A fixed floorplan may be cheaper but won’t offer as much flexibility in the medium to long term.
Trust your contractor, or choose a contractor you trust.

Whoever you choose to design and create your new retail environment, they should have the experience and knowledge to guide you through these budgetary decisions and provide economical alternatives that won’t compromise your ROI. They should have a track record of delivering on time and on budget, so check with their previous clients!

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