Why do retail stores remodel? With an average cost of $3.7million and extended periods of closure or disrupted sales, one would think that this equation doesn’t add up. Behind the surface numbers however, corporations have found the 5-7 year remodel cycle to be very much worth the hassle.
Successful businesses look at their Return on Investment, or ROI. Within the first year of it’s remodel, an updated, refreshed store can expect to generate an average sales increase of 43% due to new customers; existing customers will also increase their purchases by 7%. Balanced against the current revenue stream for that store, this could quickly add up to an excellent Return on Investment. Within the ROI equation is the factor of time: time of business disruption, time of closure, etc. Anything that can speed up the process is worth exploring.
Platt360 provides a unique service in regards to nationwide remodel programs. Rather than spending time to locate existing (potentially inaccurate) information for specific locations around the country, our clients give us a list of locations requiring a remodel. We then schedule site visits and obtain all existing architectural information (plans, elevations, etc.) needed for each re-design. Platt360’s existing condition drawings are then used to facilitate relevant and accurate design and production documents. This process of documenting existing conditions saves time during both the design and construction process, allowing our clients to achieve a greater Return on their Investment.
Here are a few articles about why Companies remodel: