Renovating the interior of your business can be beneficial for a number of reasons; it can improve the productivity of your staff, make your premises more appealing to your clientele, and help you stay in compliance with ever-changing commercial building regulations. As valuable as a commercial interior renovation project can be, you’ll need to plan and budget properly to achieve your goals without significant financial drain.
Are you interested in a commercial interior remodeling project in the Twin Cities metro area? Check out this guide on how to properly budget and plan for your big renovation project.
Step 1: Determine Your Commercial Renovation Goals
The first step for any project should be to clearly define the goals you’ll be working towards. Some common examples of goals for a commercial interior renovation project in the Twin Cities area include:
- Making your workspace more open, less cluttered or better organized so that staff can be more productive.
- Updating interior features, including bathroom and kitchen appliances, floors, and lighting fixtures, to add value to your business space.
- Improving the aesthetics of your commercial interior to increase its appeal to both desired clientele and new hires.
- Making necessary changes to stay in compliance with fire code or ADA regulations.
Walk through the interior of your commercial building and identify all areas that need improvement. From here, you can begin to effectively plan and budget your remodeling project. Make sure your plan is realistic; you only have so much space and so much money to work with, so it’s important to focus on your priorities first. Also, be certain to consider what infrastructure – such as plumbing and electricity – will need to be modified as part of your commercial interior renovation project.
Step 2: Set Your Project Budget
Once you have your plan, it’s time to set your budget for the commercial interior renovation project. The cost of the project will vary greatly depending on the extent of your renovations. A full office remodel will cost a lot more money than a commercial bathroom remodel.
The type of business you own will also influence the project budget. For an office or retail space, expect interior renovations to cost around $50 per square foot on the low end and well over $200 per sq. ft. on the high end. Meanwhile, a restaurant or medical facility renovation project should anticipate a minimum budget of around $200 per sq. ft. due to advanced needs.
Your comprehensive budget estimate for a commercial interior renovation project in the Twin Cities needs to consider the following:
- Commercial interior design for the remodeled spaces, such as a commercial kitchen, dining space or office.
- Construction of the added or remodeled areas of your commercial property.
- All permits and inspections that will need to be obtained as part of the commercial renovation project.
- The material costs of equipment, fixtures, and finishes being incorporated in your commercial interior renovation.
- Installation of new infrastructure, including water, electricity, and internet.
- Contingency – a specific amount of money (usually 10-20%) set aside to cover any unexpected costs that arise during the project.
Step 3: Hire an Experienced Commercial Interior Renovation Contractor in the Twin Cities
With your plan made and your budget set, you’re ready to hire a commercial interior renovation company in the greater Twin Cities metro area. Look for reputable local companies that have experience working on commercial buildings similar to yours and have the capacity to complete the interior remodeling services you need. It’s always a good idea to compare quotes from a few different renovation companies, but remember that cheaper doesn’t mean better. A surprisingly low quote is just as much of a red flag as an outrageously high figure.
Are You Ready to Hire a Commercial Interior Renovation Team?
If you’re interested in hiring a reputable commercial remodeling company, Excel Renovation would love to schedule a consultation with you. Connect with us today if you’re looking for high-quality commercial interior remodeling services in the greater Twin Cities area!
