Signs Its Time to Build A Commercial Extension
It’s a good sign whenever you need to expand the physical footprint of your business. It might mean that you will need to re-invest in your store and hire more staff, but creating an extension of your commercial space can indicate that you have the potential to entertain more customers and earn more money.
Growing your business is a tricky thing to do. You want to draw the line between sustaining your current momentum and taking a substantial risk so you can increase your earnings exponentially. Some people are afraid to take a gamble, but growing means leaving your comfort zone for bigger and better things.
You could expand your tiny shop into a corner bistro. You might want to build an additional floor for more showroom space. You might also want to add a loft for additional desks to accommodate more employees. If you are fortunate enough to see growth in your company’s bottom line, here are signs that it’s time to build a commercial extension for your business:
1. There’s a line of customers outside your shop
Lines are a good sign that people are willing to wait to get their hands on your products or dine at your restaurant. However, there is a tipping point when people may choose to walk away, or a competitor can open up a shop nearby and snap up the waiting diners. Increase your seating capacity and the number of customers you can entertain with a bigger floor area.
2. You pay for offsite storage
If you are keeping stocks in an offsite location because you don’t have enough space, you are probably losing a lot of resources to transportation and storage costs. Unless you are in the business of warehousing materials, your raw materials, and anything you need for production should be within your reach. The risk for pilferage is also high if you can’t monitor your inventory closely.
3. Your employees keep bumping elbows
Employees are the lifeblood of your business. If they don’t have ample space to work, their productivity can suffer. Giving your staff a place to park their personal belongings, rooms to hold meetings and private conversation, and somewhere they sit for lunch can boost their morale and make them look forward to coming to work every day.
4. Your office looks like a stockroom
Your office should represent the values you use to run your business. If it’s a mess, you can’t find anything, or some stocks haven’t moved in months, those probably aren’t good signs for your business. Keep your office free of clutter and build the extension so you can save your office for essential things like entertaining clients and meeting with employees.
5. You have to cancel orders or turn away customers
If you are receiving more orders or have more clients than your employees can handle, then building an extension of your store or production area is necessary to answer demand. You cannot expect to see growth in your business if your capacity remains the same.
Expansion requires investment, and it may not be just financial. It will require your time, and attention, and it may affect your operations for a short period. For any business to grow, you need to take the risk and make incremental changes. With the right plan, you and your team can reap the rewards of a bigger and better commercial area.
Do you want to build a commercial extension on your property? We have over 20 years of experience transforming residential and commercial spaces in the East Sheen and Richmond areas. Contact us to see how we can redesign your space today!