Retail Store Fit Out Cost-Cutting Concepts
Retailers can often be taken by surprise at the cost of a store fit out. After all, shop fitting involves a unique set of processes that must be implemented in a specific way to achieve a successful outcome. Many retailers will require a turnkey specialised retail store fit out in the shortest possible time. You want to achieve your financial targets, but you also want to recover your initial costs and far exceed what you spent.
Believe it or not, it is possible to achieve a quality retail space while protecting that all-important redesign budget. Here are some useful cost-cutting concepts that will allow you save money on your next fit out.
Do your due diligence
It is paramount that a retail store fit out is specifically designed to increase sales, but it must also be completed in the shortest possible time to alleviate loss of income. The difference between a good fit out and a bad one can result in significantly higher sales in your store. Do your research so you can find a partner that will offer you a deal that is in line with your budget.
Too often retailers hold off on the idea of a redesign because of budgetary issues or resort to buying poor quality shop fittings online in an effort to jazz up their store. Some may plough ahead with a retail store fit out project and end up choosing the wrong contractor for their needs. While this may seem like common sense, due diligence is a crucial step in the process.
Prioritise “must-have” items
Embarking on a new fit out can be an exciting venture for any retail business. And rightly so, it should be an enjoyable experience, not an agonising one! A quick Google search will return an endless list of retail store design ideas, but be careful not to get carried away.
When creating a list of requirements for your fit out, the key to saving money is to keep the design clutter-free. This doesn’t mean that you have to forego one or two unique features to provide that wow factor, but it is important to keep in mind that pursuing the outlandish is a sure-fire way to ensure that your costs go sky-high.
For instance, a wall of flat-panel monitors displaying product showcases might seem attractive, but does it fit in with theme that you’re going for? Upgrades can always be decided on later, but focus on what you really need first.
Amongst Few Flagship Store, Dubai. Image credit: retaildesignblog.net
Keep changes to a minimum
If you want your project to run swimmingly, then it is recommended to try and avoid changing major specifications half-way through. Most shopfitters will be relatively open to some minor changes, as it is the nature of a large project for some small details to be tweaked here and there. Bear in mind that you do go ahead with any significant changes, take into the account the costs of the work already undertaken, as well as that of the new quote provided.
Set clear objectives and stay focused
Retailers can often be vulnerable to advice from a plethora of staff, friends and relatives who all have an opinion on the ideal store design and the process involved. Too many cooks in the kitchen can quickly transform a smooth running project into a bit of a frenzy!
Stick to a core group of stakeholders, set clear, agreeable objectives, and stay focused on these so you can not only keep everyone happy by meeting the objectives, but you will cut down on unnecessary costs too.
We hope you have enjoyed these cost cutting concepts for retail store fit outs. If you are interested in learning more about how we can help you increase sales with a turnkey shop fit out, call us on (01) 539 4612 or email us at info@storebest.ie.