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Undoubtedly, minor commercial property improvements can be completed on the cheap – and, if you have experience and basic DIY skills, you can actually turn an outdated office into a modern space with a limited investment. However, not all upgrades are so inexpensive, and some can actually require a substantial budget.
Nonetheless, by making the right investments and spending on the right upgrades, you can actually turn your commercial property into a much more productive, profitable, and efficient environment. Here are five investment ideas to help you get started – but don’t forget that each building is unique!
Insulate the Premises
As the owner or manager of your company, it is your responsibility to create a safe and comfortable environment for all of your employees. However, this sometimes involves keeping the air conditioning, heating, HVAC system on round-the-clock. In turn, this can result in substantial expenditures. Insulating your business can help you save over 15% on heating and cooling costs – depending on the geographical location of the building and your business’s unique specs.
Install Solar Panels
Installing solar panels can represent a substantial investment and, before committing to this purchase, you should review and analyze your spendings. In fact, for smaller homes and office spaces that use a minimal amount of energy, solar panels can represent an unnecessary cost.
However, larger businesses in the US spend on average nearly $2,000 a month on electricity. In this case, solar panels can help your business cut down on these overhead costs by over 70%. Additionally, if you are pairing your panels with enough storage, you can set aside enough energy to fuel your business during the winter months, save up on electricity, and bring to life more sustainable premises.
Create a Green Area
Creating green areas in or around your building might require a substantial investment. In fact, you will need to turn an unused area into a garden and keep up with its seasonal maintenance. Nonetheless, it has been seen that spending time in nature can help employees feel more productive, energized, and motivated. So, this investment can pay you back in productivity!
If you don’t have an outside area to convert into a green space, start thinking outside the box! For example, you can turn a portion of your building’s roof into an urban garden or you can add greenery, plants, and water features to cover indoor walls.
Prepare for the Hybrid Work Model
The pandemic has sped up a trend that was already happening: remote working. Today, over half of American professionals report working from home for at least a portion of the week. Because of this trend, it is important that modern companies offer flexibility and a variety of schedule options.
However, once you make this alternative available to your employees, there are some investments to make. Firstly, you will need the necessary hardware and software to allow your employees to work from home safely and efficiently.
And, of course, you will need the facilities and technologies to promote remote team collaboration and conferencing.
No matter at what point of your business’s digital transformation you are right now, keep in mind that investing in this kind of technology will yield an unparalleled ROI – especially if it allows you to tap into a global talent pool!
Invest in Interior Design
In the past, offices were nothing more than cubicles that supplied the basic technology needed to complete daily tasks. However, today, things are different. Offices are places for productivity, healthy competition, new ideas, socialization, and coworking. Because of this, it is vital that the interior design and decor of your office allow for it. Naturally, each office is different and unique, but some golden roles include:
- Opt for a minimalist design
- Implement brand colors and values
- Promote sustainability
- Create multiple seating options and workstations
- Allow for spaces for relaxation and socialization
- Make it accessible
Go Paperless
Going paperless in the office is necessary for several reasons. Firstly, it allows you to make your office space a much more sustainable and eco-friendly space. Secondly, it allows you to move your paperwork and compliance structure on a cloud system. This, which might seem an unnecessary investment if your paper-based framework is still functioning, is actually essential. A cloud-based system allows you to:
- Switch to a remote workforce
- Increase security, thus diminishing cyberattacks and data loss
- Streamline operations
Invest in Your Parking Lot
Your parking lot is a lot more than the place where you leave your car when going to work. It is also the first thing that your clients and employees will see, and,m as you know, the first impressions of a business are formed in a person’s mind in less than ten seconds! Get in touch with professional agencies such as K&E Flatwork to help you create the right parking area.