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Are you thinking about selling your business? Before you put your business up for sale, you may need to do some renovation projects first to make sure your physical location looks great so buyers will be interested in it. That is why, in this article, we will look at the top 10 renovation ideas for your business before you sell it.
Things to Consider Before You Get Started Remodeling Your Business
There are a few things to consider before you get started renovating your business.
Set your budget in advance
Renovating your business can be expensive, so make sure you set your budget before you get started renovating. Compile a list of the things you want to change, rating them by priority so you know which ones you need to address first, and focus on fitting those into your budget.
Create a timeline for renovations
When are you planning on selling your business? Once you have a good idea of when you plan on selling, you can plan out the renovation timeline. There are some things that will take longer to complete, so you will need to determine if they are doable in your timeline for selling the business.
Consult your employees on what they think could be improved
Before you get started renovating your business, talk to your employees and ask them what they think could be improved in your business. They might have ideas for things that you have not considered yet, so it is a good idea to talk to them before you get started. Share your list of renovation plans with them and ask for opinions. Your employees will appreciate that you are getting their opinions before you get started, which can improve your employee satisfaction. Happy employees can help you sell the business too.
Top 10 Business Renovation Ideas
1. Paint your building, inside and out
One of the easiest and most affordable renovation ideas that you can complete on your business before selling it is painting. A fresh coat of paint can give any room or building a clean look that will capture attention. Since you are painting to sell your business, make sure you choose some neutral colors.
In fact, if your business has bright colors that stand out, you should definitely repaint to cover those up. Buyers like to see a business they are buying as a fresh canvas that they can paint with their plans for the business. You do not have to stick with just white, gray, and beige; you can also use lighter blue for some color; it is a pretty safe option that many people like.
If you paint the exterior of your building, make sure you also choose some neutral colors for that for the same reasons. However, when you get to the door, paint it something that pops and stands out.
2. Update the counters
When was the last time you updated the checkout counters? It has probably been a few years since you updated them. As part of planning to sell your business, consider getting new ones that stand out and look nice. Little touches like this can stand out to a prospective buyer, and your employees will appreciate having new counters in the meantime.
3. Install faux stone to transform your look
There is no denying the beauty of natural stone, but it is expensive and time-consuming to install. Instead, install faux stone in your business to enhance its appeal before selling. It is completely DIY-friendly, and most projects can be completed in a single weekend.
Where to use faux stone inside your business:
- Surround support columns.
- Create an accent wall.
- As the restroom backsplash.
- As part of a display.
- Wainscoting the bottom half of walls.
Where to use faux stone on your business exterior:
- The siding of the building.
- Wainscoting to cover the foundation.
- Skirting around the porch.
- As stair runners.
- On your business signage.
You May Read Also: The 10 Best Home Renovation Projects To Sell Your Home
4. Update your landscaping if you have any
When you are selling your business, curb appeal is a must. First impressions are important, and the first impression a prospective buyer is going to have is of the exterior of the building, so you want to ensure that the first impression is a good one.
Depending on your business’ location, there might not be any landscaping for you to do, but if you do have some, take some time to get it looking its best. Make sure your lawn is manicured and not patchy or overgrown. Any flowers or bushes you have out front should be alive and pruned, looking their best. It might be a good idea to enlist the aid of a professional landscaping company to keep everything looking its best while you work on selling.
Another part of your landscaping is the walkway and driveway for your business. You want to make sure it looks great and is well-lit. Replace any cracked stones in the walkway, consider having the driveway repaved, and have the lines in the parking lot repainted.
5. Update your exterior signage
The signs outside your business are an important part of it that help potential customers and people who want to buy the business find it. When was the last time you updated the signage? You can get a brand-new sign and surround the wooden pillars holding it up or around the base of it.
While it might seem pointless to get a new sign when you are planning on selling, it is a good idea because it is part of the first impressions a prospective buyer will have of the business, and you want to ensure that it is a good impression.
6. Replace the flooring in your business
New flooring can be a great selling point for your business. You can either refinish your existing floor or replace what you currently have with some new tile, laminate, or even hardwood floors. Make sure that whatever you choose is durable and will stand up to both your current customers and the future customers of the business once it sells.
7. Create an Accent Wall
Accent walls are a great way to make a room pop and draw attention to a wall that is important to the business. You can paint it a bright color that stands out, add wallpaper, put up wall decals, or install a faux stone accent wall. If you have a specific wall where you keep important merchandise that you want to draw focus, turning it into an accent wall is a great way to make that happen.
While it is not generally recommended to use bright or bold paint colors when you are planning to sell, the one exception to this is if you are making an accent wall.
8. Update the customer bathroom
Many businesses overlook the customer’s bathroom for more than just making sure it is clean and useable; updating that bathroom can potentially help you sell your business. You can start by replacing the flooring in the bathroom, then consider if the stalls need to be replaced.
You can also replace the toilets, mirrors, and other parts of the restroom. Turning it into something that looks nice will help show potential buyers how good care you take of the building. It can also improve the customer experience for your current customers.
9. Improve the energy efficiency of your business
How energy efficient is your business right now? Are there things you can do to improve on that? Consider investing in double-paned windows or a door that helps insulate the building. You can switch out your lightbulbs for ones that are more energy efficient. Replace the appliances in your breakroom with ones that are more energy efficient. Switch out the paper towels in your restrooms with an automatic dryer to help cut down on waste.
10. Update your light fixtures
Lighting is a crucial part of your business. You need to ensure that your customers can see your inventory well and that the lighting highlights things correctly. Take some time to re-evaluate the lighting in your business and think about what you can change to improve them. New light fixtures can truly change the overall appearance of your business and help you sell it.
These are the best ever business renovation ideas, let us know which one you like the most!
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