Closed and open store remodels have one big thing in common: it’s time for a change!
Retailers upgrade their spaces to stay competitive. Changes can be made to one specific area, such as adding a grocery or in-store pickup department. Other times, the initiative is for a brand refresh of the entire store. But a remodel of any kind involves careful planning to minimize store closures and prevent loss of revenue all amid an exciting transformation.
Open store remodels are a popular solution to avoid or minimize closings during a renovation. This type of project uses phased timelines and strict safety protocols to complete changes quickly — without compromising the in-store shopping experience.
Here’s a complete guide with everything you need to know about open store remodels.
What is an Open Store Remodel?
An open store remodel is (unsurprisingly) a construction project completed in an open store. On the other hand, a closed store remodel is executed during a temporary store closure. Both approaches offer different benefits. While a complex, in-depth renovation could be completed faster as a closed store remodel, it might also come with steeper projections for loss of revenue.
Both options are worth considering, and it always helps to partner with an experienced national general contractor to evaluate the next steps.
Retail leaders and their GCs should work together to clearly define the scope and scale of an upcoming renovation. Prior to this meeting, it is helpful to be up-to-date on daily in-store revenue for your retail locations, to help come up with accurate financial projections for an open or closed remodel. This is one of several factors your team should consider, along with the safety and quality of the in-store guest experience.
There’s no reason to shy away from an open store remodel when you work with a trusted partner as your general contractor. Past experience in open store remodels is critical, and you should always ask if references are available for recent projects. Below are the features and benefits of an open store remodel you should ask them about.
Key Benefits of an Open Store Remodel:
Minimize Loss of Revenue.
This benefit is the most obvious, and one that’s already been touched on — preventing a temporary store closure helps preserve revenue. The “all-in” cost of a remodel includes labor and materials PLUS lost revenue for every day your store was closed. These expenses typically have a strong Return on Investment (ROI) after the transformation is complete, but every dollar saved makes a difference.
Customers Preview the Exciting Changes.
An open store remodel is the most obvious way to let your shoppers know exciting changes are coming! In order to keep the store safe and fully operational while construction is underway, work areas are sealed off and affected departments or amenities are relocated. Using signage throughout the store, along with clearly marked walkways, helps guests know what to expect.
More good news: Studies have shown sales to new customers increase by almost 50% after a store update, with return visits increasing 16% after the first purchase.
Disruptions are Kept to a Minimum.
Renovations are completed in phases during an open store remodel, with the noisiest activities reserved for overnight or low-traffic hours. This allows work to be completed quickly, without disrupting shoppers during business hours.
Other tactics your GC will use to create a safe, stress-free environment include:
- Construction zones are secured and clearly marked with hazard signs.
- Durable plastic sheets are used to keep debris out of the open store area.
- Dusty work is completed outdoors whenever possible.
- Construction employees park and take breaks in designated areas to avoid taking space away from customers.
- Work ONLY happens behind barricades.
Safety is Paramount
Any construction job site must make safety the #1 priority to prevent injuries, property damage and delays. Open store remodels have to account for the safety of your retail employees and shoppers, as well as construction workers. That’s why a reliable national general contractor is a MUST!
OSHA recommendations are the baseline for success, but a truly top-notch partner will also use technology solutions such as automated daily reports, project management apps, progress tracking software, and surveillance cameras, along with regular site checks, to make sure the work area is secure at all times.
Get Started with Open Store Remodels by N-STORE Services
An open store remodel is a great solution for retailers who want to upgrade their space without the disruption of temporarily closing for construction. The reason an open store remodel works is because it can be done quickly and safely.
N-STORE Services is an award-winning national general contractor based in St. Louis. We have experience executing multi-site open store remodels nationwide for the country’s most prominent retailers. Read more about our expertise and how we prioritize safety during an open store remodel — without sacrificing quality or efficiency.
Ready to get started on your national program? Contact N-STORE Services today.
